📈 Global Electricity Demand Set to Surge Through 2030
February 6, 2026
The UK Expands Wind Power As Europe Builds A Shared Clean Energy Grid
February 10, 2026
UK Energy Market Summary to Friday 6th February 2026
Closing prices 06.02.2026
The British spot gas price rose by 3% to 2.8 p/kWh on Wednesday, supported by forecasts of a sharp, though short-lived, mid-February temperature drop and early oil gains after the US downed an Iranian drone near the Strait of Hormuz. Further along the curve, the Summer 2026 delivery contract increased by 1.6% to 2.5 p/kWh, amid tight storage, with EU inventories at 40% of capacity.
The British spot gas price rose by 3% to 2.8 p/kWh on Wednesday, supported by forecasts of a sharp, though short-lived, mid-February temperature drop and early oil gains after the US downed an Iranian drone near the Strait of Hormuz. Further along the curve, the Summer 2026 delivery contract increased by 1.6% to 2.5 p/kWh, amid tight storage, with EU inventories at 40% of capacity.
At time of writing, European gas storage levels are 37% full, with the UK 36% full. European gas storage levels are trending at the low of the 5-year average. Over the past week gas has accounted for 31% of the UK generation mix with wind accounting for 42%, 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
Crude oil prices advanced on Wednesday, initially reacting to reports that U.S.–Iran nuclear talks had stalled, before later updates indicated negotiations were back on after diplomatic pressure.
European carbon prices saw minor declines on Wednesday. The market rebounded somewhat after an early dip thanks to buying activity, but investment funds’ ongoing net long reductions maintained downward pressure.