Page 10 - 2025 HEG Daily Energy Market Report

Wednesday, December 17, 2025

GAS (p/therm)

MON TUE VAR D-1 VAR W-1 AVG. MAX MIN
15/12 16/12 FROM THE BEGINNING OF THIS YEAR
NBP SPOT 71.00 69.10 -1.9 -0.4 89.44 145.30 63.10
NBP JAN26 72.92 70.72 -2.2 -1.57 96.83 134.39 69.70
NBP FEB26 70.77 68.88 -1.89 -2.25 96.40 132.94 68.62
NBP MAR26 68.02 66.05 -1.97 -2.15 92.70 128.75 66.01
NBP APR26 65.69 63.91 -1.78 -1.89 85.61 112.71 63.91
NBP MAY26 64.59 63.00 -1.59 -1.92 81.74 106.22 63.00
NBP JUN26 63.69 62.10 -1.59 -2.13 80.06 104.44 62.10
NBP JUL26 63.59 61.96 -1.63 -2.05 79.91 104.01 61.96
NBP AUG26 64.12 62.49 -1.63 -1.87 80.72 104.42 62.49
NBP SEP26 65.24 63.61 -1.63 -1.96 81.71 104.79 63.61
NBP OCT26 65.64 64.16 -1.48 -1.93 83.42 105.09 64.10
NBP NOV26 69.84 67.94 -1.9 -2.45 87.05 105.19 67.94
NBP DEC26 71.64 69.84 -1.8 -2.36 88.88 105.80 69.84
NBP Q1 26 70.56 68.54 -2.02 -1.98 95.27 132.00 68.09
NBP Q2 26 64.66 63.00 -1.66 -1.98 82.46 107.64 63.00
NBP Q3 26 64.31 62.68 -1.63 -1.96 80.77 104.40 62.68
NBP Q4 26 69.03 67.31 -1.72 -2.24 86.44 105.34 67.31
NBP SUM2026 64.48 62.84 -1.64 -1.97 81.61 106.00 62.84
NBP WIN2026 70.42 68.69 -1.73 -2.22 87.45 104.61 68.69
NBP SUM2027 59.80 58.60 -1.2 -2 71.91 81.89 58.60
NBP WIN2027 68.78 67.59 -1.19 -2.24 79.22 86.86 67.59
NBP SUM2028 56.69 56.22 -0.47 -1.41 65.71 71.72 56.22

Despite an unplanned outage at the Aasgard field, the British spot gas price
dipped by 2.7% to 69.10 p/therm, weighed by forecasts for milder-than-average
temperatures across central and western Europe through the holiday period.
On the forward curve, the Summer 2026 delivery contract dropped by 2.5%,
settling at 62.84 p/therm, driven by continued confidence in medium-term
supply, amid ample LNG imports and strong Norwegian production.