UK Gas decreased 26.27 GBp/Thm or 20.95% since the beginning of 2025, 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 March of 2025.

UK Electricity decreased 15.90 GBP/MWh or 15.52% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for the United Kingdom Electricity Price.

In February 2025, electricity prices in the United Kingdom amounted to 143.37 British pounds per megawatt-hour, an increase on the previous month. A record high was reached in August 2022 when day-ahead baseload contracts averaged 363.7 British pounds per megawatt-hour.
Electricity price stabilization in Europe Electricity prices increased in 2024 compared to the previous year, when prices stabilized after the energy supply shortage. Price spikes were driven by the growing wholesale prices of natural gas and coal worldwide, which are among the main sources of power in the region.

… and in the United Kingdom? The United Kingdom was one of the countries with the highest electricity prices worldwide during the energy crisis. Since then, prices have been stabilizing, almost to pre-energy crisis levels. The use of nuclear, wind, and bioenergy for electricity generation has been increasing recently. The fuel types are an alternative to fossil fuels and are part of the country's power generation plans going into the future.

Germany, Belgium, and Ireland had some of the highest household electricity prices worldwide, as of June 2024. At the time, German households were charged around 0.39 U.S. dollars per kilowatt-hour, while in Belgium, the price stood at 0.37 U.S. dollars per kilowatt-hour. By comparison, in Qatar, residents paid more than 10 times less. What is behind electricity prices? Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion of residential end-user electricity prices. Reliance on fossil fuel imports Meanwhile, thanks to their great crude oil and natural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations. The top importers of natural gas in Europe in 2023 were Germany and Italy, where this energy source constitutes a relevant share of the power mix.

The average gas price in Great Britain in January 2025 was 123.02 British pence per therm. This was 50 pence higher 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 were exceptionally high in 2021-2022 due to an energy supply shortage as a result of lower pipeline supplies from Norway and Russia, as well as reduced LNG imports owing to greater purchases by customers in Asia. 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. This led to multiple suppliers announcing bankruptcy, while an upped price cap threatened 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.

Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, 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 March of 2025.

This dataset provides values for ELECTRICITY PRICE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

TTF Gas decreased 8.92 EUR/MWh or 17.69% since the beginning of 2025, 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 March of 2025.

This dataset provides values for ELECTRICITY PRICE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The UK inflation rate was three percent in January 2025, up from 2.5 percent in the previous month, and the fastest rate of inflation since March 2024. Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022. Due to this long period of high inflation, UK consumer prices have increased by over 20 percent in the last three years. As of the most recent month, prices were rising fastest in the communications sector, at 6.1 percent, but were falling in both the furniture and transport sectors, at -0.3 percent and -0.6 percent respectively.
The Cost of Living Crisis High inflation is one of the main factors behind the ongoing Cost of Living Crisis in the UK, which, despite subsiding somewhat in 2024, is still impacting households going into 2025. In December 2024, for example, 56 percent of UK households reported their cost of living was increasing compared with the previous month, up from 45 percent in July, but far lower than at the height of the crisis in 2022. After global energy prices spiraled that year, the UK's energy price cap increased substantially. The cap, which limits what suppliers can charge consumers, reached 3,549 British pounds per year in October 2022, compared with 1,277 pounds a year earlier. Along with soaring food costs, high-energy bills have hit UK households hard, especially lower income ones that spend more of their earnings on housing costs. As a result of these factors, UK households experienced their biggest fall in living standards in decades in 2022/23. Global inflation crisis causes rapid surge in prices The UK's high inflation, and cost of living crisis in 2022 had its origins in the COVID-19 pandemic. Following the initial waves of the virus, global supply chains struggled to meet the renewed demand for goods and services. Food and energy prices, which were already high, increased further in 2022. Russia's invasion of Ukraine in February 2022 brought an end to the era of cheap gas flowing to European markets from Russia. The war also disrupted global food markets, as both Russia and Ukraine are major exporters of cereal crops. As a result of these factors, inflation surged across Europe and in other parts of the world, but typically declined in 2023, and approached more usual levels by 2024.

Energy Inflation in the United Kingdom decreased to -6.60 percent in January from -6 percent in December of 2024. This dataset includes a chart with historical data for the United Kingdom Energy Inflation.

