UK Gas Prices Set for 40% Annual Decline

2025-12-31 10:21 By Joana Ferreira 1 min. read

British wholesale gas prices remained around 73 pence per therm, close to the 20-month low of 69.7 pence reached on December 10.

Strong wind power generation helped offset heating demand during a cold spell, while an outage at Norway’s Troll gas field constrained supply.

UK gas is on track to finish 2025 roughly 40% lower, reflecting weaker European demand and rising LNG imports, particularly from the US, which is expected to set a record for exports to Europe this year.

Meanwhile, Europe continues its phaseout of Russian gas: on December 17, the European Parliament approved the EU’s plan to end Russian imports by late 2027, clearing the penultimate legal hurdle before the ban becomes law.



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