The Week's Story
Narrative content explaining DA noise vs forwards repricing discipline...
Thomas McGlynn • 12 January 2026
UK Energy Market Update: 5th - 9th Jan 2026
📅 Week 1 | 5–9 January 2026
⛽ Gas ↓ -2.2%
⚡ Power ↓ -0.4%
🟠 PEAK COLD WEEK
Peak Cold Week: Extreme Demand, Then Repricing as Forecasts Warm
This was the peak cold week — demand surged to 349–393mcm/day, well above seasonal normal. Day-ahead (spot) had extreme volatility: £102.20 weekly average, with peak days hitting £117.95. But forwards (your actual renewal prices) repriced harder downward, showing panic was temporary. Feb-26: 71.47p gas, £81.20 power. Q2-26 (spring): 63.67p gas, £69.24 power — significantly cheaper. Supply remained abundant. Reality reasserted: cold is real but transient, not structural.
⛽ GAS (Feb-26)
Feb-26 Close
71.47p
↓ -2.2%
Week Peak
78.40p
5 Jan (DA)
Weekly Avg
76.06p
Extreme demand
📅 SEASONAL PRICING (Your Renewal Cycle)
❄️ FEB-26 (Immediate)
⛽ Gas
71.47p
⚡ Power
£81.20
🔄 Q1-26 (Jan-Mar)
⛽ Gas
70.80p
⚡ Power
£80.10
🌱 Q2-26 (Apr-Jun)
⛽ Gas
63.67p
-11.1%
⚡ Power
£69.24
-14.7%
❄️ Q4-26 (Oct-Dec)
⛽ Gas
66.94p
⚡ Power
£73.32
⚡ POWER (Feb-26)
Feb-26 Close
£81.20
↓ -0.4%
Week Peak
£117.95
8 Jan (DA)
Weekly Avg
£102.20
Wind collapse + peak
📊 Day-by-Day Breakdown
Day-by-day breakdowns showing spot (DA) and forwards repricing throughout the week...
Full Price Table
Complete pricing data...
Should I Buy Now?
Renewal guidance...
Cold Peak Over — Repricing Complete
Feb-26:
Gas 71.47p, Power £81.20
Cal-27:
Gas 62.80p, Power £70.39
Lock multi-year for genuine discount. Supply abundant throughout peak.
