GAS UK Natural Gas · NBP
Day-Ahead
175.35p/therm −5.13 · −2.8%
30d 129.10 – 180.48 close 3 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 — 3rd 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
176.66p/therm −5.05 · −2.8%
30d 128.94 – 181.71 close 3 Sep 2026
GAS UK Natural Gas · NBP
Quarter-Ahead
179.42p/therm −5.10 · −2.8%
30d 131.90 – 184.52 close 3 Sep 2026
GAS UK Natural Gas · NBP
Season-Ahead
177.98p/therm −4.38 · −2.4%
30d 129.41 – 182.36 close 3 Sep 2026
Gas · Forward market
GAS UK Natural Gas · NBP
WIN 26
177.98p/therm −4.38 · −2.4%
30d 129.41 – 182.36 close 3 Sep 2026
GAS UK Natural Gas · NBP
SUM 27
119.55p/therm −2.03 · −1.7%
30d 86.85 – 121.58 close 3 Sep 2026
GAS UK Natural Gas · NBP
WIN 27
116.05p/therm −2.02 · −1.7%
30d 86.88 – 118.07 close 3 Sep 2026
GAS UK Natural Gas · NBP
SUM 28
77.93p/therm −1.30 · −1.6%
30d 65.12 – 79.23 close 3 Sep 2026
Electricity · Prompt market
PWR UK Electricity · Baseload
Day-Ahead
114.15£/MWh −39.55 · −25.7%
30d 88.84 – 153.70 close 3 Sep 2026
PWR UK Electricity · Baseload
Month-Ahead
139.62£/MWh −2.24 · −1.6%
30d 110.54 – 141.86 close 3 Sep 2026
PWR UK Electricity · Baseload
Quarter-Ahead
145.58£/MWh −2.20 · −1.5%
30d 113.46 – 147.79 close 3 Sep 2026
PWR UK Electricity · Baseload
Season-Ahead
144.84£/MWh −2.55 · −1.7%
30d 112.31 – 147.39 close 3 Sep 2026
Electricity · Forward market
PWR UK Electricity · Baseload
WIN 26
144.84£/MWh −2.55 · −1.7%
30d 112.31 – 147.39 close 3 Sep 2026
PWR UK Electricity · Baseload
SUM 27
98.66£/MWh −1.17 · −1.2%
30d 78.51 – 99.83 close 3 Sep 2026
PWR UK Electricity · Baseload
WIN 27
99.30£/MWh −1.06 · −1.1%
30d 81.00 – 100.36 close 3 Sep 2026
PWR UK Electricity · Baseload
SUM 28
69.87£/MWh −0.81 · −1.1%
30d 62.34 – 70.68 close 3 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% | +5.9% | +15.7% | |
| Month-Aheadp/therm | −2.8% | +6.0% | +16.2% | |
| Quarter-Aheadp/therm | −2.8% | +4.9% | +14.5% | |
| Season-Aheadp/therm | −2.4% | +5.3% | +16.3% | |
| WIN 26p/therm | −2.4% | +5.3% | +16.3% | |
| SUM 27p/therm | −1.7% | +9.5% | +17.0% | |
| WIN 27p/therm | −1.7% | +9.8% | +16.8% | |
| SUM 28p/therm | −1.6% | +6.0% | +10.2% | |
| UK Electricity · Baseload | ||||
| Day-Ahead£/MWh | −25.7% | −12.5% | +28.5% | |
| Month-Ahead£/MWh | −1.6% | +4.8% | +9.8% | |
| Quarter-Ahead£/MWh | −1.5% | +5.3% | +11.2% | |
