5th March 2026 Energy Price Alert – UK Gas & UK Electricity
The instability in the wholesale gas and electricity market remains, with prices seeing ongoing volatility due to the geo-political conflicts involving Iran and the Middle East.
TPG’s position remains that no movement on contracts would be advisable for now, with indicative pricing tables not currently available due to the unpredictability we are seeing at the moment.
Gas: Gas prices closed down, day on day, at the culmination of trading yesterday. Volatility driven by the rising geopolitical crisis in the Middle East remains, bringing large intraday fluctuations. Markets opened this morning above last night’s closing price. The below graph does not reflect the live market.
Power: Power prices tracked NBP movements yesterday. Further out on the curve, falling carbon prices also impacted some contracts. This morning, trading has seen an increase on last night’s close. The below graph does not reflect the live market.
Oil: Oil prices gained yesterday with markets proving highly volatile. The ongoing conflict between the US and Iran, as well as adding risk premiums, is bringing supply concerns.
Carbon (EUAs): The ICE Dec-26 closed at €70.76/t yesterday. The contract opened this morning at €70.40/t.
Carbon (UKAs): The ICE Dec-26 closed at £43.84/t yesterday. Opening this morning at £43.85/t.
