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UK Energy Market Summary to Friday 5th September 2025
Closing prices 05.09.2025
British gas prices were mixed on Wednesday. NBP spot price decreased by 1.3% to 2.7 p/kWh amid plentiful renewable supply. Meanwhile, on the curve, the contract for delivery in Q1 2026 ended at 3.0 p/kWh, or a 0.6% increase amid expectations of colder weather forecasts and higher carbon prices.
British gas prices added ground on Thursday due to a drop in Norwegian output compared to last week as a result NBP spot increased by 2.4% to 2.7 p/kWh. On the curve, the contract for delivery in Q4 2024 rose by 0.8% to end at 2.9 p/kWh. European day-ahead power prices were bullish on Thursday, supported by higher demand. As such, the German spot power price edged 14% higher at 99.92 EUR/MWh and the French spot power price jumped by 85% to 56.70 EUR/MWh.
At time of writing, European gas storage levels are 79% full, with the UK 44% full. European gas storage levels are trending on the 5-year average compared to 2024. Over the past week gas has accounted for 21% of the UK generation mix with wind accounting for 39%, solar 8% and nuclear accounting for 13%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Crude oil prices continued to decrease on Thursday, on potential surplus output from OPEC members. Hence, Brent crude closed at $66.99 barrel, or a 0.9% fall. Similarly, WTI crude declined by 0.8% to $63.48 barrel.
European carbon prices continued to add momentum on Wednesday ahead of the 30th September deadline for compliance buying.