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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 — 2nd 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

Day-Ahead

180.48p/therm +3.10 · +1.8%

30d 129.10 – 180.48 close 2 Sep 2026

GAS UK Natural Gas · NBP

Month-Ahead

181.71p/therm +3.51 · +2.0%

30d 128.94 – 181.71 close 2 Sep 2026

GAS UK Natural Gas · NBP

Quarter-Ahead

184.39p/therm +3.51 · +1.9%

30d 131.90 – 184.39 close 2 Sep 2026

GAS UK Natural Gas · NBP

Season-Ahead

182.36p/therm +3.76 · +2.1%

30d 129.41 – 182.36 close 2 Sep 2026

Gas · Forward market

GAS UK Natural Gas · NBP

WIN 26

182.36p/therm +3.76 · +2.1%

30d 129.41 – 182.36 close 2 Sep 2026

GAS UK Natural Gas · NBP

SUM 27

121.58p/therm +4.54 · +3.9%

30d 86.85 – 121.58 close 2 Sep 2026

GAS UK Natural Gas · NBP

WIN 27

118.07p/therm +4.80 · +4.2%

30d 86.88 – 118.07 close 2 Sep 2026

GAS UK Natural Gas · NBP

SUM 28

79.23p/therm +1.87 · +2.4%

30d 65.12 – 79.23 close 2 Sep 2026

Electricity · Prompt market

PWR UK Electricity · Baseload

Day-Ahead

153.70£/MWh +23.17 · +17.8%

30d 88.84 – 153.70 close 2 Sep 2026

PWR UK Electricity · Baseload

Month-Ahead

141.86£/MWh +3.26 · +2.4%

30d 110.54 – 141.86 close 2 Sep 2026

PWR UK Electricity · Baseload

Quarter-Ahead

147.79£/MWh +3.36 · +2.3%

30d 113.46 – 147.79 close 2 Sep 2026

PWR UK Electricity · Baseload

Season-Ahead

147.39£/MWh +3.32 · +2.3%

30d 112.31 – 147.39 close 2 Sep 2026

Electricity · Forward market

PWR UK Electricity · Baseload

WIN 26

147.39£/MWh +3.32 · +2.3%

30d 112.31 – 147.39 close 2 Sep 2026

PWR UK Electricity · Baseload

SUM 27

99.83£/MWh +2.83 · +2.9%

30d 78.51 – 99.83 close 2 Sep 2026

PWR UK Electricity · Baseload

WIN 27

100.36£/MWh +2.57 · +2.6%

30d 81.00 – 100.36 close 2 Sep 2026

PWR UK Electricity · Baseload

SUM 28

70.68£/MWh +1.21 · +1.8%

30d 62.34 – 70.68 close 2 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 +1.8%+12.4%+21.1%
Month-Aheadp/therm +2.0%+11.8%+21.5%
Quarter-Aheadp/therm +1.9%+10.9%+20.0%
Season-Aheadp/therm +2.1%+10.8%+21.5%
WIN 26p/therm +2.1%+10.8%+21.5%
SUM 27p/therm +3.9%+14.3%+21.7%
WIN 27p/therm +4.2%+14.5%+21.4%
SUM 28p/therm +2.4%+9.4%+14.0%
UK Electricity · Baseload
Day-Ahead£/MWh +17.8%+10.7%+19.6%
Month-Ahead£/MWh +2.4%+9.4%+13.0%
Quarter-Ahead£/MWh +2.3%+8.8%+14.0%
Season-Ahead£/MWh +2.3%+8.5%+16.1%
WIN 26£/MWh +2.3%+8.5%+16.1%
SUM 27£/MWh +2.9%+9.2%+14.6%
WIN 27£/MWh +2.6%+9.4%+14.3%
SUM 28£/MWh +1.8%+5.2%+7.1%

