GAS UK Natural Gas · NBP
Day-Ahead
198.84p/therm −5.70 · −2.8%
30d 129.10 – 204.54 close 11 Sep 2026
Charts
Daily numbers
PEP-ICD reports each day on what's moving the UK energy and carbon markets, as well as the impacts of the wider energy complex (oil/LNG). The dashboard below is based on the most recent closing prices, whilst intraday live rates sit behind our TRIBARClient portal (details available on request).
01 · Price board
Forward delivery prices, updated daily
Day-ahead and seasonal forwards for UK gas and power — 12th September 2026 closing prices (plus last 30 days). Red means down versus previous close. Green means up versus previous close.
Gas · Prompt market
GAS UK Natural Gas · NBP
Month-Ahead
199.17p/therm −5.99 · −2.9%
30d 128.94 – 205.16 close 11 Sep 2026
GAS UK Natural Gas · NBP
Quarter-Ahead
201.57p/therm −5.82 · −2.8%
30d 131.90 – 207.38 close 11 Sep 2026
GAS UK Natural Gas · NBP
Season-Ahead
200.67p/therm −5.37 · −2.6%
30d 129.41 – 206.04 close 11 Sep 2026
Gas · Forward market
GAS UK Natural Gas · NBP
WIN 26
200.67p/therm −5.37 · −2.6%
30d 129.41 – 206.04 close 11 Sep 2026
GAS UK Natural Gas · NBP
SUM 27
134.73p/therm −1.63 · −1.2%
30d 86.85 – 136.36 close 11 Sep 2026
GAS UK Natural Gas · NBP
WIN 27
128.10p/therm −1.40 · −1.1%
30d 86.88 – 129.50 close 11 Sep 2026
GAS UK Natural Gas · NBP
SUM 28
80.65p/therm −0.78 · −1.0%
30d 65.12 – 81.42 close 11 Sep 2026
Electricity · Prompt market
PWR UK Electricity · Baseload
Day-Ahead
117.34£/MWh −58.66 · −33.3%
30d 72.76 – 176.00 close 12 Sep 2026
PWR UK Electricity · Baseload
Month-Ahead
153.22£/MWh −3.87 · −2.5%
30d 110.54 – 157.08 close 11 Sep 2026
PWR UK Electricity · Baseload
Quarter-Ahead
159.80£/MWh −3.92 · −2.4%
30d 113.46 – 163.72 close 11 Sep 2026
PWR UK Electricity · Baseload
Season-Ahead
161.02£/MWh −3.14 · −1.9%
30d 112.31 – 164.16 close 11 Sep 2026
Electricity · Forward market
PWR UK Electricity · Baseload
WIN 26
161.02£/MWh −3.14 · −1.9%
30d 112.31 – 164.16 close 11 Sep 2026
PWR UK Electricity · Baseload
SUM 27
108.64£/MWh −0.01 · −0.0%
30d 78.51 – 108.65 close 11 Sep 2026
PWR UK Electricity · Baseload
WIN 27
108.27£/MWh −0.67 · −0.6%
30d 81.00 – 108.94 close 11 Sep 2026
PWR UK Electricity · Baseload
SUM 28
70.48£/MWh −0.60 · −0.8%
30d 62.34 – 71.07 close 11 Sep 2026
02 · Price action
Up, down, or sideways
Most recent closing price versus 1-day, 1-week, 1-month ago
| Contract | 1 day | 5 days | 30 days | 30-day range |
|---|---|---|---|---|
| UK Natural Gas · NBP | ||||
| Day-Aheadp/therm | −2.8% | +11.8% | +40.9% | |
| Month-Aheadp/therm | −2.9% | +11.3% | +40.3% | |
| Quarter-Aheadp/therm | −2.8% | +11.2% | +39.5% | |
| Season-Aheadp/therm | −2.6% | +11.7% | +42.3% | |
| WIN 26p/therm | −2.6% | +11.7% | +42.3% | |
| SUM 27p/therm | −1.2% | +12.2% | +49.4% | |
| WIN 27p/therm | −1.1% | +9.9% | +43.1% | |
| SUM 28p/therm | −1.0% | +3.4% | +21.6% | |
| UK Electricity · Baseload | ||||
| Day-Ahead£/MWh | −33.3% | −18.6% | −19.4% | |
| Month-Ahead£/MWh | −2.5% | +9.5% | +28.2% | |
| Quarter-Ahead£/MWh | −2.4% | +9.5% | +30.7% | |
| Season-Ahead£/MWh | −1.9% | +10.4% | +34.4% | |
| WIN 26£/MWh | −1.9% | +10.4% | +34.4% | |
| SUM 27£/MWh | −0.0% | +9.7% | +33.2% | |
| WIN 27£/MWh | −0.6% | +8.4% | +30.0% | |
| SUM 28£/MWh | −0.8% | +0.7% | +11.6% | |
03 · Gas curve
UK NBP monthly forwards out to 2030
Most recent closing prices versus 1-month ago (white shaded sections delineate winter delivery).
