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UK Energy Market Summary to Friday 24th April 2026
Closing prices 24.04.2026
UK gas prices increased on Wednesday, as uncertainty over the resumption of US–Iran peace negotiations and the continued blockade of Iranian ports offset the extension of the ceasefire. The NBP spot contract rose by 2% to 3.7 p/kWh, with gains capped by a smaller-than-expected impact from Norwegian maintenance on exports. Meanwhile, the Winter 2026 delivery contract surged by 4% to 3.73 p/kWh.
British gas prices climbed to a 10-day high on Thursday amid concerns over LNG supply disruptions from the Iran conflict. Europe could face a 56 bcm LNG shortfall if Qatari output remains offline until December, following damage to the Ras Laffan facility in March. However, gains were capped by ongoing storage injections and stronger Norwegian pipeline flows. The NBP spot contract added 1% to 3.74 p/kWh, while the Winter 2026 delivery contract increased by 1.5% to 3.79 p/kWh.
At time of writing, European gas storage levels are 31% full, with the UK 32% full. European gas storage levels are trending at the low of the 5-year average. Over the past week, gas has accounted for 16.6% of the UK generation mix, with wind accounting for 23.8%, solar 14.7% and nuclear accounting for 18.8%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Crude oil prices rose on Thursday, posting weekly gains, as heightened tensions and naval movements kept the Strait of Hormuz shut. Reports of a senior Iranian negotiator stepping down added uncertainty, while U.S.–Iran talks remain stalled. Hence, Brent crude soared by over 3% to $105.07 per barrel, while WTI crude also advanced by 3% to $95.85 per barrel.
European carbon prices ticked up on Thursday, holding around a key technical level as last week’s rebound continued to lend support. Consequently, the EUAs expiring in Dec-2026 edged 0.6% higher at 74.85 EUR/tonne.