| Season-Ahead£/MWh | −1.7% | +5.0% | +12.9% | |
| WIN 26£/MWh | −1.7% | +5.0% | +12.9% | |
| SUM 27£/MWh | −1.2% | +6.5% | +11.2% | |
| WIN 27£/MWh | −1.1% | +7.5% | +11.6% | |
| SUM 28£/MWh | −1.1% | +3.7% | +5.3% | |
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 · 3 Sep 2026
One month ago · 3 Aug 2026
p/therm
View as table
| Contract | Latest close (p/therm) | One month ago |
|---|---|---|
| OCT 26 | 177.40 | 141.90 |
| NOV 26 | 180.58 | 145.34 |
| DEC 26 | 182.07 | 146.33 |
| JAN 27 | 183.03 | 146.07 |
| FEB 27 | 179.54 | 140.89 |
| MAR 27 | 165.48 | 125.81 |
| APR 27 | 136.22 | 103.15 |
| MAY 27 | 121.04 | 90.58 |
| JUN 27 | 115.35 | 86.88 |
| JUL 27 | 116.14 | 86.65 |
| AUG 27 | 115.03 | 86.71 |
| SEP 27 | 113.76 | 87.39 |
| OCT 27 | 113.77 | 86.56 |
| NOV 27 | 117.69 | 90.95 |
| DEC 27 | 119.70 | 92.13 |
| JAN 28 | 119.86 | 92.23 |
| FEB 28 | 117.83 | 91.33 |
| MAR 28 | 107.62 | 84.03 |
| APR 28 | 86.21 | 72.73 |
| MAY 28 | 78.90 | 67.17 |
| JUN 28 | 76.37 | 65.28 |
| JUL 28 | 74.94 | 63.91 |
| AUG 28 | 74.97 | 63.91 |
| SEP 28 | 76.35 | 64.95 |
| OCT 28 | 81.61 | 70.28 |
| NOV 28 | 84.40 | 73.08 |
| DEC 28 | 86.65 | 75.39 |
| JAN 29 | 88.68 | 76.70 |
| FEB 29 | 87.38 | 76.22 |
| MAR 29 | 84.33 | 73.34 |
| APR 29 | 70.86 | 63.71 |
| MAY 29 | 66.95 | 60.60 |
| JUN 29 | 65.15 | 58.81 |
| JUL 29 | 64.27 | 58.38 |
| AUG 29 | 64.90 | 59.05 |
| SEP 29 | 66.10 | 60.26 |
| OCT 29 | 70.70 | 66.24 |
| NOV 29 | 73.29 | 68.87 |
| DEC 29 | 75.41 | 70.95 |
| JAN 30 | 76.44 | 72.05 |
| FEB 30 | 76.73 | 72.37 |
| MAR 30 | 74.95 | 70.62 |
| APR 30 | 68.94 | 65.08 |
| MAY 30 | 66.58 | 62.85 |
| JUN 30 | 64.20 | 60.61 |
| JUL 30 | 62.42 | 58.60 |
| AUG 30 | 62.04 | 58.07 |
| SEP 30 | 63.47 | 58.90 |
| OCT 30 | 70.33 | 65.73 |
| NOV 30 | 73.10 | 68.49 |
| DEC 30 | 75.08 | 70.48 |
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 · 3 Sep 26
1 week ago · 27 Aug 26
1 month ago · 3 Aug 26
3 months ago · 3 Jun 26
6 months ago · 3 Mar 26
View as table
| Season | Last close (p/therm) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| WIN 26 | 177.98 | 169.06 | 141.03 | 120.14 | 109.62 |
| SUM 27 | 119.55 | 109.21 | 90.19 | 85.74 | 74.04 |
| WIN 27 | 116.05 | 105.67 | 89.51 | 87.01 | 70.55 |
| SUM 28 | 77.93 | 73.49 | 66.30 | 65.13 | 53.99 |
| WIN 28 | 85.48 | 80.93 | 74.14 | 72.93 | 62.67 |
