Page 2 - 2025 HEG Daily Energy Market Report

Friday, December 19, 2025

GAS (p/therm)

WED THU VAR D-1 VAR W-1 AVG. MAX MIN
17/12 18/12 FROM THE BEGINNING OF THIS YEAR
NBP SPOT 70.10 70.90 0.8 2.15 89.33 145.30 63.10
NBP JAN26 72.43 73.10 0.67 2.64 96.64 134.39 69.70
NBP FEB26 70.53 71.60 1.07 2.43 96.20 132.94 68.62
NBP MAR26 67.39 67.77 0.38 1.35 92.49 128.75 66.01
NBP APR26 64.96 65.33 0.37 1.15 85.44 112.71 63.91
NBP MAY26 64.04 64.43 0.39 1.09 81.60 106.22 63.00
NBP JUN26 63.14 63.53 0.39 0.87 79.93 104.44 62.10
NBP JUL26 63.04 63.43 0.39 0.93 79.78 104.01 61.96
NBP AUG26 63.59 63.99 0.4 1.15 80.58 104.42 62.49
NBP SEP26 64.47 64.88 0.41 0.8 81.57 104.79 63.61
NBP OCT26 65.02 65.29 0.27 0.86 83.27 105.09 64.10
NBP NOV26 69.02 69.39 0.37 0.51 86.90 105.19 67.94
NBP DEC26 70.87 71.34 0.47 0.66 88.74 105.80 69.84
NBP Q1 26 70.10 70.80 0.7 2.13 95.07 132.00 68.09
NBP Q2 26 64.05 64.43 0.38 1.04 82.32 107.64 63.00
NBP Q3 26 63.69 64.09 0.4 0.96 80.63 104.40 62.68
NBP Q4 26 68.30 68.67 0.37 0.68 86.30 105.34 67.31
NBP SUM2026 63.87 64.26 0.39 1 81.47 106.00 62.84
NBP WIN2026 69.67 70.10 0.43 0.67 87.31 104.61 68.69
NBP SUM2027 59.45 59.70 0.25 0.07 71.81 81.89 58.60
NBP WIN2027 68.18 68.40 0.22 0.1 79.14 86.86 67.59
NBP SUM2028 56.90 57.13 0.23 0.44 65.64 71.72 56.22

Gas prices in the UK rose on Thursday amid expectations of a cold Christmas
and EU storage levels trailing the five-year average. Hence, the British spot gas
price advanced by over 1% to 70.90 p/therm, while the Summer 2026 delivery
contract increased by 0.6%, settling at 64.26 p/therm. Nonetheless, price
increases were limited as a softer LNG market and weak Asian demand eased
European supply concerns.