Latest close · 12 Sep 2026
One month ago · 11 Aug 2026
p/therm
View as table
| Contract | Latest close (p/therm) | One month ago |
|---|---|---|
| OCT 26 | 198.76 | 145.30 |
| NOV 26 | 202.25 | 148.87 |
| DEC 26 | 203.72 | 150.45 |
| JAN 27 | 204.53 | 150.86 |
| FEB 27 | 202.56 | 146.70 |
| MAR 27 | 192.44 | 130.93 |
| APR 27 | 155.55 | 105.93 |
| MAY 27 | 137.56 | 91.60 |
| JUN 27 | 131.15 | 89.04 |
| JUL 27 | 128.92 | 87.06 |
| AUG 27 | 128.28 | 89.24 |
| SEP 27 | 127.22 | 88.65 |
| OCT 27 | 126.29 | 88.29 |
| NOV 27 | 129.99 | 92.74 |
| DEC 27 | 132.09 | 93.92 |
| JAN 28 | 131.69 | 93.86 |
| FEB 28 | 129.62 | 93.23 |
| MAR 28 | 119.06 | 85.80 |
| APR 28 | 89.56 | 74.00 |
| MAY 28 | 81.60 | 68.38 |
| JUN 28 | 78.89 | 66.85 |
| JUL 28 | 77.58 | 64.96 |
| AUG 28 | 77.58 | 64.93 |
| SEP 28 | 78.85 | 65.97 |
| OCT 28 | 84.13 | 71.00 |
| NOV 28 | 86.96 | 73.76 |
| DEC 28 | 89.22 | 76.07 |
| JAN 29 | 90.80 | 77.44 |
| FEB 29 | 89.50 | 77.00 |
| MAR 29 | 86.44 | 74.27 |
| APR 29 | 72.23 | 64.82 |
| MAY 29 | 68.31 | 61.47 |
| JUN 29 | 66.51 | 59.65 |
| JUL 29 | 65.68 | 59.11 |
| AUG 29 | 66.28 | 59.76 |
| SEP 29 | 67.61 | 60.95 |
| OCT 29 | 72.23 | 66.86 |
| NOV 29 | 74.81 | 69.51 |
| DEC 29 | 76.92 | 71.56 |
| JAN 30 | 78.28 | 72.62 |
| FEB 30 | 78.58 | 72.93 |
| MAR 30 | 76.79 | 71.22 |
| APR 30 | 70.58 | 66.01 |
| MAY 30 | 68.20 | 63.78 |
| JUN 30 | 65.82 | 61.55 |
| JUL 30 | 64.05 | 59.54 |
| AUG 30 | 63.65 | 59.00 |
| SEP 30 | 65.08 | 59.81 |
| OCT 30 | 71.66 | 66.48 |
| NOV 30 | 74.44 | 69.25 |
| DEC 30 | 76.40 | 71.23 |
04 · Seasonal context
The front 7 seasons out to Winter-29 delivery
Most recent closing prices versus 1-week, 1 month, 3-months, 6-months ago.