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

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Drilling Data Management Systems Market Size 2025-2029

The drilling data management systems market size is forecast to increase by USD 17.89 billion, at a CAGR of 10.6% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing adoption of big data analytics in the oil and gas industry. With the vast amounts of data generated during drilling operations, drilling data management systems are becoming essential for improving productivity and transparency. This trend is particularly pronounced in regions with high drilling activity, such as North America and the Middle East. However, the market growth is not without challenges. Fluctuations in crude oil prices continue to impact the market, as drilling activities can be scaled back during price downturns. Additionally, the integration of drilling data management systems with other operational systems and data sources can be complex, requiring substantial investment in technology and personnel.
Companies seeking to capitalize on market opportunities and navigate challenges effectively should focus on developing user-friendly solutions that can seamlessly integrate with existing systems and provide real-time data analysis capabilities. By doing so, they can help operators make informed decisions, optimize drilling operations, and reduce costs. Overall, the market presents significant opportunities for growth, particularly as the industry continues to embrace digitalization and data-driven decision-making.

What will be the Size of the Drilling Data Management Systems Market during the forecast period?

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The market in the oil and gas industry is experiencing significant growth due to the increasing importance of asset optimization and well control in maximizing production rates from conventional reservoirs and economically viable shale formations. Advanced drill planning and engineering systems, geoscience systems, and database administration software are integral components of drilling data management systems, enabling real-time data collection, analysis, and reporting for drilling management teams. Multilateral wells and complex drilling operations necessitate strong data management systems to ensure efficient wellbore location tracking and production rate monitoring.
Cybersecurity concerns are also driving demand for advanced data management solutions to protect sensitive drilling data transmitted wirelessly from oil rigs. The market is further driven by the integration of drilling data management systems with engineering and production asset teams, enabling collaborative decision-making and improved drilling performance. Gas hydrates and other geological challenges pose technical complexities that require sophisticated data management systems to ensure safe and efficient drilling operations. Overall, the market is expected to continue its growth trajectory, driven by the need for data-driven drilling strategies and the increasing complexity of drilling operations.

How is this Drilling Data Management Systems Industry segmented?

The drilling data management systems industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Component

  Services
  Software
  Hardware


Application

  Oil and gas
  Energy and power


Geography

  North America

    US
    Canada
    Mexico


  Middle East and Africa

    UAE


  Europe

    Norway
    Russia
    UK


  APAC

    Australia


  South America

    Brazil

By Component Insights

The services segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to the increasing importance of data-handling efficiency in various industries. With the generation of vast data volumes, there is a heightened demand for flexible, scalable, and effective data management solutions. The services segment within this market encompasses activities such as sensor installation, equipment maintenance, consultation, and data analytics, all applied throughout drilling operations. New technologies like vertical drilling and Enhanced Oil Recovery (EOR) are driving investments in this sector, as they decrease drilling time and facilitate the efficient extraction of oil. Additionally, the integration of advanced technologies like Real-time analysis, Predictive analytics, Artificial Intelligence, IoT Sensors, and Cloud Computing, enhances operational efficiency and data transparency.

The market is further driven by the need for data security, particularly in the oil and gas industry, where cybersecurity concerns are increasingly prevalent. The market caters to both conventional and unconventional resources, including crude oil, shale oil, shale gas, and conven

Graph and download economic data for Global price of Natural gas, EU (PNGASEUUSDM) from Jan 1990 to Feb 2025 about EU, gas, World, Europe, and price.

Spain Electricity decreased 81.27 EUR/MWh or 59.82% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for Spain Electricity Price.

This library consists of extensive price and performance data of commercially available technologies for low-carbon energy systems on the UK market, including domestic and commercial applications. All information is obtained from published manufacturer datasheets and pricelists. The library contains useful information for energy-system and technology modellers in their efforts to capture the techno-economic characteristics of different technology options, minimise uncertainties and suggest reliable system- and technology-design strategies.

The data analysis shows how technology characteristics vary with component choice, technology size and to capture the spread of values found between different suppliers, which can be used to determine uncertainty bounds on key performance indicators. Fitting techniques can be used to determine relationships arising from the collected data, infer values for which data are not available and quantify the related variability in technology characteristics.

This work was conducted by members of the Clean Energy Processes (CEP) Laboratory and is part of Project 2 of the Integrated Development of Low-Carbon Energy Systems (IDLES) project. IDLES brings together researchers across Imperial College London and partner organisations and companies to provide the evidence needed to facilitate a cost-effective and secure transition to a low-carbon future. The overarching aim of Project 2 is: (i) to characterise current and new/future technologies in terms of cost and performance to provide evidence for whole-energy system modelling; and (ii) to extend the capabilities of whole-energy-system models so that they can, apart from optimising energy network infrastructures, provide information to manufacturers about the optimal choice of materials, components and the design of key technologies.

The library will be updated regularly as more data regarding existing and new technologies are collected.