Monday 21st September 2026

Power and gas prices close higher but record weekly losses

Power and gas prices closed higher on Friday, recovering some of the losses from earlier in the week as traders adopted a cautious stance ahead of the weekend following comments from President Trump that he was approaching a “big decision” on whether to resume attacks on Iran. Sentiment was further supported by reports of two new tanker attacks in the Strait of Hormuz. Meanwhile, heat related restrictions further reduced French nuclear capacity as EDF extended several maintenance outages towards the beginning of October. It was also confirmed that Iranian delegates would be permitted to attend the upcoming UN meeting in the US.

Oil prices settled at their lowest level of the week on Friday as optimism grew that an anticipated meeting between President Trump and Gulf leaders could pave the way for progress on reopening the Strait of Hormuz and restoring regional oil flows. UK equities closed lower, breaking a two-day run of gains, with weakness concentrated in the banking, energy and mining sectors.

NBP (p/therm)

UK Base (£/MWh)

Close

Day on Day

Close

Day on Day

Oct-26

197.58

6.34

153.94

6.26

Nov-26

200.60

6.26

161.76

4.2

Dec-26

201.90

6.01

160.05

3.44

Q4-26

200.02

6.2

158.51

4.68

Q1-27

197.60

4.86

159.45

3.07

Q2-27

140.84

3.5

110.56

3.03

Win-26

198.82

5.54

158.98

3.83

Sum-27

134.50

3.36

105.73

2.23

Win-27

129.22

3.22

107.10

2.6

Sum-28

83.05

1.95

70.90

0.84

Win-28

89.67

1.15

80.76

1.03