GLEG UK Energy Market Update 01-06-26…
June 1, 2026
Climate Change Levy: Why Businesses Should Be Planning Ahead
June 12, 2026
UK Energy Market Summary to Friday 5th June 2026
Closing prices 05.06.2026
The NBP spot contract advanced by 1% to 4.08 p/kWh on Thursday on stronger demand and firmer market sentiment. Further along the curve, the Winter 2026 delivery contract gained merely 0.3% to 4.10 p/kWh amid expectations that tensions in the Middle East will ease.
British gas prices retreated on Friday, although persistent tensions in the Middle East prevented a steeper decline by keeping supply risks in focus. The NBP spot contract lost 1% to 4.04 p/kWh, while the Winter 2026 delivery contract edged 0.5% lower at 4.08 p/kWh.
At time of writing, European gas storage levels are 42% full, with the UK 19% full. European gas storage levels are trending at the low of the 5-year average. Over the past week, gas has accounted for 20.5% of the UK generation mix with wind accounting for 39.8%, solar 10.4% and nuclear accounting for 8.9%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Oil prices declined on Friday as the resumption of normal operations at Oman’s Mina al Fahal terminal eased supply concerns stemming from reports of an explosion and suspended loadings. However, the downside was tempered by renewed doubts over a broader Middle East peace deal after Hezbollah dismissed an Israel-Lebanon ceasefire. Hence, Brent crude dropped by 2% to $93.09 a barrel, while WTI crude decreased by 2.7% to $90.54 per barrel.
European carbon prices eased on Friday as the market lacked both fundamental and technical support, with weakness across wider asset classes further dampening sentiment. As a result, the EUAs expiring in Dec 2026 slipped by 0.2% to 76.94 EUR/tonne.