GAS UK Natural Gas · NBP
Day-Ahead
223.93p/therm +3.71 · +1.7%
30d 172.72 – 223.93 close 23 Oct 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 — 23rd October 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
228.31p/therm +6.87 · +3.1%
30d 172.62 – 228.31 close 23 Oct 2026
GAS UK Natural Gas · NBP
Quarter-Ahead
227.61p/therm +6.48 · +2.9%
30d 175.25 – 227.61 close 23 Oct 2026
GAS UK Natural Gas · NBP
Season-Ahead
174.77p/therm +3.90 · +2.3%
30d 134.01 – 208.63 close 23 Oct 2026
Gas · Forward market
GAS UK Natural Gas · NBP
SUM 27
174.77p/therm +3.90 · +2.3%
30d 127.66 – 174.77 close 23 Oct 2026
GAS UK Natural Gas · NBP
WIN 27
166.18p/therm +3.53 · +2.2%
30d 123.63 – 166.18 close 23 Oct 2026
GAS UK Natural Gas · NBP
SUM 28
103.67p/therm +1.62 · +1.6%
30d 80.70 – 103.67 close 23 Oct 2026
GAS UK Natural Gas · NBP
WIN 28
107.28p/therm +1.31 · +1.2%
30d 87.88 – 107.28 close 23 Oct 2026
Electricity · Prompt market
PWR UK Electricity · Baseload
Day-Ahead
162.95£/MWh +11.18 · +7.4%
30d 33.89 – 185.28 close 23 Oct 2026
PWR UK Electricity · Baseload
Month-Ahead
180.37£/MWh +6.17 · +3.5%
30d 138.82 – 180.37 close 23 Oct 2026
PWR UK Electricity · Baseload
Quarter-Ahead
183.59£/MWh +5.42 · +3.0%
30d 142.63 – 183.59 close 23 Oct 2026
PWR UK Electricity · Baseload
Season-Ahead
132.50£/MWh +2.67 · +2.1%
30d 107.18 – 166.61 close 23 Oct 2026
Electricity · Forward market
PWR UK Electricity · Baseload
SUM 27
132.50£/MWh +2.67 · +2.1%
30d 102.41 – 132.50 close 23 Oct 2026
PWR UK Electricity · Baseload
WIN 27
132.27£/MWh +2.68 · +2.1%
30d 104.75 – 132.27 close 23 Oct 2026
PWR UK Electricity · Baseload
SUM 28
84.83£/MWh +1.73 · +2.1%
30d 69.50 – 84.83 close 23 Oct 2026
PWR UK Electricity · Baseload
WIN 28
90.35£/MWh +1.36 · +1.5%
30d 79.45 – 90.35 close 23 Oct 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 | +1.7% | +4.5% | +8.1% | |
| Month-Aheadp/therm | +3.1% | +5.2% | +10.0% | |
| Quarter-Aheadp/therm | +2.9% | +4.7% | +8.8% | |
| Season-Aheadp/therm | +2.3% | +6.2% | −16.2% | |
| SUM 27p/therm | +2.3% | +6.2% | +27.5% | |
| WIN 27p/therm | +2.2% | +6.4% | +28.5% | |
| SUM 28p/therm | +1.6% | +6.4% | +28.2% | |
| WIN 28p/therm | +1.2% | +5.2% | +21.7% | |
| UK Electricity · Baseload | ||||
| Day-Ahead£/MWh | +7.4% | −1.7% | +6.8% | |
| Month-Ahead£/MWh | +3.5% | +6.4% | +13.9% | |
| Quarter-Ahead£/MWh | +3.0% | +4.4% | +14.9% | |