Last close · 11 Sep 26
1 week ago · 4 Sep 26
1 month ago · 11 Aug 26
3 months ago · 11 Jun 26
6 months ago · 11 Mar 26
View as table
| Season | Last close (p/therm) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| WIN 26 | 200.67 | 179.65 | 145.48 | 124.28 | 116.13 |
| SUM 27 | 134.73 | 120.06 | 91.87 | 87.28 | 80.76 |
| WIN 27 | 128.10 | 116.54 | 91.28 | 87.51 | 81.77 |
| SUM 28 | 80.65 | 77.98 | 67.49 | 65.09 | 59.20 |
| WIN 28 | 87.82 | 85.42 | 74.89 | 73.38 | 65.75 |
| SUM 29 | 67.75 | 66.19 | 60.94 | 58.57 | 55.48 |
| WIN 29 | 76.24 | 74.45 | 70.75 | 67.96 | 65.73 |
Last close · 12 Sep 26
1 week ago · 5 Sep 26
1 month ago · 12 Aug 26
3 months ago · 12 Jun 26
6 months ago · 12 Mar 26
View as table
| Season | Last close (£/MWh) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| WIN 26 | 161.02 | 145.83 | 125.27 | 102.06 | 96.73 |
| SUM 27 | 108.64 | 99.03 | 82.86 | 76.90 | 72.58 |
| WIN 27 | 108.27 | 99.87 | 84.87 | 79.33 | 75.68 |
| SUM 28 | 70.48 | 69.99 | 64.93 | 60.21 | 58.85 |
| WIN 28 | 80.67 | 78.55 | 72.45 | 69.56 | 66.39 |
| SUM 29 | 68.16 | 65.51 | 63.10 | 61.25 | 60.05 |
| WIN 29 | 74.73 | 73.06 | 71.98 | 69.86 | 67.57 |
05 · Half-year curve shift
Our quick-glance graphic of mid-term market volatility
Percentage changes of most recent closing prices of the front 7 seasons versus 6-month ago.
View as table
| Season | Six months ago | Latest close | Change |
|---|---|---|---|
| Gas WIN 26 | 116.13 p/therm | 200.67 p/therm | +72.8% |
| Gas SUM 27 | 80.76 p/therm | 134.73 p/therm | +66.8% |
| Gas WIN 27 | 81.77 p/therm | 128.10 p/therm | +56.7% |
| Gas SUM 28 | 59.20 p/therm | 80.65 p/therm | +36.2% |
| Gas WIN 28 | 65.75 p/therm | 87.82 p/therm | +33.6% |
| Gas SUM 29 | 55.48 p/therm | 67.75 p/therm | +22.1% |
| Gas WIN 29 | 65.73 p/therm | 76.24 p/therm | +16.0% |
| Power WIN 26 | 96.73 £/MWh | 161.02 £/MWh | +66.5% |
| Power SUM 27 | 72.58 £/MWh | 108.64 £/MWh | +49.7% |
| Power WIN 27 | 75.68 £/MWh | 108.27 £/MWh | +43.1% |
| Power SUM 28 | 58.85 £/MWh | 70.48 £/MWh | +19.8% |
| Power WIN 28 | 66.39 £/MWh | 80.67 £/MWh | +21.5% |
| Power SUM 29 | 60.05 £/MWh | 68.16 £/MWh | +13.5% |
| Power WIN 29 | 67.57 £/MWh | 74.73 £/MWh | +10.6% |
06 · Daily evolution
Each day's closing seasonal forward price over an 18-month period
Feel free to drag the zoom!
07 · Month-ahead delivery prices, gas versus electricity
Tracking the correlation coefficient
Weekly closing prices indexed to 100 at 13 Sep 2024 reflecting comparative value.
Gas · NBP month-ahead
Electricity · UK Baseload month-ahead
indexed, 13 Sep 2024 = 100
View as table
| Week ending | Gas index | Gas (p/therm) | Electricity index | Electricity (£/MWh) |
