Page 70 - 2025 HEG Daily Energy Market Report
P. 70
Wednesday, November 26, 2025
GAS (p/therm)
MON TUE VAR D-1 VAR W-1 AVG. MAX MIN
24/11 25/11 FROM THE BEGINNING OF THIS YEAR
NBP SPOT 78.00 77.30 -0.7 -5.85 90.62 145.30 63.10
NBP DEC25 77.53 76.70 -0.83 -6.8 97.74 135.00 76.70
NBP JAN26 78.79 77.86 -0.93 -6.36 98.38 134.39 77.86
NBP FEB26 78.40 77.34 -1.06 -6.86 97.98 132.94 77.34
NBP MAR26 75.11 74.19 -0.92 -6.68 94.22 128.75 74.19
NBP APR26 72.36 71.21 -1.15 -5.76 86.83 112.71 71.21
NBP MAY26 70.36 69.64 -0.72 -5.12 82.79 106.22 69.64
NBP JUN26 69.39 68.67 -0.72 -5.1 81.05 104.44 68.67
NBP JUL26 69.29 68.50 -0.79 -5.18 80.90 104.01 68.50
NBP AUG26 70.21 69.41 -0.8 -5.22 81.72 104.42 69.41
NBP SEP26 71.50 70.70 -0.8 -5.23 82.69 104.79 70.70
NBP OCT26 72.17 71.37 -0.8 -5.12 84.48 105.09 71.37
NBP NOV26 76.75 75.95 -0.8 -5.33 88.06 105.19 75.95
NBP Q1 26 77.40 76.43 -0.97 -6.63 96.82 132.00 76.43
NBP Q2 26 70.70 69.84 -0.86 -5.32 83.55 107.64 69.84
NBP Q3 26 70.32 69.52 -0.8 -5.21 81.76 104.40 69.52
NBP Q4 26 75.91 75.11 -0.8 -5.26 87.47 105.34 75.11
NBP SUM2026 70.51 69.68 -0.83 -5.27 82.65 106.00 69.68
NBP WIN2026 77.25 76.45 -0.8 -5.4 88.45 104.61 76.45
NBP SUM2027 64.72 64.49 -0.23 -3.95 72.59 81.89 64.49
NBP WIN2027 73.57 72.73 -0.84 -4.45 79.81 86.86 72.73
NBP SUM2028 60.51 60.00 -0.51 -3.24 66.19 71.72 60.00
The British spot gas price fell by 1% to 77.30 p/therm on Tuesday, weighed by a
mild weather outlook, as Northwest European temperatures are expected to
remain 2–3°C above normal through late December, dampening heating
demand. On the forward curve, the Summer 2026 delivery contract dipped by
1.2%, settling at 69.68 p/therm, driven by optimism over potential RUS–UKR
peace progress.
