UK Gas fell to 78.60 GBp/thm on October 27, 2025, down 2.37% from the previous day. Over the past month, UK Gas's price has fallen 6.23%, and is down 26.29% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on October of 2025.

The National Balancing Point (NBP), the UK's natural gas benchmark, amounted to 81.02 British pence per therm on September 8, 2025, for contracts with delivery in October. Prices are generally higher in the winter months due to greater gas heating demand, especially in weeks of colder weather. The UK NBP, along with the Dutch TTF, serve as benchmarks for natural gas prices in Europe. Impact on consumer prices and household expenditure post-2022 Fluctuations in wholesale natural gas prices often have immediate impacts on UK consumers. In 2023, the consumer price index for gas in the UK rose to 195 index points, using 2015 as the base year. This increase has translated into higher household expenditure on gas, which reached approximately 18.71 billion British pounds in 2024. This figure represents a 40 percent increase from 2021, highlighting the growing financial burden on UK households. Consumption patterns and supply challenges The residential and commercial sectors remain the largest consumers of natural gas in the UK, using an estimated 42 billion cubic meters in 2024. This was followed by the power sector, which consumed about 13 billion cubic meters. The UK's reliance on gas imports has grown due to declining domestic production. This shift has led to an increased dependence on liquefied natural gas imports and pipeline inflows to meet demand.

Natural gas fell to 3.27 USD/MMBtu on October 27, 2025, down 1.00% from the previous day. Over the past month, Natural gas's price has risen 0.12%, and is up 14.24% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on October of 2025.

TTF Gas fell to 31.34 EUR/MWh on October 27, 2025, down 2.10% from the previous day. Over the past month, TTF Gas's price has fallen 3.77%, and is down 26.54% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on October of 2025.

Daily data showing SAP of gas, and rolling seven-day average, traded in Great Britain over the On-the-Day Commodity Market (OCM). These are official statistics in development. Source: National Gas Transmission.

Real-time natural gas (uk) price data updated every 5 minutes

The price of gas in the United Kingdom was *** British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to *** pence in the second quarter of 2025 before gradually falling to just under ** pence by the second quarter of 2027.
Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately ** percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of **** percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching **** percent, and food prices increasing by **** percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by *** percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

The United Kingdom Oil and Gas Market is Segmented by Sector (Upstream, Downstream, and Midstream), Location (Onshore and Offshore), and Service (Construction, Maintenance and Turn-Around, and Decommissioning). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

In 2024, natural gas prices for UK businesses with an annual consumption greater than 27,778 megawatt hours stood at 4.49 pence per kilowatt-hour, while for industries with lower annual consumption, prices were 5.64 pence per kilowatt-hour.

The Gas Utilities industry in Europe has been anything but steady recently. The Russia-Ukraine war has rocked the whole supply chain, with Russia tightening its gas supply, Europe hustling to cut its reliance on Russian gas and gas prices shooting up following the initial invasion. Amid unprecedented price increases and threats to the supply of gas into Europe, European governments have been forced to step in to support customers and protect energy supplies. All that aside, the industry remains threatened by a long-term decline in gas consumption and accelerating efforts to transition to renewable sources of energy. Revenue is forecast to climb at a compound annual rate of 1.4% over the five years through 2025, reaching €401.9 billion. This growth is almost solely attributable to a spike in revenue recorded during 2022, which followed a recovery from pandemic-induced lows during 2021, when prices and demand recovered as global economic activity rebounded. Russia’s invasion of Ukraine kicked off a period of significant disruption in energy markets, with a surge in gas prices leading to record revenue and profitability for gas manufacturers while causing substantial losses for gas suppliers. Wholesale prices have eased from record highs as European governments have reduced reliance on Russian gas. At the same time, a drop in demand for gas has also contributed to a revenue contraction since the height of the energy crisis. Revenue is set to decline by 3.9% in 2025. Revenue is forecast to increase at a compound annual rate of 1% to €422.2 billion over the five years through 2030. European markets are set to pursue a green revolution in the coming years, with investment in renewable energy sources gathering pace as European governments strive towards emissions reduction targets. Investment in green alternatives to natural gas is likely to lead to a fall in demand, with plans set out by the European Commission to at least triple solar thermal capacity by 2030, displacing the consumption of nine billion cubic metres of gas annually. Gas prices are set to continue to stabilise in the short term, before falling rapidly as renewable generation capacity rises.

