Daily Energy Market Report & Business Rates | Smart Energy Co
2026 Gas Holds Below 70p — Markets Consolidate
Energy prices consolidating at historic lows. 2026 gas at 69.29p is now firmly below 70p for the second day running — still falling. But longer-dated contracts (2027, 2028) saw small upticks today as some traders take profits. Power spot jumped 11% on low wind, but that's just daily noise. These are still extraordinary prices: 40% cheaper than this time last year.
Energy Prices for Future Years — The Numbers That Matter for Your Contract
What Happened Today — A Mixed Picture
2026 gas prices are holding below 70p for the second day. After breaking through 70p on Tuesday (69.51p), today we're at 69.29p — another small drop. The near-term contracts that matter for most renewals are still falling: 2026 gas down 0.22p, Q1-26 down 0.50p, Summer 2026 down 0.14p.
But longer-dated contracts saw small upticks. 2028 gas rose 0.14p, 2027 power rose 0.19p, and 2028 power rose 0.54p. This looks like profit-taking after the sharp falls of recent days — traders locking in gains rather than a trend reversal. The 5-day trend is still strongly down.
Power spot jumped 11% today but don't worry — that's just wind. Today's electricity price of £85.52 is higher because wind generation is low. This is normal daily volatility. The forward contracts (what matters for renewals) tell the real story: 2026 power still falling at £71.01.
How Much Prices Changed — Mixed Picture Today
TODAY'S CHANGES 2 Dec → 3 Dec 2025
📉 5-Day Trend: 27 Nov → 3 Dec (Still Down Overall)
Despite today's small upticks in longer-dated contracts, the 5-day trend remains strongly down:
5-Day Forward Price Movement
Last 5 business days showing clear downward trend: 2026 gas from 72.21p down to 69.29p (-4%). Today saw small upticks in longer-dated contracts.
Why This Matters — Peace Talks Continue
1. Witkoff-Putin Meeting Ongoing
US diplomat Steve Witkoff continues talks with Putin in Moscow. Trump administration remains hopeful of breakthrough. Markets have priced in expectations of peace progress.
2. Mild Weather Continues
Temperatures staying 3-4 degrees above normal through the weekend. Lower heating demand means less gas needed, keeping prices under pressure.
3. Strong Supply & Nuclear Coming
Langeled pipeline flows very strong at 73.3mcm. French nuclear output expected to increase by 4GW this week. More power supply means lower prices.
The simple story: Near-term 2026 contracts (what matters for most renewals) are still falling. Longer-dated 2027/2028 saw small upticks — likely profit-taking after sharp recent falls rather than a trend reversal. Today's spot power spike (+11%) is just wind volatility. The overall direction remains down.
Should I Buy Energy Now? — Based On When Your Contract Ends
The answer depends on when your current energy contract ends. If you need energy soon, these are extraordinary prices — 40% cheaper than last year for gas, 31% cheaper for power. If your contract doesn't end until summer or later, you might want to wait because prices could get even better.
Current prices: Q1-26: 72.18p gas, £77.40 power
Analysis: Winter energy costs about 6p more than summer, but you need winter energy so you can't wait. These are still extraordinary prices — 40% cheaper than last year. Recommendation: GET QUOTES NOW.
📞 Get quotes now. These are exceptional prices — 40% cheaper than this time last year.
Current prices: Q2-26: 66.59p gas, £67.19 power
Analysis: Spring prices are excellent — only 66.59p for gas, close to summer levels. You get seasonal advantage without much waiting risk. Recommendation: GET QUOTES NOW.
📞 Get quotes now. Spring prices are nearly as good as summer.
Current prices: Summer 2026: 66.53p gas, £66.93 power
Analysis: Summer at 66.53p is now cheaper than 2027 prices (67.36p). Prices have fallen 4% in just 5 days. You have 6+ months to wait. Recommendation: WAIT AND MONITOR.
📊 Wait and check weekly. Prices are falling and you have time.
Current prices: Winter 2026: 73.32p gas | 2027: 67.36p gas | 2028: 64.56p gas
Analysis: Winter 2026 at 73.32p vs summer 2026 at 66.53p = 7p difference. 2028 at 64.56p is the lowest yet. You have plenty of time. Recommendation: DEFINITELY WAIT.
📊 Wait. Summer pricing is 7p cheaper than winter. 2028 even better at 64.56p.
🎯 WEDNESDAY'S KEY POINT
A mixed day: 2026 contracts still falling, but 2027/2028 saw small upticks. This looks like profit-taking rather than a trend change — the 5-day trend is still strongly down (gas -4%, power -3%). 2026 gas at 69.29p remains below 70p for the second day. When you should buy depends on when your contract ends.
What To Watch This Week
Witkoff-Putin talks outcome: Meetings continue. Any breakthrough could push prices down further. Markets have already priced in some peace expectations.
Wind generation this week: Today's low wind caused the power spike. More wind later this week could push power spot back down — but this is daily noise, not trend.
French nuclear output: Expected to increase by 4GW this week. More nuclear = less gas-fired power needed = lower prices.
Smart Energy Buying — Know When To Act
Cal26 gas at 69.29p (second day below 70p!) and Cal27 at 67.36p. Forward contracts down 4% over 5 days.
Need energy soon? Lock in these extraordinary prices. Contract ends later? You might want to wait for even better deals.
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