| Season-Ahead£/MWh | +2.1% | +4.2% | −17.7% | |
| SUM 27£/MWh | +2.1% | +4.2% | +20.9% | |
| WIN 27£/MWh | +2.1% | +4.8% | +21.7% | |
| SUM 28£/MWh | +2.1% | +5.1% | +18.8% | |
| WIN 28£/MWh | +1.5% | +4.6% | +11.2% | |
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 · 23 Oct 2026
One month ago · 23 Sep 2026
p/therm
View as table
| Contract | Latest close (p/therm) | One month ago |
|---|---|---|
| NOV 26 | 229.49 | 183.59 |
| DEC 26 | 232.41 | 185.41 |
| JAN 27 | 233.68 | 186.13 |
| FEB 27 | 232.33 | 183.67 |
| MAR 27 | 220.25 | 173.82 |
| APR 27 | 192.78 | 146.58 |
| MAY 27 | 180.13 | 134.25 |
| JUN 27 | 172.10 | 127.60 |
| JUL 27 | 168.45 | 125.13 |
| AUG 27 | 167.74 | 125.78 |
| SEP 27 | 167.67 | 124.20 |
| OCT 27 | 165.64 | 124.94 |
| NOV 27 | 168.66 | 128.73 |
| DEC 27 | 170.90 | 131.21 |
| JAN 28 | 170.15 | 131.15 |
| FEB 28 | 166.36 | 128.79 |
| MAR 28 | 155.44 | 118.26 |
| APR 28 | 115.79 | 91.70 |
| MAY 28 | 105.73 | 83.77 |
| JUN 28 | 102.74 | 81.10 |
| JUL 28 | 98.88 | 79.53 |
| AUG 28 | 98.97 | 79.49 |
| SEP 28 | 100.14 | 80.68 |
| OCT 28 | 104.19 | 86.23 |
| NOV 28 | 107.14 | 89.14 |
| DEC 28 | 109.45 | 91.43 |
| JAN 29 | 109.76 | 93.26 |
| FEB 29 | 108.35 | 91.79 |
| MAR 29 | 104.89 | 88.60 |
| APR 29 | 84.58 | 73.60 |
| MAY 29 | 80.23 | 69.56 |
| JUN 29 | 78.27 | 67.75 |
| JUL 29 | 77.72 | 67.03 |
| AUG 29 | 78.33 | 67.63 |
| SEP 29 | 79.54 | 68.93 |
| OCT 29 | 83.67 | 74.35 |
| NOV 29 | 86.55 | 77.08 |
| DEC 29 | 88.79 | 79.20 |
| JAN 30 | 90.01 | 80.46 |
| FEB 30 | 90.35 | 80.78 |
| MAR 30 | 88.00 | 79.03 |
| APR 30 | 76.49 | 71.68 |
| MAY 30 | 73.85 | 69.23 |
| JUN 30 | 71.46 | 66.84 |
| JUL 30 | 69.58 | 65.08 |
| AUG 30 | 69.17 | 64.68 |
| SEP 30 | 70.83 | 66.11 |
| OCT 30 | 78.16 | 72.39 |
| NOV 30 | 81.28 | 75.16 |
| DEC 30 | 83.22 | 77.13 |
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 · 23 Oct 26
1 week ago · 16 Oct 26
1 month ago · 23 Sep 26
3 months ago · 23 Jul 26
6 months ago · 23 Apr 26
View as table
| Season | Last close (p/therm) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| SUM 27 | 174.77 | 164.53 | 130.55 | 99.90 | 84.96 |
| WIN 27 | 166.18 | 156.13 | 127.15 | 97.25 | 86.01 |
| SUM 28 | 103.67 | 97.47 | 82.68 | 69.50 | 65.15 |
| WIN 28 | 107.28 | 101.94 | 90.05 | 76.50 | 71.15 |
| SUM 29 | 79.76 | 76.47 | 69.06 | 60.78 | 58.92 |
