Page 113 - Demo

Wednesday, November 5, 2025GAS (p/therm) MONTUEVAR D-1 VAR W-1AVG.MAXMIN 3/114/11FROM THE BEGINNING OF THIS YEARNBP SPOT75.00 78.313.310.6591.55145.3067.83NBP DEC2582.26 85.032.772.6598.90135.0080.87NBP JAN2683.86 86.312.452.4599.50134.3982.53NBP FEB2683.92 86.232.312.2999.07132.9482.66NBP MAR2680.66 82.912.252.3495.27128.7579.51NBP APR2677.38 79.171.791.9187.60112.7176.49NBP MAY2675.10 76.911.811.7983.42106.2274.08NBP JUN2674.58 76.231.651.8881.61104.4471.89NBP JUL2674.38 75.911.531.6581.47104.0172.46NBP AUG2675.54 77.031.491.782.28104.4273.26NBP SEP2676.54 78.041.51.7383.24104.7973.41NBP OCT2678.22 79.431.211.5785.08105.0976.00NBP NOV2683.10 83.960.861.1588.57105.1980.24NBP Q1 2682.78 85.112.332.3697.91132.0081.53NBP Q2 2675.68 77.431.751.8684.20107.6474.71NBP Q3 2675.48 76.981.51.6982.32104.4073.04NBP Q4 2682.00 83.021.021.3388.01105.3479.86NBP SUM202675.58 77.201.621.7783.26106.0074.01NBP WIN202683.25 84.261.011.2788.97104.6180.91NBP SUM202769.86 70.670.810.7572.9181.8967.41NBP WIN202778.48 79.290.810.9580.0386.8675.08NBP SUM202864.64 65.120.480.3966.4271.7262.79The NBP spot price climbed by 4.4% to 78.31 p/therm on Tuesday, fuelled bycolder weather forecasts and a significant decline in wind generation. On theforward curve, the Summer 2026 delivery contract soared by 2.2% to 77.20p/therm, supported by tightening regional supply, as Ukraine’s power imports hita yearly peak in October 2025 due to Russian attacks on energy infrastructure,boosting reliance on EU gas supplies.