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 · 2 Sep 2026 One month ago · 2 Aug 2026 p/therm
View as table
Contract Latest close (p/therm) One month ago
OCT 26 181.89 143.98
NOV 26 185.13 147.12
DEC 26 186.55 148.11
JAN 27 187.15 147.67
FEB 27 184.05 142.08
MAR 27 169.64 127.82
APR 27 138.46 105.84
MAY 27 122.84 93.41
JUN 27 117.47 89.84
JUL 27 116.72 89.08
AUG 27 117.75 89.17
SEP 27 116.50 89.81
OCT 27 115.80 89.33
NOV 27 119.72 93.71
DEC 27 121.69 94.89
JAN 28 121.73 94.98
FEB 28 120.00 94.07
MAR 28 109.64 86.70
APR 28 87.38 74.68
MAY 28 80.19 69.02
JUN 28 77.81 67.05
JUL 28 76.23 65.39
AUG 28 76.27 65.39
SEP 28 77.65 66.43
OCT 28 82.96 71.82
NOV 28 85.73 74.62
DEC 28 87.99 76.93
JAN 29 89.66 78.23
FEB 29 88.36 77.75
MAR 29 85.31 74.87
APR 29 71.51 64.79
MAY 29 67.59 61.69
JUN 29 65.79 59.89
JUL 29 64.92 59.47
AUG 29 65.56 60.13
SEP 29 66.73 61.35
OCT 29 71.24 67.31
NOV 29 73.79 69.94
DEC 29 75.89 72.01
JAN 30 76.95 73.19
FEB 30 77.25 73.51
MAR 30 75.46 71.77
APR 30 69.31 66.05
MAY 30 66.94 63.82
JUN 30 64.56 61.58
JUL 30 62.80 59.71
AUG 30 62.42 59.20
SEP 30 63.86 60.04
OCT 30 70.82 66.88
NOV 30 73.61 69.64
DEC 30 75.59 71.63

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.

Gas · UK NBP seasonal forwards p/therm
Last close · 2 Sep 26 1 week ago · 26 Aug 26 1 month ago · 2 Aug 26 3 months ago · 2 Jun 26 6 months ago · 2 Mar 26
View as table
Season Last close (p/therm) 1 week ago 1 month ago 3 months ago 6 months ago
WIN 26 182.36 164.57 142.78 117.24 93.08
SUM 27 121.58 106.37 92.82 85.29 67.23
WIN 27 118.07 103.13 92.25 86.46 69.94
SUM 28 79.23 72.42 67.97 65.01 53.99
WIN 28 86.65 79.62 75.67 72.72 63.26
SUM 29 67.00 61.86 61.20 58.83 53.34
WIN 29 75.07 71.41 71.26 68.46 62.53
Electricity · UK Baseload seasonal forwards £/MWh
Last close · 2 Sep 26 1 week ago · 26 Aug 26 1 month ago · 2 Aug 26 3 months ago · 2 Jun 26 6 months ago · 2 Mar 26
View as table
Season Last close (£/MWh) 1 week ago 1 month ago 3 months ago 6 months ago
WIN 26 147.39 135.88 121.54 102.08 82.29
SUM 27 99.83 91.43 83.00 77.93 64.65
WIN 27 100.36 91.75 85.02 80.18 70.61
SUM 28 70.68 67.21 63.89 61.06 58.61
WIN 28 78.74 74.97 71.98 69.78 65.55
SUM 29 65.83 63.75 62.67 60.81 58.41
WIN 29 73.34 72.78 71.66 69.62 66.49

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.

Gas · UK NBP p/therm
Electricity · UK Baseload £/MWh
View as table
Season Six months ago Latest close Change
Gas WIN 26 93.08 p/therm 182.36 p/therm +95.9%
Gas SUM 27 67.23 p/therm 121.58 p/therm +80.8%
Gas WIN 27 69.94 p/therm 118.07 p/therm +68.8%
Gas SUM 28 53.99 p/therm 79.23 p/therm +46.7%
Gas WIN 28 63.26 p/therm 86.65 p/therm +37.0%
Gas SUM 29 53.34 p/therm 67.00 p/therm +25.6%
Gas WIN 29 62.53 p/therm 75.07 p/therm +20.1%
Power WIN 26 82.29 £/MWh 147.39 £/MWh +79.1%
Power SUM 27 64.65 £/MWh 99.83 £/MWh +54.4%
Power WIN 27 70.61 £/MWh 100.36 £/MWh +42.1%
Power SUM 28 58.61 £/MWh 70.68 £/MWh +20.6%
Power WIN 28 65.55 £/MWh 78.74 £/MWh +20.1%
Power SUM 29 58.41 £/MWh 65.83 £/MWh +12.7%
Power WIN 29 66.49 £/MWh 73.34 £/MWh +10.3%

06 · Daily evolution

Each day's closing seasonal forward price over an 18-month period

Feel free to drag the zoom!

Gas · UK NBP seasonal forwards
Electricity · UK Baseload seasonal forwards

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
2 Sep 2026 206.5 181.71 190.9 141.86

Numbers from PEP-ICD chart data as of 2nd September 2026. Closing rates are indicative; live rates and the full chart suite are available through the TRIBARClient portal.