|---|---|---|---|---|
| 13 Sep 2024 | 100.0 | 86.02 | 100.0 | 73.04 |
| 20 Sep 2024 | 96.8 | 83.27 | 95.7 | 69.93 |
| 27 Sep 2024 | 106.3 | 91.41 | 104.5 | 76.33 |
| 4 Oct 2024 | 118.6 | 101.99 | 119.1 | 86.98 |
| 11 Oct 2024 | 114.7 | 98.64 | 117.2 | 85.63 |
| 18 Oct 2024 | 113.5 | 97.60 | 116.8 | 85.32 |
| 25 Oct 2024 | 128.0 | 110.07 | 131.4 | 96.00 |
| 1 Nov 2024 | 114.4 | 98.37 | 122.1 | 89.20 |
| 8 Nov 2024 | 124.0 | 106.63 | 122.9 | 89.77 |
| 15 Nov 2024 | 135.3 | 116.40 | 131.2 | 95.85 |
| 22 Nov 2024 | 135.7 | 116.69 | 130.5 | 95.33 |
| 29 Nov 2024 | 136.1 | 117.09 | 132.3 | 96.60 |
| 6 Dec 2024 | 134.1 | 115.35 | 134.8 | 98.48 |
| 13 Dec 2024 | 119.5 | 102.79 | 122.4 | 89.38 |
| 20 Dec 2024 | 126.5 | 108.84 | 128.0 | 93.51 |
| 27 Dec 2024 | 138.4 | 119.06 | 141.3 | 103.18 |
| 3 Jan 2025 | 144.1 | 123.97 | 140.6 | 102.67 |
| 10 Jan 2025 | 132.6 | 114.07 | 127.5 | 93.10 |
| 17 Jan 2025 | 138.4 | 119.04 | 131.9 | 96.35 |
| 24 Jan 2025 | 144.7 | 124.51 | 145.4 | 106.18 |
| 31 Jan 2025 | 154.9 | 133.23 | 157.8 | 115.25 |
| 7 Feb 2025 | 157.5 | 135.48 | 152.6 | 111.47 |
| 14 Feb 2025 | 142.4 | 122.47 | 138.4 | 101.07 |
| 21 Feb 2025 | 128.5 | 110.51 | 125.9 | 91.99 |
| 28 Feb 2025 | 123.2 | 105.98 | 123.1 | 89.94 |
| 7 Mar 2025 | 112.4 | 96.66 | 111.7 | 81.59 |
| 14 Mar 2025 | 120.7 | 103.85 | 119.2 | 87.05 |
| 21 Mar 2025 | 119.9 | 103.13 | 122.0 | 89.10 |
| 28 Mar 2025 | 114.0 | 98.08 | 117.2 | 85.62 |
| 4 Apr 2025 | 102.9 | 88.49 | 100.0 | 73.05 |
| 11 Apr 2025 | 96.2 | 82.76 | 98.0 | 71.55 |
| 17 Apr 2025 | 101.2 | 87.01 | 103.1 | 75.32 |
| 25 Apr 2025 | 90.4 | 77.77 | 99.2 | 72.43 |
| 2 May 2025 | 92.6 | 79.63 | 101.0 | 73.80 |
| 9 May 2025 | 95.9 | 82.48 | 103.4 | 75.50 |
| 16 May 2025 | 97.0 | 83.42 | 103.3 | 75.42 |
| 23 May 2025 | 101.5 | 87.33 | 106.5 | 77.78 |
| 30 May 2025 | 93.4 | 80.38 | 97.5 | 71.22 |
| 6 Jun 2025 | 98.7 | 84.90 | 104.8 | 76.55 |
| 13 Jun 2025 | 103.8 | 89.27 | 111.8 | 81.65 |
| 20 Jun 2025 | 111.2 | 95.66 | 112.1 | 81.88 |
| 27 Jun 2025 | 88.4 | 76.05 | 97.8 | 71.40 |
| 4 Jul 2025 | 92.0 | 79.12 | 99.1 | 72.38 |
| 11 Jul 2025 | 99.3 | 85.44 | 104.0 | 75.95 |
| 18 Jul 2025 | 92.9 | 79.92 | 99.1 | 72.40 |
| 25 Jul 2025 | 91.4 | 78.65 | 100.0 | 73.05 |
| 1 Aug 2025 | 96.9 | 83.33 | 105.7 | 77.20 |
| 8 Aug 2025 | 91.9 | 79.09 | 105.7 | 77.24 |
| 15 Aug 2025 | 88.6 | 76.23 | 100.7 | 73.52 |
| 22 Aug 2025 | 96.7 | 83.14 | 106.9 | 78.08 |
| 29 Aug 2025 | 90.6 | 77.95 | 101.6 | 74.18 |
| 5 Sep 2025 | 93.9 | 80.75 | 101.9 | 74.43 |
| 12 Sep 2025 | 96.0 | 82.60 | 102.3 | 74.75 |
| 19 Sep 2025 | 95.5 | 82.18 | 104.0 | 75.95 |