| WIN 29 | 87.86 | 84.75 | 78.45 | 69.82 | 67.36 |
Last close · 23 Oct 26
1 week ago · 16 Oct 26
1 month ago · 23 Sep 26
3 months ago · 23 Jul 26
6 months ago · 23 Apr 26
View as table
| Season | Last close (£/MWh) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| SUM 27 | 132.50 | 127.18 | 103.07 | 87.14 | 73.74 |
| WIN 27 | 132.27 | 126.22 | 104.97 | 87.83 | 77.98 |
| SUM 28 | 84.83 | 80.74 | 70.67 | 66.00 | 60.14 |
| WIN 28 | 90.35 | 86.40 | 80.04 | 73.27 | 68.80 |
| SUM 29 | 74.30 | 72.74 | 66.80 | 63.56 | 60.87 |
| WIN 29 | 80.11 | 79.52 | 74.55 | 72.50 | 68.59 |
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 SUM 27 | 84.96 p/therm | 174.77 p/therm | +105.7% |
| Gas WIN 27 | 86.01 p/therm | 166.18 p/therm | +93.2% |
| Gas SUM 28 | 65.15 p/therm | 103.67 p/therm | +59.1% |
| Gas WIN 28 | 71.15 p/therm | 107.28 p/therm | +50.8% |
| Gas SUM 29 | 58.92 p/therm | 79.76 p/therm | +35.4% |
| Gas WIN 29 | 67.36 p/therm | 87.86 p/therm | +30.4% |
| Power SUM 27 | 73.74 £/MWh | 132.50 £/MWh | +79.7% |
| Power WIN 27 | 77.98 £/MWh | 132.27 £/MWh | +69.6% |
| Power SUM 28 | 60.14 £/MWh | 84.83 £/MWh | +41.1% |
| Power WIN 28 | 68.80 £/MWh | 90.35 £/MWh | +31.3% |
| Power SUM 29 | 60.87 £/MWh | 74.30 £/MWh | +22.1% |
| Power WIN 29 | 68.59 £/MWh | 80.11 £/MWh | +16.8% |
06 · Daily evolution
Each day's closing seasonal forward price over an 18-month period
Feel free to drag the zoom!
SUM 27WIN 27SUM 28WIN 28SUM 29WIN 29p/therm · weekly closes, last 12 months
SUM 27WIN 27SUM 28WIN 28SUM 29WIN 29£/MWh · weekly closes, last 12 months
07 · Month-ahead delivery prices, gas versus electricity
Tracking the correlation coefficient
Weekly closing prices indexed to 100 at 25 Oct 2024 reflecting comparative value.
Gas · NBP month-ahead
Electricity · UK Baseload month-ahead
indexed, 25 Oct 2024 = 100
View as table
| Week ending | Gas index | Gas (p/therm) | Electricity index | Electricity (£/MWh) |
|---|---|---|---|---|
| 25 Oct 2024 | 100.0 | 110.07 | 100.0 | 96.00 |
| 1 Nov 2024 | 89.4 | 98.37 | 92.9 | 89.20 |
| 8 Nov 2024 | 96.9 | 106.63 | 93.5 | 89.77 |
| 15 Nov 2024 | 105.8 | 116.40 | 99.8 | 95.85 |
| 22 Nov 2024 | 106.0 | 116.69 | 99.3 | 95.33 |
| 29 Nov 2024 | 106.4 | 117.09 | 100.6 | 96.60 |
| 6 Dec 2024 | 104.8 | 115.35 | 102.6 | 98.48 |
| 13 Dec 2024 | 93.4 | 102.79 | 93.1 | 89.38 |
| 20 Dec 2024 | 98.9 | 108.84 | 97.4 | 93.51 |
