GAS UK Natural Gas · NBP
Day-Ahead
211.90p/therm −1.79 · −0.8%
30d 177.80 – 253.33 close 11 Nov 2026
Charts
The market, drawn daily
ICD reports everyday on the wider energy complex, and what's moving the UK energy and carbon markets. The dashboard below is drawn from the previous close — live rates sit behind the Tribar client portal.
01 · Market board
Every contract, at the close
Spot ladder and seasonal forwards for UK gas and power — priced at the 11 Nov 2026 close, with the last thirty trading days drawn behind each.
GAS UK Natural Gas · NBP
Month-Ahead
215.82p/therm +3.02 · +1.4%
30d 182.56 – 256.06 close 11 Nov 2026
GAS UK Natural Gas · NBP
Quarter-Ahead
211.78p/therm +4.00 · +1.9%
30d 183.19 – 252.10 close 11 Nov 2026
GAS UK Natural Gas · NBP
Season-Ahead
158.39p/therm +4.72 · +3.1%
30d 134.01 – 184.22 close 11 Nov 2026
GAS UK Natural Gas · NBP
SUM 27
158.39p/therm +4.72 · +3.1%
30d 134.01 – 184.22 close 11 Nov 2026
GAS UK Natural Gas · NBP
WIN 27
149.76p/therm +4.01 · +2.8%
30d 128.41 – 174.25 close 11 Nov 2026
GAS UK Natural Gas · NBP
SUM 28
89.16p/therm +1.18 · +1.3%
30d 84.35 – 108.66 close 11 Nov 2026
GAS UK Natural Gas · NBP
WIN 28
93.16p/therm +0.14 · +0.2%
30d 91.72 – 112.04 close 11 Nov 2026
PWR UK Electricity · Baseload
Day-Ahead
221.38£/MWh −25.29 · −10.3%
30d 20.32 – 252.68 close 11 Nov 2026
PWR UK Electricity · Baseload
Month-Ahead
182.38£/MWh +8.10 · +4.7%
30d 149.24 – 200.76 close 11 Nov 2026
PWR UK Electricity · Baseload
Quarter-Ahead
181.11£/MWh +6.45 · +3.7%
30d 151.59 – 201.18 close 11 Nov 2026
PWR UK Electricity · Baseload
Season-Ahead
123.85£/MWh +3.81 · +3.2%
30d 107.18 – 137.72 close 11 Nov 2026
PWR UK Electricity · Baseload
SUM 27
123.85£/MWh +3.81 · +3.2%
30d 107.18 – 137.72 close 11 Nov 2026
PWR UK Electricity · Baseload
WIN 27
122.23£/MWh +3.70 · +3.1%
30d 107.65 – 136.32 close 11 Nov 2026
PWR UK Electricity · Baseload
SUM 28
75.60£/MWh +1.01 · +1.4%
30d 72.70 – 87.27 close 11 Nov 2026
PWR UK Electricity · Baseload
WIN 28
82.49£/MWh +1.02 · +1.3%
30d 81.35 – 92.70 close 11 Nov 2026
02 · Momentum
What moved, and how fast
Percentage moves over one, five and thirty trading days, with where each contract's latest close sits inside its thirty-day range.
| Contract | 1 day | 5 days | 30 days | 30-day range |
|---|---|---|---|---|
| UK Natural Gas · NBP | ||||
| Day-Aheadp/therm | −0.8% | −1.4% | +19.2% | |
| Month-Aheadp/therm | +1.4% | −0.8% | +17.0% | |
| Quarter-Aheadp/therm | +1.9% | −0.6% | +15.2% | |
| Season-Aheadp/therm | +3.1% | +2.5% | +18.2% | |
| SUM 27p/therm | +3.1% | +2.5% | +18.2% | |
| WIN 27p/therm | +2.8% | +1.0% | +16.6% | |
| SUM 28p/therm | +1.3% | −1.5% | +5.7% | |
| WIN 28p/therm | +0.2% | −2.9% | +1.6% | |
| UK Electricity · Baseload | ||||
| Day-Ahead£/MWh | −10.3% | +0.1% | +75.0% | |
| Month-Ahead£/MWh | +4.7% | +3.5% | +20.3% | |
| Quarter-Ahead£/MWh | +3.7% | +2.8% | +19.1% | |
| Season-Ahead£/MWh | +3.2% | +2.0% | +15.6% | |
| SUM 27£/MWh | +3.2% | +2.0% | +15.6% | |
| WIN 27£/MWh | +3.1% | +1.7% | +13.5% | |
| SUM 28£/MWh | +1.4% | −2.3% | +4.0% | |
| WIN 28£/MWh | +1.3% | −1.7% | +1.4% | |
03 · The gas curve
NBP monthlies, out to 2030
Every monthly gas contract still ahead of delivery, priced at the latest close against one month before. The shaded bands are winter delivery.