| SUM 29 | 66.35 | 62.83 | 60.12 | 58.81 | 53.01 |
| WIN 29 | 74.56 | 71.88 | 70.15 | 68.44 | 62.79 |
Last close · 3 Sep 26
1 week ago · 27 Aug 26
1 month ago · 3 Aug 26
3 months ago · 3 Jun 26
6 months ago · 3 Mar 26
View as table
| Season | Last close (£/MWh) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| WIN 26 | 144.84 | 137.89 | 119.80 | 103.68 | 92.32 |
| SUM 27 | 98.66 | 92.61 | 81.55 | 78.19 | 68.96 |
| WIN 27 | 99.30 | 92.35 | 83.30 | 80.35 | 69.75 |
| SUM 28 | 69.87 | 67.37 | 63.15 | 61.15 | 58.84 |
| WIN 28 | 78.27 | 75.56 | 70.92 | 69.87 | 65.94 |
| SUM 29 | 65.59 | 63.97 | 62.09 | 60.89 | 59.11 |
| WIN 29 | 72.93 | 73.03 | 70.85 | 69.74 | 66.80 |
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 | 109.62 p/therm | 177.98 p/therm | +62.4% |
| Gas SUM 27 | 74.04 p/therm | 119.55 p/therm | +61.5% |
| Gas WIN 27 | 70.55 p/therm | 116.05 p/therm | +64.5% |
| Gas SUM 28 | 53.99 p/therm | 77.93 p/therm | +44.3% |
| Gas WIN 28 | 62.67 p/therm | 85.48 p/therm | +36.4% |
| Gas SUM 29 | 53.01 p/therm | 66.35 p/therm | +25.2% |
| Gas WIN 29 | 62.79 p/therm | 74.56 p/therm | +18.7% |
| Power WIN 26 | 92.32 £/MWh | 144.84 £/MWh | +56.9% |
| Power SUM 27 | 68.96 £/MWh | 98.66 £/MWh | +43.1% |
| Power WIN 27 | 69.75 £/MWh | 99.30 £/MWh | +42.4% |
| Power SUM 28 | 58.84 £/MWh | 69.87 £/MWh | +18.7% |
| Power WIN 28 | 65.94 £/MWh | 78.27 £/MWh | +18.7% |
| Power SUM 29 | 59.11 £/MWh | 65.59 £/MWh | +11.0% |
| Power WIN 29 | 66.80 £/MWh | 72.93 £/MWh | +9.2% |
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 6 Sep 2024 reflecting comparative value.
Gas · NBP month-ahead
Electricity · UK Baseload month-ahead
indexed, 6 Sep 2024 = 100
View as table
| Week ending | Gas index | Gas (p/therm) | Electricity index | Electricity (£/MWh) |
|---|---|---|---|---|
| 6 Sep 2024 | 100.0 | 87.99 | 100.0 | 74.31 |
| 13 Sep 2024 | 97.8 | 86.02 | 98.3 | 73.04 |
| 20 Sep 2024 | 94.6 | 83.27 | 94.1 | 69.93 |
| 27 Sep 2024 | 103.9 | 91.41 | 102.7 | 76.33 |
| 4 Oct 2024 | 115.9 | 101.99 | 117.0 | 86.98 |
| 11 Oct 2024 | 112.1 | 98.64 | 115.2 | 85.63 |
| 18 Oct 2024 | 110.9 | 97.60 | 114.8 | 85.32 |
| 25 Oct 2024 | 125.1 | 110.07 | 129.2 | 96.00 |
| 1 Nov 2024 | 111.8 | 98.37 | 120.0 | 89.20 |
| 8 Nov 2024 | 121.2 | 106.63 | 120.8 | 89.77 |
| 15 Nov 2024 | 132.3 | 116.40 | 129.0 | 95.85 |
