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July 22, 2025
UK Energy Market Summary to Friday 18th July 2025
Closing prices 18.07.2025
The Winter 2025 delivery contract edged 0.2% higher at 3.2 p/kWh, amid raised concerns over potential LNG supply constraints in Europe due to Asian heatwave, though the overall risk remained limited.
The NBP spot price soared by 2.3% to 2.9 p/kWh on Thursday, following unplanned outages at the Nyhamna and Kollsnes plants, which together reduced supply by 101 mcm/d. Further along the curve, the Winter 2025 delivery contract dropped by 1.2% to 3.2 p/kWh, as geopolitical risks eased following the EU’s failure to approve new sanctions on Russia, with Slovakia seeking exemptions from the gas phase-out by 2028.
At time of writing, European gas storage levels are 65% full, with the UK 29% full. European gas storage levels are trending just below the 5-year average throughout 2024. Over the past week gas has accounted for 26% of the UK generation mix with wind accounting for 22%, solar 10% and nuclear accounting for 16%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Crude oil prices fell marginally on Wednesday, weighed by a surprise build in U.S. fuel stocks and tariff-related economic concerns. Gasoline inventories rose by 3.4 million barrels and distillates by 4.2 million, both far above forecasts.
European carbon prices dropped on Thursday, with profit-taking outweighing support from a draft EU plan to reconnect the EU and UK emissions trading schemes.