Latest close · 11 Nov 2026
One month ago · 11 Oct 2026
p/therm
View as table
| Contract | Latest close (p/therm) | One month ago |
|---|---|---|
| DEC 26 | 215.94 | 205.23 |
| JAN 27 | 217.32 | 206.54 |
| FEB 27 | 215.58 | 205.18 |
| MAR 27 | 202.80 | 195.38 |
| APR 27 | 173.71 | 166.60 |
| MAY 27 | 163.10 | 155.22 |
| JUN 27 | 155.95 | 147.99 |
| JUL 27 | 153.15 | 145.04 |
| AUG 27 | 152.22 | 145.07 |
| SEP 27 | 152.42 | 143.81 |
| OCT 27 | 151.29 | 142.23 |
| NOV 27 | 152.91 | 144.85 |
| DEC 27 | 154.35 | 147.58 |
| JAN 28 | 152.77 | 146.87 |
| FEB 28 | 148.71 | 144.29 |
| MAR 28 | 138.54 | 133.64 |
| APR 28 | 99.09 | 101.10 |
| MAY 28 | 91.13 | 92.24 |
| JUN 28 | 88.86 | 89.57 |
| JUL 28 | 84.89 | 86.47 |
| AUG 28 | 85.02 | 86.40 |
| SEP 28 | 86.17 | 87.46 |
| OCT 28 | 89.59 | 92.72 |
| NOV 28 | 92.69 | 95.66 |
| DEC 28 | 94.90 | 97.95 |
| JAN 29 | 95.95 | 100.33 |
| FEB 29 | 94.89 | 98.86 |
| MAR 29 | 91.11 | 95.39 |
| APR 29 | 72.72 | 78.42 |
| MAY 29 | 68.57 | 74.06 |
| JUN 29 | 67.77 | 72.33 |
| JUL 29 | 66.27 | 71.51 |
| AUG 29 | 66.91 | 72.18 |
| SEP 29 | 68.21 | 73.51 |
| OCT 29 | 73.42 | 77.74 |
| NOV 29 | 76.30 | 80.62 |
| DEC 29 | 78.43 | 82.75 |
| JAN 30 | 79.52 | 84.04 |
| FEB 30 | 79.88 | 84.39 |
| MAR 30 | 77.38 | 82.58 |
| APR 30 | 72.38 | 73.36 |
| MAY 30 | 69.89 | 70.77 |
| JUN 30 | 67.89 | 68.39 |
| JUL 30 | 65.43 | 66.61 |
| AUG 30 | 65.04 | 66.21 |
| SEP 30 | 66.65 | 67.65 |
| OCT 30 | 73.26 | 74.16 |
| NOV 30 | 76.55 | 76.95 |
| DEC 30 | 78.49 | 78.91 |
04 · Seasonal context
The curve, at five sittings
Each seasonal forward priced at the latest close and four earlier sittings — one week, one, three and six months back. Each sitting keeps its own colour, red being the latest close. A tight fan is a quiet market; a wide one is a re-pricing.
