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UK Energy Market Summary to Friday 12th June 2026
Closing prices 12.06.2026
Wholesale gas and power markets remained elevated during the week ending 12 June, although prices eased slightly towards the weekend as concerns over immediate disruption to global energy supplies reduced. Market sentiment improved on reports of diplomatic progress surrounding tensions in the Middle East, helping to alleviate some concerns around LNG supply routes and global energy flows.
Despite this softer tone, forward gas and power prices continue to carry a significant geopolitical risk premium. European gas storage levels remain below seasonal norms at approximately 42% full, providing ongoing support to wholesale markets as traders assess the pace of injections ahead of winter.
In the UK generation mix, renewable output remained strong, with wind generation continuing to be the largest source of electricity supply. However, gas-fired generation remains a key price-setting technology, meaning developments in the gas market continue to have a direct impact on wholesale power prices.
Curve UK Gas & Electricity Markets
Other Energy Markets
Oil prices softened during the week as immediate supply concerns eased, while European carbon markets remained relatively stable. Looking ahead, market direction is likely to remain heavily influenced by geopolitical developments, LNG availability and the progress of European storage replenishment over the summer months.
Markets will be watching developments in the Middle East closely, as any formal agreement could improve confidence in global energy supply security and place further downward pressure on wholesale gas and power prices.