| 27 Dec 2024 | 108.2 | 119.06 | 107.5 | 103.18 |
| 3 Jan 2025 | 112.6 | 123.97 | 107.0 | 102.67 |
| 10 Jan 2025 | 103.6 | 114.07 | 97.0 | 93.10 |
| 17 Jan 2025 | 108.2 | 119.04 | 100.4 | 96.35 |
| 24 Jan 2025 | 113.1 | 124.51 | 110.6 | 106.18 |
| 31 Jan 2025 | 121.0 | 133.23 | 120.0 | 115.25 |
| 7 Feb 2025 | 123.1 | 135.48 | 116.1 | 111.47 |
| 14 Feb 2025 | 111.3 | 122.47 | 105.3 | 101.07 |
| 21 Feb 2025 | 100.4 | 110.51 | 95.8 | 91.99 |
| 28 Feb 2025 | 96.3 | 105.98 | 93.7 | 89.94 |
| 7 Mar 2025 | 87.8 | 96.66 | 85.0 | 81.59 |
| 14 Mar 2025 | 94.3 | 103.85 | 90.7 | 87.05 |
| 21 Mar 2025 | 93.7 | 103.13 | 92.8 | 89.10 |
| 28 Mar 2025 | 89.1 | 98.08 | 89.2 | 85.62 |
| 4 Apr 2025 | 80.4 | 88.49 | 76.1 | 73.05 |
| 11 Apr 2025 | 75.2 | 82.76 | 74.5 | 71.55 |
| 17 Apr 2025 | 79.1 | 87.01 | 78.5 | 75.32 |
| 25 Apr 2025 | 70.7 | 77.77 | 75.4 | 72.43 |
| 2 May 2025 | 72.3 | 79.63 | 76.9 | 73.80 |
| 9 May 2025 | 74.9 | 82.48 | 78.6 | 75.50 |
| 16 May 2025 | 75.8 | 83.42 | 78.6 | 75.42 |
| 23 May 2025 | 79.3 | 87.33 | 81.0 | 77.78 |
| 30 May 2025 | 73.0 | 80.38 | 74.2 | 71.22 |
| 6 Jun 2025 | 77.1 | 84.90 | 79.7 | 76.55 |
| 13 Jun 2025 | 81.1 | 89.27 | 85.1 | 81.65 |
| 20 Jun 2025 | 86.9 | 95.66 | 85.3 | 81.88 |
| 27 Jun 2025 | 69.1 | 76.05 | 74.4 | 71.40 |
| 4 Jul 2025 | 71.9 | 79.12 | 75.4 | 72.38 |
| 11 Jul 2025 | 77.6 | 85.44 | 79.1 | 75.95 |
| 18 Jul 2025 | 72.6 | 79.92 | 75.4 | 72.40 |
| 25 Jul 2025 | 71.5 | 78.65 | 76.1 | 73.05 |
| 1 Aug 2025 | 75.7 | 83.33 | 80.4 | 77.20 |
| 8 Aug 2025 | 71.9 | 79.09 | 80.5 | 77.24 |
| 15 Aug 2025 | 69.3 | 76.23 | 76.6 | 73.52 |
| 22 Aug 2025 | 75.5 | 83.14 | 81.3 | 78.08 |
| 29 Aug 2025 | 70.8 | 77.95 | 77.3 | 74.18 |
| 5 Sep 2025 | 73.4 | 80.75 | 77.5 | 74.43 |
| 12 Sep 2025 | 75.0 | 82.60 | 77.9 | 74.75 |
| 19 Sep 2025 | 74.7 | 82.18 | 79.1 | 75.95 |
| 26 Sep 2025 | 75.7 | 83.32 | 77.5 | 74.38 |
| 3 Oct 2025 | 74.4 | 81.87 | 85.1 | 81.71 |
| 10 Oct 2025 | 75.4 | 83.03 | 86.4 | 82.92 |
| 17 Oct 2025 | 74.3 | 81.75 | 86.6 | 83.12 |
| 24 Oct 2025 | 74.3 | 81.82 | 82.5 | 79.21 |
| 31 Oct 2025 | 73.5 | 80.86 | 83.1 | 79.78 |
| 7 Nov 2025 | 74.4 | 81.90 | 84.2 | 80.79 |
| 14 Nov 2025 | 75.1 | 82.65 | 86.0 | 82.58 |
| 21 Nov 2025 | 71.9 | 79.10 | 85.1 | 81.68 |
| 28 Nov 2025 | 68.4 | 75.24 | 85.7 | 82.24 |
| 5 Dec 2025 | 64.1 | 70.55 | 82.1 | 78.83 |
| 12 Dec 2025 | 65.6 | 72.22 | 85.3 | 81.93 |
