Friday 18th September 2026

Power and gas prices settle lower as traders continue to take profits

Power and gas prices closed slightly lower yesterday despite the extension of the unplanned outage at Norway’s Troll gas field, which is now expected to return on 25 September rather than 18 September, as speculative traders continued to take profits amid the recent relative calm between the US and Iran. Meanwhile, the Netherlands lowered its winter storage target to 64%, easing some near term demand pressure and partly offsetting SEFE’s recent announcement that it plans to increase storage levels. Reports that Gulf leaders are set to meet President Trump next week also raised hopes of potential diplomatic progress.

Oil prices fell for a second consecutive session on Thursday as expectations of an imminent partial restoration of Saudi Arabia’s East–West pipeline helped to ease near term supply concerns. European equities closed higher, supported by lower oil prices and falling bond yields following the Federal Reserve’s interest rate increase. The Bank of England left interest rates unchanged but indicated that an increase could be considered later in the year should the conflict between the US and Iran continue.

NBP (p/therm)

UK Base (£/MWh)

Close

Day on Day

Close

Day on Day

Oct-26

191.24

-2.31

147.68

-2.11

Nov-26

194.34

-2.98

157.56

-2.93

Dec-26

195.89

-3.01

156.62

-2.3

Q4-26

193.82

-2.77

153.83

-2.52

Q1-27

192.74

-2.72

156.38

-4.66

Q2-27

137.34

-1.53

107.53

-1.6

Win-26

193.28

-2.75

155.14

-3.38

Sum-27

131.13

-1.08

103.49

-1.88

Win-27

126.01

-0.89

104.50

-1.25

Sum-28

81.10

0.41

70.06

-0.5

Win-28

88.53

0.53

79.73

0.02