Last close · 11 Nov 26
1 week ago · 4 Nov 26
1 month ago · 11 Oct 26
3 months ago · 11 Aug 26
6 months ago · 11 May 26
View as table
| Season | Last close (p/therm) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| SUM 27 | 158.39 | 154.54 | 150.58 | 91.87 | 86.19 |
| WIN 27 | 149.76 | 148.33 | 143.22 | 91.28 | 87.06 |
| SUM 28 | 89.16 | 90.47 | 90.50 | 67.49 | 64.92 |
| WIN 28 | 93.16 | 95.98 | 96.79 | 74.89 | 71.49 |
| SUM 29 | 68.39 | 70.81 | 73.65 | 60.94 | 58.47 |
| WIN 29 | 77.45 | 80.28 | 81.98 | 70.75 | 67.22 |
Last close · 11 Nov 26
1 week ago · 4 Nov 26
1 month ago · 11 Oct 26
3 months ago · 11 Aug 26
6 months ago · 11 May 26
View as table
| Season | Last close (£/MWh) | 1 week ago | 1 month ago | 3 months ago | 6 months ago |
|---|---|---|---|---|---|
| SUM 27 | 123.85 | 121.38 | 118.26 | 81.12 | 76.10 |
| WIN 27 | 122.23 | 120.25 | 118.17 | 83.67 | 79.62 |
| SUM 28 | 75.60 | 77.35 | 77.30 | 63.81 | 61.03 |
| WIN 28 | 82.49 | 83.90 | 83.61 | 71.58 | 70.05 |
| SUM 29 | 68.00 | 69.67 | 71.29 | 62.21 | 61.89 |
| WIN 29 | 74.24 | 76.22 | 78.30 | 71.27 | 69.17 |
05 · Curve shift
Six months, season by season
Each seasonal forward's close six months ago against the latest — the re-pricing of forward winters and summers.
View as table
| Season | Six months ago | Latest close | Change |
|---|---|---|---|
| Gas SUM 27 | 86.19 p/therm | 158.39 p/therm | +83.8% |
| Gas WIN 27 | 87.06 p/therm | 149.76 p/therm | +72.0% |
| Gas SUM 28 | 64.92 p/therm | 89.16 p/therm | +37.3% |
| Gas WIN 28 | 71.49 p/therm | 93.16 p/therm | +30.3% |
| Gas SUM 29 | 58.47 p/therm | 68.39 p/therm | +17.0% |
| Gas WIN 29 | 67.22 p/therm | 77.45 p/therm | +15.2% |
| Power SUM 27 | 76.10 £/MWh | 123.85 £/MWh | +62.7% |
| Power WIN 27 | 79.62 £/MWh | 122.23 £/MWh | +53.5% |
| Power SUM 28 | 61.03 £/MWh | 75.60 £/MWh | +23.9% |
| Power WIN 28 | 70.05 £/MWh | 82.49 £/MWh | +17.8% |
| Power SUM 29 | 61.89 £/MWh | 68.00 £/MWh | +9.9% |
| Power WIN 29 | 69.17 £/MWh | 74.24 £/MWh | +7.3% |
06 · Daily evolution
Eighteen months, drawn daily
Every active seasonal forward's daily close — drag the zoom presets to interrogate the move.
07 · Gas vs power
Two years, one index
Month-ahead gas and baseload power, weekly closes indexed to 100 at 15 Nov 2024 — two units, one honest axis.
Gas · NBP month-ahead
Power · UKB month-ahead
indexed, 15 Nov 2024 = 100
View as table
| Week ending | Gas index | Gas (p/therm) | Power index | Power (£/MWh) |
|---|---|---|---|---|
| 15 Nov 2024 | 100.0 | 116.40 | 100.0 | 95.85 |
