Page 130 - 2025 HEG Daily Energy Market Report
P. 130
Wednesday, January 28, 2026
GAS (p/therm)
MON TUE VAR D-1 VAR W-1 AVG. MAX MIN
26/1 27/1 FROM THE BEGINNING OF THIS YEAR
NBP SPOT 101.30 102.20 0.9 10.95 87.84 105.00 73.35
NBP FEB26 101.64 100.92 -0.72 6.97 86.83 104.67 70.84
NBP MAR26 91.79 91.92 0.13 7.69 78.99 93.09 66.34
NBP APR26 79.09 78.48 -0.61 2.74 71.84 80.54 64.52
NBP MAY26 73.33 72.36 -0.97 -1.31 69.45 76.87 63.61
NBP JUN26 70.63 69.42 -1.21 -2.69 68.01 75.44 62.69
NBP JUL26 68.95 68.11 -0.84 -2.85 67.31 74.16 62.36
NBP AUG26 69.39 68.47 -0.92 -2.7 67.53 74.26 62.76
NBP SEP26 70.65 69.75 -0.9 -2.57 68.64 75.37 64.03
NBP OCT26 69.45 68.70 -0.75 -2.46 68.03 73.77 63.64
NBP NOV26 73.04 72.30 -0.74 -2.23 71.41 76.95 67.58
NBP DEC26 75.24 74.74 -0.5 -1.62 73.40 78.84 69.62
NBP JAN27 77.20 76.39 -0.81 -1.86 75.16 80.30 71.31
NBP Q2 26 74.34 73.41 -0.93 -0.43 69.76 77.44 63.67
NBP Q3 26 69.65 68.77 -0.88 -2.7 67.82 74.59 63.04
NBP Q4 26 72.57 71.91 -0.66 -2.1 70.94 76.52 66.94
NBP Q1 27 75.77 74.92 -0.85 -2.2 73.79 79.22 69.91
NBP SUM2026 71.98 71.07 -0.91 -1.58 68.79 76.01 63.35
NBP WIN2026 74.15 73.40 -0.75 -2.15 72.35 77.85 68.41
NBP SUM2027 59.01 58.87 -0.14 -1.41 59.14 61.60 57.74
NBP WIN2027 66.33 66.25 -0.08 -1.24 67.27 70.12 65.81
NBP SUM2028 53.69 53.62 -0.07 -1.91 55.40 58.00 53.62
The British spot gas price increased by around 1% to 102.20 p/therm on
Tuesday, driven by colder weather forecasts in the UK and an extended five-
day outage at Norway’s Aasgard field. Further along the curve, the Summer
2026 delivery contract fell by 1.3% to 71.08 p/therm, as a projected 40 bcm
(7%) increase in global LNG supply in 2026 eased worries over replenishing
Europe’s depleted inventories.