| 26 Sep 2025 | 96.9 | 83.32 | 101.8 | 74.38 |
| 3 Oct 2025 | 95.2 | 81.87 | 111.9 | 81.71 |
| 10 Oct 2025 | 96.5 | 83.03 | 113.5 | 82.92 |
| 17 Oct 2025 | 95.0 | 81.75 | 113.8 | 83.12 |
| 24 Oct 2025 | 95.1 | 81.82 | 108.4 | 79.21 |
| 31 Oct 2025 | 94.0 | 80.86 | 109.2 | 79.78 |
| 7 Nov 2025 | 95.2 | 81.90 | 110.6 | 80.79 |
| 14 Nov 2025 | 96.1 | 82.65 | 113.1 | 82.58 |
| 21 Nov 2025 | 92.0 | 79.10 | 111.8 | 81.68 |
| 28 Nov 2025 | 87.5 | 75.24 | 112.6 | 82.24 |
| 5 Dec 2025 | 82.0 | 70.55 | 107.9 | 78.83 |
| 12 Dec 2025 | 84.0 | 72.22 | 112.2 | 81.93 |
| 19 Dec 2025 | 85.9 | 73.91 | 117.2 | 85.58 |
| 26 Dec 2025 | 85.2 | 73.25 | 116.8 | 85.32 |
| 2 Jan 2026 | 85.0 | 73.11 | 114.7 | 83.75 |
| 9 Jan 2026 | 82.4 | 70.84 | 113.4 | 82.83 |
| 16 Jan 2026 | 106.7 | 91.80 | 143.8 | 105.02 |
| 23 Jan 2026 | 114.2 | 98.26 | 145.9 | 106.56 |
| 30 Jan 2026 | 110.7 | 95.20 | 137.1 | 100.17 |
| 6 Feb 2026 | 95.5 | 82.18 | 113.6 | 83.00 |
| 13 Feb 2026 | 87.3 | 75.10 | 101.4 | 74.08 |
| 20 Feb 2026 | 89.3 | 76.82 | 101.2 | 73.90 |
| 27 Feb 2026 | 90.9 | 78.23 | 100.4 | 73.31 |
| 6 Mar 2026 | 156.0 | 134.17 | 139.1 | 101.63 |
| 13 Mar 2026 | 147.9 | 127.19 | 132.5 | 96.79 |
| 20 Mar 2026 | 174.3 | 149.97 | 145.7 | 106.42 |
| 27 Mar 2026 | 158.6 | 136.39 | 135.8 | 99.20 |
| 2 Apr 2026 | 146.4 | 125.95 | 131.3 | 95.90 |
| 10 Apr 2026 | 127.0 | 109.21 | 119.1 | 87.01 |
| 17 Apr 2026 | 111.7 | 96.12 | 112.8 | 82.39 |
| 24 Apr 2026 | 129.3 | 111.23 | 123.2 | 90.01 |
| 1 May 2026 | 129.1 | 111.06 | 127.3 | 92.98 |
| 8 May 2026 | 124.6 | 107.17 | 126.4 | 92.30 |
| 15 May 2026 | 142.8 | 122.82 | 140.5 | 102.62 |
| 22 May 2026 | 136.3 | 117.24 | 137.7 | 100.58 |
| 29 May 2026 | 128.1 | 110.23 | 136.4 | 99.66 |
| 5 Jun 2026 | 136.3 | 117.21 | 140.9 | 102.89 |
| 12 Jun 2026 | 130.1 | 111.95 | 135.1 | 98.70 |
| 19 Jun 2026 | 117.7 | 101.24 | 129.7 | 94.71 |
| 26 Jun 2026 | 113.5 | 97.67 | 124.4 | 90.89 |
| 3 Jul 2026 | 125.7 | 108.14 | 132.5 | 96.76 |
| 10 Jul 2026 | 135.7 | 116.74 | 139.9 | 102.20 |
| 17 Jul 2026 | 162.1 | 139.42 | 158.0 | 115.38 |
| 24 Jul 2026 | 176.8 | 152.04 | 174.1 | 127.18 |
| 31 Jul 2026 | 164.5 | 141.54 | 165.4 | 120.78 |
| 7 Aug 2026 | 158.2 | 136.12 | 158.5 | 115.74 |
| 14 Aug 2026 | 173.7 | 149.40 | 169.2 | 123.62 |
| 21 Aug 2026 | 190.0 | 163.46 | 176.2 | 128.68 |
| 28 Aug 2026 | 188.8 | 162.38 | 178.4 | 130.34 |
| 4 Sep 2026 | 208.0 | 178.90 | 191.5 | 139.89 |
| 11 Sep 2026 | 231.5 | 199.17 | 209.8 | 153.22 |
Numbers from PEP-ICD chart data as of 12th September 2026. Closing rates are indicative; live rates and the full chart suite are available through the TRIBARClient portal.