| 22 Nov 2024 | 100.3 | 116.69 | 99.5 | 95.33 |
| 29 Nov 2024 | 100.6 | 117.09 | 100.8 | 96.60 |
| 6 Dec 2024 | 99.1 | 115.35 | 102.7 | 98.48 |
| 13 Dec 2024 | 88.3 | 102.79 | 93.2 | 89.38 |
| 20 Dec 2024 | 93.5 | 108.84 | 97.6 | 93.51 |
| 27 Dec 2024 | 102.3 | 119.06 | 107.6 | 103.18 |
| 3 Jan 2025 | 106.5 | 123.97 | 107.1 | 102.67 |
| 10 Jan 2025 | 98.0 | 114.07 | 97.1 | 93.10 |
| 17 Jan 2025 | 102.3 | 119.04 | 100.5 | 96.35 |
| 24 Jan 2025 | 107.0 | 124.51 | 110.8 | 106.18 |
| 31 Jan 2025 | 114.5 | 133.23 | 120.2 | 115.25 |
| 7 Feb 2025 | 116.4 | 135.48 | 116.3 | 111.47 |
| 14 Feb 2025 | 105.2 | 122.47 | 105.5 | 101.07 |
| 21 Feb 2025 | 94.9 | 110.51 | 96.0 | 91.99 |
| 28 Feb 2025 | 91.1 | 105.98 | 93.8 | 89.94 |
| 7 Mar 2025 | 83.0 | 96.66 | 85.1 | 81.59 |
| 14 Mar 2025 | 89.2 | 103.85 | 90.8 | 87.05 |
| 21 Mar 2025 | 88.6 | 103.13 | 93.0 | 89.10 |
| 28 Mar 2025 | 84.3 | 98.08 | 89.3 | 85.62 |
| 4 Apr 2025 | 76.0 | 88.49 | 76.2 | 73.05 |
| 11 Apr 2025 | 71.1 | 82.76 | 74.6 | 71.55 |
| 17 Apr 2025 | 74.8 | 87.01 | 78.6 | 75.32 |
| 25 Apr 2025 | 66.8 | 77.77 | 75.6 | 72.43 |
| 2 May 2025 | 68.4 | 79.63 | 77.0 | 73.80 |
| 9 May 2025 | 70.9 | 82.48 | 78.8 | 75.50 |
| 16 May 2025 | 71.7 | 83.42 | 78.7 | 75.42 |
| 23 May 2025 | 75.0 | 87.33 | 81.1 | 77.78 |
| 30 May 2025 | 69.1 | 80.38 | 74.3 | 71.22 |
| 6 Jun 2025 | 72.9 | 84.90 | 79.9 | 76.55 |
| 13 Jun 2025 | 76.7 | 89.27 | 85.2 | 81.65 |
| 20 Jun 2025 | 82.2 | 95.66 | 85.4 | 81.88 |
| 27 Jun 2025 | 65.3 | 76.05 | 74.5 | 71.40 |
| 4 Jul 2025 | 68.0 | 79.12 | 75.5 | 72.38 |
| 11 Jul 2025 | 73.4 | 85.44 | 79.2 | 75.95 |
| 18 Jul 2025 | 68.7 | 79.92 | 75.5 | 72.40 |
| 25 Jul 2025 | 67.6 | 78.65 | 76.2 | 73.05 |
| 1 Aug 2025 | 71.6 | 83.33 | 80.5 | 77.20 |
| 8 Aug 2025 | 68.0 | 79.09 | 80.6 | 77.24 |
| 15 Aug 2025 | 65.5 | 76.23 | 76.7 | 73.52 |
| 22 Aug 2025 | 71.4 | 83.14 | 81.5 | 78.08 |
| 29 Aug 2025 | 67.0 | 77.95 | 77.4 | 74.18 |
| 5 Sep 2025 | 69.4 | 80.75 | 77.7 | 74.43 |
| 12 Sep 2025 | 71.0 | 82.60 | 78.0 | 74.75 |
| 19 Sep 2025 | 70.6 | 82.18 | 79.2 | 75.95 |
| 26 Sep 2025 | 71.6 | 83.32 | 77.6 | 74.38 |
| 3 Oct 2025 | 70.3 | 81.87 | 85.3 | 81.71 |
| 10 Oct 2025 | 71.3 | 83.03 | 86.5 | 82.92 |
| 17 Oct 2025 | 70.2 | 81.75 | 86.7 | 83.12 |
| 24 Oct 2025 | 70.3 | 81.82 | 82.6 | 79.21 |
| 31 Oct 2025 | 69.5 | 80.86 | 83.2 | 79.78 |
| 7 Nov 2025 | 70.4 | 81.90 | 84.3 | 80.79 |
| 14 Nov 2025 | 71.0 | 82.65 | 86.2 | 82.58 |
| 21 Nov 2025 | 68.0 | 79.10 | 85.2 | 81.68 |
| 28 Nov 2025 | 64.6 | 75.24 | 85.8 | 82.24 |
| 5 Dec 2025 | 60.6 | 70.55 | 82.2 | 78.83 |
