FAQs
What is UK NBP? The UK NBP gas market is Europe's longest-established spot-traded natural gas market, in operation since the late 1990s. The price of UK NBP is widely used as an indicator for Europe's wholesale gas market alongside the more recent, but now more liquid, Dutch TTF.
What are UK natural gas futures? ›
UK Natural Gas Futures is a national benchmark price. Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the National Balancing Point (NBP) Virtual Trading Point, operated by National Grid, the transmissions system operator in the UK.
What is the NBP gas price forecast? ›
UK NBP Natural Gas Futures
Contract | Last | Time(GMT) |
---|
Sep24 | 85.840 | 6/28/2024 3:45 PM |
Oct24 | 88.620 | 6/28/2024 3:44 PM |
Nov24 | 99.520 | 6/28/2024 3:30 PM |
Q4 24 | 97.400 | 6/28/2024 3:53 PM |
37 more rows
What is the current UK natural gas price? ›
UK gas price: 64p/therm.
What does NBP stand for in gas? ›
NBP – National balancing point. NDM - Non-daily metered. NGP - National Grid Property. NGSE - Network gas supply emergencies.
What does NBP stand for? ›
Noninvasive blood pressure principles. Page 1. Introduction. Oscillometry has become the preferred method for automated noninvasive blood pressure (NBP) monitoring in most clinical settings. It is increasingly used as an alternative to the invasive blood pressure measurement.
Why is UK natural gas so expensive? ›
Low gas reserves - The UK has some of the lowest gas reserves in Europe, which means there's almost no way of stockpiling gas to use it when needed. Capacity is equivalent to roughly 2% of the UK's annual demand, compared with 25% for other European countries and as much as 37% in Europe's four largest storage holders.
What is the NBP gas hub? ›
The National Balancing Point, commonly referred to as the NBP, is a virtual trading location for the sale and purchase and exchange of natural gas in the United Kingdom. It is the pricing and delivery point for the ICE Futures Europe (IntercontinentalExchange) natural gas futures contract.
How do natural gas futures work? ›
With a futures contract, traders agree to the delivery of a certain amount of natural gas at a set date in the future for an agreed-upon price. However, this does mean that the trader may have to eventually take delivery of the asset.
What is the natural gas price forecast for 2024? ›
“To meet our 2024 Henry Hub annual price average of $2.8 per MMBtu, prices are set to average at $3.4 per MMBtu over the remainder of the year,” they said. “We continue to expect above-average temperatures for the vast majority of the U.S. in Q3 2024, which will support higher demand for natural gas over that period.
Recent Contracts
| Last | High |
---|
Natural Gas Jan 2025 | $3.738 | $3.757 |
Natural Gas Feb 2025 | $3.581 | $3.598 |
Natural Gas Mar 2025 | $3.182 | $3.195 |
Natural Gas Apr 2025 | $2.974 | $2.987 |
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Will natural gas prices rise or fall? ›
Although we forecast an increase in natural gas prices for the summer months as storage inventories rise by less than the five-year average, we expect inventories will remain above the five-year average and keep prices below $3.00/MMBtu on average in 3Q24, similar to the $2.59/MMBtu average in 3Q23.
Are UK gas prices going up? ›
From 1 January 2024 the price for energy a typical household who use gas and electricity and pay by Direct Debit will go up by £94. This will take the price cap from £1,834 to £1,928 per year.
What is the forecast for gas prices in the UK? ›
The average price of gas under the direct debit cap will fall to 5.5 p/kWh in July 2024, the average price of electricity will fall to 22.4 p/kWh. Average standing charges under this cap will remain around current levels.
How long will UK natural gas last? ›
Gas Reserves in the United Kingdom
The United Kingdom has proven reserves equivalent to 2.6 times its annual consumption. This means it has about 3 years of gas left (at current consumption levels and excluding unproven reserves).
How does the National Balancing Point work? ›
A notional delivery point on the national transmission system (NTS). All gas entering the NTS is assumed to flow to the NBP and gas leaving the NTS is assumed to come from the NBP. Gas is traded at the NBP under the NBP terms.
Who owns National Gas UK? ›
How we are owned. On the 11 March 2024, Macquarie Asset Management and British Columbia Investment Management Corporation increased their equity interest in National Gas Transmission to 80%, with National Grid maintaining a 20% interest in the business.
Why are UK wholesale gas prices so high? ›
Wholesale energy prices are based on the global gas and electricity market, meaning they can fluctuate very quickly. Demand also plays a significant role in prices, so gas and electricity prices are typically higher in winter.