Solar Panels Simplified
May 15, 2025
Implications of the Post-Brexit Deal for the Energy Industry
May 21, 2025
UK Energy Market Summary to Friday 16th May 2025
Closing prices 16.05.2025
Despite the UK securing an additional LNG cargo for May 25, bringing the monthly total to four, the British spot gas price increased by 0.6% to 2.7 p/kWh on Wednesday, supported by an unplanned outage at Norway’s Kårstø gas processing plant.
The British spot gas price increased by 2.5% to 2.8 p/kWh on Thursday amid reduced Norwegian supply nominations. Lingering uncertainty over Ukraine-Russia peace efforts lent support to prices further along the curve. As a result, the Winter 2025 delivery contract edged 0.4% higher at 3.2 p/kWh, intensified by the absence of both the Russian and U.S. presidents, which kept market sentiment cautious.
At time of writing, European gas storage levels are 44% full, with the UK 33% full. European gas storage levels are trending just below the 5-year average throughout 2024. Over the past week gas has accounted for 20% of the UK generation mix with wind accounting for 26%, solar 14% and nuclear accounting for 18%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Crude oil prices fell by 0.8% on Wednesday after government data showed an unanticipated rise in U.S. crude inventories, fuelling investor worries over a potential supply surplus. The Energy Information Administration reported a 3.5 million-barrel increase in crude stocks, bringing the total to 441.8 million barrels.
European carbon prices extended their decline on Wednesday, pressured by broad weakness across energy commodities and financial markets. However, overall market sentiment remained relatively firm.