| 12 Dec 2025 | 62.0 | 72.22 | 85.5 | 81.93 |
| 19 Dec 2025 | 63.5 | 73.91 | 89.3 | 85.58 |
| 26 Dec 2025 | 62.9 | 73.25 | 89.0 | 85.32 |
| 2 Jan 2026 | 62.8 | 73.11 | 87.4 | 83.75 |
| 9 Jan 2026 | 60.9 | 70.84 | 86.4 | 82.83 |
| 16 Jan 2026 | 78.9 | 91.80 | 109.6 | 105.02 |
| 23 Jan 2026 | 84.4 | 98.26 | 111.2 | 106.56 |
| 30 Jan 2026 | 81.8 | 95.20 | 104.5 | 100.17 |
| 6 Feb 2026 | 70.6 | 82.18 | 86.6 | 83.00 |
| 13 Feb 2026 | 64.5 | 75.10 | 77.3 | 74.08 |
| 20 Feb 2026 | 66.0 | 76.82 | 77.1 | 73.90 |
| 27 Feb 2026 | 67.2 | 78.23 | 76.5 | 73.31 |
| 6 Mar 2026 | 115.3 | 134.17 | 106.0 | 101.63 |
| 13 Mar 2026 | 109.3 | 127.19 | 101.0 | 96.79 |
| 20 Mar 2026 | 128.8 | 149.97 | 111.0 | 106.42 |
| 27 Mar 2026 | 117.2 | 136.39 | 103.5 | 99.20 |
| 2 Apr 2026 | 108.2 | 125.95 | 100.1 | 95.90 |
| 10 Apr 2026 | 93.8 | 109.21 | 90.8 | 87.01 |
| 17 Apr 2026 | 82.6 | 96.12 | 86.0 | 82.39 |
| 24 Apr 2026 | 95.6 | 111.23 | 93.9 | 90.01 |
| 1 May 2026 | 95.4 | 111.06 | 97.0 | 92.98 |
| 8 May 2026 | 92.1 | 107.17 | 96.3 | 92.30 |
| 15 May 2026 | 105.5 | 122.82 | 107.1 | 102.62 |
| 22 May 2026 | 100.7 | 117.24 | 104.9 | 100.58 |
| 29 May 2026 | 94.7 | 110.23 | 104.0 | 99.66 |
| 5 Jun 2026 | 100.7 | 117.21 | 107.3 | 102.89 |
| 12 Jun 2026 | 96.2 | 111.95 | 103.0 | 98.70 |
| 19 Jun 2026 | 87.0 | 101.24 | 98.8 | 94.71 |
| 26 Jun 2026 | 83.9 | 97.67 | 94.8 | 90.89 |
| 3 Jul 2026 | 92.9 | 108.14 | 101.0 | 96.76 |
| 10 Jul 2026 | 100.3 | 116.74 | 106.6 | 102.20 |
| 17 Jul 2026 | 119.8 | 139.42 | 120.4 | 115.38 |
| 24 Jul 2026 | 130.6 | 152.04 | 132.7 | 127.18 |
| 31 Jul 2026 | 121.6 | 141.54 | 126.0 | 120.78 |
| 7 Aug 2026 | 116.9 | 136.12 | 120.8 | 115.74 |
| 14 Aug 2026 | 128.4 | 149.40 | 129.0 | 123.62 |
| 21 Aug 2026 | 140.4 | 163.46 | 134.2 | 128.68 |
| 28 Aug 2026 | 139.5 | 162.38 | 136.0 | 130.34 |
| 4 Sep 2026 | 153.7 | 178.90 | 145.9 | 139.89 |
| 11 Sep 2026 | 171.1 | 199.17 | 159.9 | 153.22 |
| 18 Sep 2026 | 169.1 | 196.86 | 160.0 | 153.34 |
| 25 Sep 2026 | 153.3 | 178.49 | 148.2 | 142.05 |
| 2 Oct 2026 | 162.4 | 189.01 | 160.1 | 153.49 |
| 9 Oct 2026 | 174.4 | 202.98 | 169.6 | 162.52 |
| 16 Oct 2026 | 186.4 | 216.98 | 176.8 | 169.45 |
| 23 Oct 2026 | 196.1 | 228.31 | 188.2 | 180.37 |
| 30 Oct 2026 | 220.0 | 256.06 | 209.5 | 200.76 |
| 6 Nov 2026 | 183.2 | 213.22 | 181.6 | 174.02 |
| 11 Nov 2026 | 185.4 | 215.82 | 190.3 | 182.38 |
Levels from ICD chart data as of 11 Nov 2026. Closes are indicative; live rates and the full chart suite are available through the Tribar client portal.