| 22 Nov 2024 | 132.6 | 116.69 | 128.3 | 95.33 |
| 29 Nov 2024 | 133.1 | 117.09 | 130.0 | 96.60 |
| 6 Dec 2024 | 131.1 | 115.35 | 132.5 | 98.48 |
| 13 Dec 2024 | 116.8 | 102.79 | 120.3 | 89.38 |
| 20 Dec 2024 | 123.7 | 108.84 | 125.8 | 93.51 |
| 27 Dec 2024 | 135.3 | 119.06 | 138.8 | 103.18 |
| 3 Jan 2025 | 140.9 | 123.97 | 138.2 | 102.67 |
| 10 Jan 2025 | 129.6 | 114.07 | 125.3 | 93.10 |
| 17 Jan 2025 | 135.3 | 119.04 | 129.7 | 96.35 |
| 24 Jan 2025 | 141.5 | 124.51 | 142.9 | 106.18 |
| 31 Jan 2025 | 151.4 | 133.23 | 155.1 | 115.25 |
| 7 Feb 2025 | 154.0 | 135.48 | 150.0 | 111.47 |
| 14 Feb 2025 | 139.2 | 122.47 | 136.0 | 101.07 |
| 21 Feb 2025 | 125.6 | 110.51 | 123.8 | 91.99 |
| 28 Feb 2025 | 120.4 | 105.98 | 121.0 | 89.94 |
| 7 Mar 2025 | 109.8 | 96.66 | 109.8 | 81.59 |
| 14 Mar 2025 | 118.0 | 103.85 | 117.1 | 87.05 |
| 21 Mar 2025 | 117.2 | 103.13 | 119.9 | 89.10 |
| 28 Mar 2025 | 111.5 | 98.08 | 115.2 | 85.62 |
| 4 Apr 2025 | 100.6 | 88.49 | 98.3 | 73.05 |
| 11 Apr 2025 | 94.1 | 82.76 | 96.3 | 71.55 |
| 17 Apr 2025 | 98.9 | 87.01 | 101.4 | 75.32 |
| 25 Apr 2025 | 88.4 | 77.77 | 97.5 | 72.43 |
| 2 May 2025 | 90.5 | 79.63 | 99.3 | 73.80 |
| 9 May 2025 | 93.7 | 82.48 | 101.6 | 75.50 |
| 16 May 2025 | 94.8 | 83.42 | 101.5 | 75.42 |
| 23 May 2025 | 99.2 | 87.33 | 104.7 | 77.78 |
| 30 May 2025 | 91.4 | 80.38 | 95.8 | 71.22 |
| 6 Jun 2025 | 96.5 | 84.90 | 103.0 | 76.55 |
| 13 Jun 2025 | 101.5 | 89.27 | 109.9 | 81.65 |
| 20 Jun 2025 | 108.7 | 95.66 | 110.2 | 81.88 |
| 27 Jun 2025 | 86.4 | 76.05 | 96.1 | 71.40 |
| 4 Jul 2025 | 89.9 | 79.12 | 97.4 | 72.38 |
| 11 Jul 2025 | 97.1 | 85.44 | 102.2 | 75.95 |
| 18 Jul 2025 | 90.8 | 79.92 | 97.4 | 72.40 |
| 25 Jul 2025 | 89.4 | 78.65 | 98.3 | 73.05 |
| 1 Aug 2025 | 94.7 | 83.33 | 103.9 | 77.20 |
| 8 Aug 2025 | 89.9 | 79.09 | 103.9 | 77.24 |
| 15 Aug 2025 | 86.6 | 76.23 | 98.9 | 73.52 |
| 22 Aug 2025 | 94.5 | 83.14 | 105.1 | 78.08 |
| 29 Aug 2025 | 88.6 | 77.95 | 99.8 | 74.18 |
| 5 Sep 2025 | 91.8 | 80.75 | 100.2 | 74.43 |
| 12 Sep 2025 | 93.9 | 82.60 | 100.6 | 74.75 |
| 19 Sep 2025 | 93.4 | 82.18 | 102.2 | 75.95 |
| 26 Sep 2025 | 94.7 | 83.32 | 100.1 | 74.38 |
| 3 Oct 2025 | 93.0 | 81.87 | 110.0 | 81.71 |
| 10 Oct 2025 | 94.4 | 83.03 | 111.6 | 82.92 |
| 17 Oct 2025 | 92.9 | 81.75 | 111.9 | 83.12 |
| 24 Oct 2025 | 93.0 | 81.82 | 106.6 | 79.21 |
