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UK Energy Market Summary to Friday 9th January 2026
Closing prices 09.01.2026
British gas prices rose amid freezing temperatures and faster storage withdrawals, with NBP spot 2% higher at 2.6 p/kWh. Along the forward curve, the Summer 2026 contract gained more than 1% ending at 2.2p/kWh.
The British spot gas price slumped by 4.8% to 2.5 p/kWh on Thursday, weighed by warmer weather forecasts and the UK’s first LNG shipment for February 2026, which bolstered supply expectations. Further along the curve, the Summer 2026 delivery contract fell by 3% to 2.2 p/kWh, amid abundant LNG availability offsetting relatively low levels of storage.
At time of writing, European gas storage levels are 55% full, with the UK 45% full. European gas storage levels are trending around the 5-year average. Over the past week gas has accounted for 43% of the UK generation mix with wind accounting for 31%, solar 1% and nuclear accounting for 10%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Oil prices extended losses on Wednesday, as oversupply concerns dominated despite a larger-than-expected draw in U.S. crude stocks and ongoing geopolitical tensions following the U.S. seizure of two tankers carrying Venezuelan oil.
European carbon prices increased slightly on Thursday, supported by strong thermal generation and tighter EU ETS expectations, though warmer weather predictions later in January capped gains.