The industry comprises eight Gas Distribution Networks (GDNs) across Great Britain, owned by four companies operating regional monopolies. Gas distributors are heavily regulated through price control frameworks set by Ofgem in the UK and NIAUR in Northern Ireland to protect consumers. Over the five years through 2025-26, gas distributors' revenue is forecast to decline at a compound annual rate of 0.8% to £5.2 billion. A downward trend in natural gas consumption has weighed on allowed revenue in recent years, though the impact of changing consumption trends has been mitigated by constant investment in GDNs to improve efficiency, which has been reflected by price controls. Soaring wholesale gas prices spurred an increase in shrinkage costs in 2021-22, leading to a cut to operating profitability. Price control adjustments allowed gas distributors to recover these cost increases, spurring a jump in revenue and profitability in 2022-23. These costs continued to be recovered in 2023-24, though declining consumption spurred a dip in capacity income, weighing on revenue allowances during the year. Revenue allowances continued to fall in 2024-25, reflecting a reduction in shrinking costs and adjustments made based on Supplier of Last Resort (SoLR) costs. Revenue is set to record renewed growth of 1.6% in 2025-26, supported by revenue true-ups to ensure that deferred revenue from previous periods is settled before moving on to the next price control period. Looking forward, the rising efficiency of GDNs, the rollout of smart meters and the decarbonisation of the energy system will influence gas distributors' revenue. Over the five years through 2030-31, revenue is forecast to climb at a compound annual rate of 1.2% to reach £5.6 billion. Major investment required to decarbonise GDNs, such as innovations to help displace natural gas with biomethane, will necessitate a boost in revenue allowances. Although specific details are yet to be released, Ofgem’s Sector Specific Methodology Decision (SSMD) indicates a potential increase in the allowed cost of equity for RIIO-GD3, boosting revenue and operating profit. Shrinkage costs are expected to decline as gas leak detection systems continue to improve. This is set to ease pressure on operating profit in the coming years.

The average gas price in Great Britain in July 2025 was 81.16 British pence per therm. This was 13 pence lower than the same month the year prior and follows a trend of increasing gas prices. Energy prices in the UK Energy prices in the UK have been exceptionally volatile throughout the 2020s. Multiple factors, such as a lack of gas storage availability and the large share of gas in heating, have exacerbated the supply issue in the UK that followed the Russia-Ukraine war. This has also led to many smaller suppliers announcing bankruptcy, while an upped price cap threatened the energy security of numerous households. The United Kingdom has some of the highest household electricity prices worldwide. How is gas used in the UK? According to a 2023 survey conducted by the UK Department for Energy Security and Net Zero, 58 percent of respondents used gas as a heating method during the winter months. On average, household expenditure on energy from gas in the UK stood at some 24.9 billion British pounds in 2023, double the amount spent just two years prior.

Residential consumers of natural gas in the United Kingdom paid an average of 8.8 U.S. dollar cents per kilowatt hour in December 2024. This was roughly one U.S. dollar cent lower than a year previous. The residential and commercial sectors are the largest consumers of natural gas in the UK.

The residential and commercial sector accounted for most of the natural gas consumption in the United Kingdom from 2018 to 2024. The residential and commercial sector's natural gas consumption increased from an estimated 41 billion cubic meters in 2023 to an estimated 42 billion cubic meters in 2024. Meanwhile, the power generation sector was ranked second, with a natural gas consumption of an estimated 13.11 billion cubic meters in 2024.

UK Oil And Gas Market size was valued at $587.96 Mn in 2024 and is expected to reach $683.51 Mn by 2032, growing at a CAGR of 1.9% 2026 to 2032.UK Oil And Gas Market: Definition/Overviewoil and gas are naturally occurring fossil fuels formed underground from ancient plant and animal remains over millions of years. They are extracted through drilling and used primarily for energy. Oil is refined into gasoline, diesel, and jet fuel, whereas gas—primarily natural gas—is used for heating, electricity generation, and as a chemical feedstock. They work together to support global industries, transportation, and the production of everyday items such as plastics and fertilizers.While oil and gas will continue to play an important role in global energy supply, their future applications are evolving. To reduce emissions, there is an increasing emphasis on cleaner technologies such as carbon capture and natural gas-based hydrogen production. Furthermore, oil and gas companies are investing in renewable energy and low-carbon solutions to meet global climate goals. As the world moves toward more sustainable energy systems, oil and gas will increasingly serve as a bridge, facilitating the transition while adapting to new energy demands.

