Page 30 - 2025 HEG Daily Energy Market Report

Thursday, March 5, 2026

GAS (p/therm)

TUE WED VAR D-1 VAR W-1 AVG. MAX MIN
3/3 4/3 FROM THE BEGINNING OF THIS YEAR
NBP SPOT 137.00 125.50 -11.5 52.15 87.50 137.00 71.25
NBP APR26 140.99 126.88 -14.11 51.94 77.97 140.99 64.52
NBP MAY26 135.32 120.27 -15.05 45.63 75.78 135.32 63.61
NBP JUN26 127.96 112.31 -15.65 38.57 73.89 127.96 62.69
NBP JUL26 121.11 105.52 -15.59 32.8 72.62 121.11 62.36
NBP AUG26 119.13 103.06 -16.07 30.19 72.64 119.13 62.76
NBP SEP26 117.12 102.81 -14.31 28.65 73.67 117.12 64.03
NBP OCT26 115.32 100.01 -15.31 25.9 73.02 115.32 63.64
NBP NOV26 115.82 101.10 -14.72 22.97 76.53 115.82 67.58
NBP DEC26 115.42 102.01 -13.41 21.65 78.53 115.42 69.62
NBP JAN27 110.77 100.21 -10.56 18.43 80.14 110.77 71.31
NBP FEB27 104.55 96.95 -7.6 15.4 79.74 104.55 71.23
NBP MAR27 96.03 89.85 -6.18 12.97 75.16 96.03 67.33
NBP Q2 26 134.76 119.82 -14.94 45.38 75.88 134.76 63.67
NBP Q3 26 119.14 103.81 -15.33 30.57 72.97 119.14 63.04
NBP Q4 26 115.52 101.04 -14.48 23.51 76.02 115.52 66.94
NBP Q1 27 103.76 95.63 -8.13 15.61 78.30 103.76 69.91
NBP SUM2026 126.91 111.77 -15.14 37.93 74.42 126.91 63.35
NBP WIN2026 109.70 98.36 -11.34 19.6 77.15 109.70 68.41
NBP SUM2027 73.83 70.76 -3.07 8.32 61.35 73.83 57.74
NBP WIN2027 70.59 71.59 1 3.77 67.78 71.59 65.81
NBP SUM2028 53.73 53.92 0.19 0.64 54.42 58.00 52.62

Reports that Iranian leaders approached the US to discuss ending the Middle
East conflict weighed on British gas on Wednesday, sending the spot contract
down 8.4% to 125.50 p/therm. Along the curve, the Summer 2026 delivery
contract slumped by 12% to 111.77 p/therm, pressured further by Donald
Trump’s pledge to secure the Strait of Hormuz and France deploying the
Charles de Gaulle aircraft carrier to protect cargoes.