| 31 Oct 2025 | 91.9 | 80.86 | 107.4 | 79.78 |
| 7 Nov 2025 | 93.1 | 81.90 | 108.7 | 80.79 |
| 14 Nov 2025 | 93.9 | 82.65 | 111.1 | 82.58 |
| 21 Nov 2025 | 89.9 | 79.10 | 109.9 | 81.68 |
| 28 Nov 2025 | 85.5 | 75.24 | 110.7 | 82.24 |
| 5 Dec 2025 | 80.2 | 70.55 | 106.1 | 78.83 |
| 12 Dec 2025 | 82.1 | 72.22 | 110.3 | 81.93 |
| 19 Dec 2025 | 84.0 | 73.91 | 115.2 | 85.58 |
| 26 Dec 2025 | 83.2 | 73.25 | 114.8 | 85.32 |
| 2 Jan 2026 | 83.1 | 73.11 | 112.7 | 83.75 |
| 9 Jan 2026 | 80.5 | 70.84 | 111.5 | 82.83 |
| 16 Jan 2026 | 104.3 | 91.80 | 141.3 | 105.02 |
| 23 Jan 2026 | 111.7 | 98.26 | 143.4 | 106.56 |
| 30 Jan 2026 | 108.2 | 95.20 | 134.8 | 100.17 |
| 6 Feb 2026 | 93.4 | 82.18 | 111.7 | 83.00 |
| 13 Feb 2026 | 85.4 | 75.10 | 99.7 | 74.08 |
| 20 Feb 2026 | 87.3 | 76.82 | 99.5 | 73.90 |
| 27 Feb 2026 | 88.9 | 78.23 | 98.7 | 73.31 |
| 6 Mar 2026 | 152.5 | 134.17 | 136.8 | 101.63 |
| 13 Mar 2026 | 144.6 | 127.19 | 130.3 | 96.79 |
| 20 Mar 2026 | 170.4 | 149.97 | 143.2 | 106.42 |
| 27 Mar 2026 | 155.0 | 136.39 | 133.5 | 99.20 |
| 2 Apr 2026 | 143.1 | 125.95 | 129.1 | 95.90 |
| 10 Apr 2026 | 124.1 | 109.21 | 117.1 | 87.01 |
| 17 Apr 2026 | 109.2 | 96.12 | 110.9 | 82.39 |
| 24 Apr 2026 | 126.4 | 111.23 | 121.1 | 90.01 |
| 1 May 2026 | 126.2 | 111.06 | 125.1 | 92.98 |
| 8 May 2026 | 121.8 | 107.17 | 124.2 | 92.30 |
| 15 May 2026 | 139.6 | 122.82 | 138.1 | 102.62 |
| 22 May 2026 | 133.2 | 117.24 | 135.4 | 100.58 |
| 29 May 2026 | 125.3 | 110.23 | 134.1 | 99.66 |
| 5 Jun 2026 | 133.2 | 117.21 | 138.5 | 102.89 |
| 12 Jun 2026 | 127.2 | 111.95 | 132.8 | 98.70 |
| 19 Jun 2026 | 115.1 | 101.24 | 127.4 | 94.71 |
| 26 Jun 2026 | 111.0 | 97.67 | 122.3 | 90.89 |
| 3 Jul 2026 | 122.9 | 108.14 | 130.2 | 96.76 |
| 10 Jul 2026 | 132.7 | 116.74 | 137.5 | 102.20 |
| 17 Jul 2026 | 158.4 | 139.42 | 155.3 | 115.38 |
| 24 Jul 2026 | 172.8 | 152.04 | 171.2 | 127.18 |
| 31 Jul 2026 | 160.9 | 141.54 | 162.5 | 120.78 |
| 7 Aug 2026 | 154.7 | 136.12 | 155.8 | 115.74 |
| 14 Aug 2026 | 169.8 | 149.40 | 166.4 | 123.62 |
| 21 Aug 2026 | 185.8 | 163.46 | 173.2 | 128.68 |
| 28 Aug 2026 | 184.5 | 162.38 | 175.4 | 130.34 |
| 3 Sep 2026 | 200.8 | 176.66 | 187.9 | 139.62 |
Numbers from PEP-ICD chart data as of 3rd September 2026. Closing rates are indicative; live rates and the full chart suite are available through the TRIBARClient portal.