IBISWorld analyst Yusuf Allinson examines the reason behind the current surge in oil and gas prices in the United Kingdom.

Japan and China have some of the highest spot prices for liquefied natural gas. In January 2024, customers in Japan and China paid approximately 10.05 U.S. dollars per million British thermal unit of LNG delivered. Destination markets in Europe and South America experienced slightly lower shipping costs. In the last few years, the global trade volume of LNG has increased notably, exceeding 500 billion cubic meters shipped.

LNG demand growth and largest destination markets

Increased gas demand and improved liquefaction technology has prompted growth in the gas market and the entry of new players. LNG prices were initially strongly influenced by crude oil, however, as the market grew it developed independent benchmarks. As one of the largest LNG importing countries, the price for LNG in Japan has become synonymous with the global benchmark.

Natural gas producers are facing turbulent times. Europe has traditionally relied on Russia and Norway as internal sources of natural gas, while countries such as the US, Qatar and Algeria are major sources of imports (although accounting for a much smaller share of overall consumption). Russia’s invasion of Ukraine has shaken up Europe’s natural gas supply structure, with European governments making efforts to reduce their dependence on Russian gas supplies. Revenue is forecast to swell at a compound annual rate of 16.2% to €113.9 billion over the five years through 2025. Revenue expanded in 2021 and 2022 as a sharp hike in natural gas prices and a post-pandemic rise in demand drove an increase in exploration and production activity. Russia’s invasion of Ukraine led to a spike in natural gas prices, with the impacts of reduced demand for gas and a decrease in Russian gas production outweighed by soaring wholesale prices and heightened demand for other natural gas reserves, spurring a jump in revenue. An ongoing reduction in demand for natural gas and easing prices caused revenue to dip in 2023 and 2024. In 2025, revenue is slated to bounce back by 53.3% owing to geopolitical uncertainties, including trade wars and fresh sanctions on Russia, buoying natural gas prices. Revenue is forecast to rise at a compound annual rate of 2.3% over the five years through 2030 to just under €128 billion. The gas market will continue to be shaped by geopolitical tensions into the medium term, with the International Energy Agency expecting natural gas prices to remain high until 2025 as countries continue to shift their supply structure. Following this, natural gas demand and prices are set to fall as Europe continues to expand its renewables capacity.

UK oil and natural gas production is on long-term decline as old oil and gas fields in the North Sea mature and near the end of their life cycle. Oil and gas extracting companies reaped the rewards of an upsurge in global prices through 2022-23, leading to sharp revenue growth. However, this quickly turned around in 2023-24, with most major companies’ revenue nosediving along with oil prices as oil and gas from America flooded the market, slightly outpacing demand. Still, revenue is expected to expand at a compound annual rate of 5.1% over the five years through 2025-26 to £23 billion, owing primarily to the significant price hikes of 2021-22 and 2022-23. This includes a forecast dip of 4.3% in 2025-26, owing to oil and gas prices edging down. Profit is also slated to fall over the year. Global oil and gas prices greatly affect the industry's performance, with the Organisation of the Petroleum Exporting Countries (OPEC) putting supply cuts in place and global tensions resulting in price peaks and troughs. In October 2022, OPEC instituted a supply cut of two million barrels of crude oil per day, driving Brent Crude Oil prices up to US$110 (£87.80) per barrel, which was extended until March 2025. At the same time, the sanctions on Russian oil and gas imports because of the Russia-Ukraine conflict add further impetus to prices. The EU has banned imports of Russian-made oil and gas, providing opportunities for UK exporters. Crude oil prices remain high, but significant oil production from non-OPEC countries has made oil prices plummet since July 2024. Despite mounting tensions in the Middle East having the potential to cut oil supply from the region, the ongoing political tensions have yet to significantly impact global prices, with prices falling by 15.8% in the year to August 2025. Oil and gas prices are likely to continue inching downwards in the coming years. The UK government has implemented policies to create a more favourable environment for extractors in the North Sea to improve UK energy security. However, the depletion of natural resources, the high cost of extraction, low gas and oil prices and the global energy transition will threaten the industry's long-term viability. Revenue is forecast to climb at a compound annual rate of 2% over the five years through 2030-31 to £25.4 billion, supported by two new major oil and gas fields, Jackdaw and Rosebank.