| 19 Dec 2025 | 67.2 | 73.91 | 89.2 | 85.58 |
| 26 Dec 2025 | 66.6 | 73.25 | 88.9 | 85.32 |
| 2 Jan 2026 | 66.4 | 73.11 | 87.2 | 83.75 |
| 9 Jan 2026 | 64.4 | 70.84 | 86.3 | 82.83 |
| 16 Jan 2026 | 83.4 | 91.80 | 109.4 | 105.02 |
| 23 Jan 2026 | 89.3 | 98.26 | 111.0 | 106.56 |
| 30 Jan 2026 | 86.5 | 95.20 | 104.3 | 100.17 |
| 6 Feb 2026 | 74.7 | 82.18 | 86.5 | 83.00 |
| 13 Feb 2026 | 68.2 | 75.10 | 77.2 | 74.08 |
| 20 Feb 2026 | 69.8 | 76.82 | 77.0 | 73.90 |
| 27 Feb 2026 | 71.1 | 78.23 | 76.4 | 73.31 |
| 6 Mar 2026 | 121.9 | 134.17 | 105.9 | 101.63 |
| 13 Mar 2026 | 115.6 | 127.19 | 100.8 | 96.79 |
| 20 Mar 2026 | 136.3 | 149.97 | 110.9 | 106.42 |
| 27 Mar 2026 | 123.9 | 136.39 | 103.3 | 99.20 |
| 2 Apr 2026 | 114.4 | 125.95 | 99.9 | 95.90 |
| 10 Apr 2026 | 99.2 | 109.21 | 90.6 | 87.01 |
| 17 Apr 2026 | 87.3 | 96.12 | 85.8 | 82.39 |
| 24 Apr 2026 | 101.1 | 111.23 | 93.8 | 90.01 |
| 1 May 2026 | 100.9 | 111.06 | 96.8 | 92.98 |
| 8 May 2026 | 97.4 | 107.17 | 96.1 | 92.30 |
| 15 May 2026 | 111.6 | 122.82 | 106.9 | 102.62 |
| 22 May 2026 | 106.5 | 117.24 | 104.8 | 100.58 |
| 29 May 2026 | 100.2 | 110.23 | 103.8 | 99.66 |
| 5 Jun 2026 | 106.5 | 117.21 | 107.2 | 102.89 |
| 12 Jun 2026 | 101.7 | 111.95 | 102.8 | 98.70 |
| 19 Jun 2026 | 92.0 | 101.24 | 98.7 | 94.71 |
| 26 Jun 2026 | 88.7 | 97.67 | 94.7 | 90.89 |
| 3 Jul 2026 | 98.3 | 108.14 | 100.8 | 96.76 |
| 10 Jul 2026 | 106.1 | 116.74 | 106.5 | 102.20 |
| 17 Jul 2026 | 126.7 | 139.42 | 120.2 | 115.38 |
| 24 Jul 2026 | 138.1 | 152.04 | 132.5 | 127.18 |
| 31 Jul 2026 | 128.6 | 141.54 | 125.8 | 120.78 |
| 7 Aug 2026 | 123.7 | 136.12 | 120.6 | 115.74 |
| 14 Aug 2026 | 135.7 | 149.40 | 128.8 | 123.62 |
| 21 Aug 2026 | 148.5 | 163.46 | 134.0 | 128.68 |
| 28 Aug 2026 | 147.5 | 162.38 | 135.8 | 130.34 |
| 4 Sep 2026 | 162.5 | 178.90 | 145.7 | 139.89 |
| 11 Sep 2026 | 181.0 | 199.17 | 159.6 | 153.22 |
| 18 Sep 2026 | 178.9 | 196.86 | 159.7 | 153.34 |
| 25 Sep 2026 | 162.2 | 178.49 | 148.0 | 142.05 |
| 2 Oct 2026 | 171.7 | 189.01 | 159.9 | 153.49 |
| 9 Oct 2026 | 184.4 | 202.98 | 169.3 | 162.52 |
| 16 Oct 2026 | 197.1 | 216.98 | 176.5 | 169.45 |
| 23 Oct 2026 | 207.4 | 228.31 | 187.9 | 180.37 |
Numbers from PEP-ICD chart data as of 23rd October 2026. Closing rates are indicative; live rates and the full chart suite are available through the TRIBARClient portal.