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UK Energy Market Summary to Friday 4th April 2025
Closing prices 04.04.2025
On Wednesday, the NBP spot price fell by 4% to 3.4 p/kWh on Wednesday due to reduced heating demand from warmer weather. However, the start of major maintenance at Norway’s Nyhamna gas processing plant helped limit the decline.
On Thursday concerns over reduced storage levels put downward pressure on prices along the forward curve, with the Winter 2025 delivery contract dropping by 4.4% to 3.5 p/kWh. Additionally, the market anticipates weaker energy demand as US tariffs raise economic concerns in Europe.
At time of writing, European gas storage levels are 35% full, with the UK 22% full. European gas storage levels are trending just below the 5-year average throughout 2024. Over the past week gas has accounted for 18% of the UK generation mix with wind accounting for 35%, solar 12% and nuclear accounting for 14%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Oil prices are on track for their biggest weekly percentage loss in half a year, pressured by U.S. President Donald Trump’s new tariffs and production increases revealed by the OPEC+ group.
European carbon prices hit their lowest level of the year on Thursday as traders closed long positions to protect against potential losses triggered by Donald Trump’s new import tariffs. Consequently, EUAs expiring in Dec-2025 plummeted by 3.6% to around 66 EUR/tonne.