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UK Energy Market Summary to Friday 16th January 2026
Closing prices 16.01.2026
British gas prices moved higher on Thursday, supported by stronger carbon prices, colder weather conditions, and increased demand. The NBP spot price rose by 5.6% to 3.1 p/kWh. Along the curve, the Q3 2026 contract settled at 2.3 p/kWh, marking a 4% daily increase.
European day-ahead power prices turned bullish on Thursday, supported by colder weather and waning renewable output. As a result, the German spot power price jumped by 8% at 10.97 EUR p/kWh, while the French spot power price soared by 16% to 11.29 EUR p/kWh.
At time of writing, European gas storage levels are 50% full, with the UK 41% full. European gas storage levels are trending at the low of the 5-year average. Over the past week gas has accounted for 39% of the UK generation mix with wind accounting for 30%, solar 1% and nuclear accounting for 11%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Brent crude oil prices saw a sharp downward correction on Thursday, plunging by over 4% to settle at $63.76 per barrel, as concerns over a potential U.S. intervention in Iran eased.
European carbon prices gained slight momentum on Thursday, supported by colder weather forecasts and bullish technical signals.