Energy Market Update: 19th - 23rd May 2025

Gas and power prices climbed again last week, rising for a second week in a row as Norwegian maintenance continued and political uncertainty lingered. Here's what moved the market and what it means for your next contract.

📊 Weekly Energy Market Recap

⚡ Quick Snapshot

• Day-Ahead Gas: Up from 79.36 p/therm to 85.72 p/therm

• Day-Ahead Power: Rose from £77.63 to £85.89/MWh



• Both markets reached new 6-week highs, led by lower Norwegian flows and geopolitical risks
  

📅 5-Week Price Trend

📈 Prices are now firmly back on an upward trajectory after a brief drop mid-May.

📉 Market Overview

📌 Rangebound to Rising

Markets opened quietly but surged midweek as Norwegian gas flows dipped sharply and peace talks between Russia and Ukraine fell flat.

🌍 Political Influence

A phone call between Trump and Putin failed to yield progress, while U.S. senators proposed new penalties on Russian trade. Sentiment remains sensitive to headlines.



🧊 Weather & Storage

Slightly cooler temperatures and strong gas storage targets in the EU (~45%) added to bullish pressure.

📊 Weekly Prices at a Glance

🔍 Key Factors This Week

🟨 Soft Fundamentals

• 📉 Norwegian gas flows hit a low due to Kollsnes maintenance
• 🌡️ Weather cooled midweek, raising gas-for-heating demand
• 🔋 EU storage hit 45%, still behind seasonal average

🌍 Geopolitical & Trade Headlines

• 🧾 Failed Russia–Ukraine peace talks dragged on
• 📞 Trump–Putin call offered no breakthrough
• 🇺🇸 New U.S. legislation proposed trade penalties on countries buying Russian energy
• 🌏 LNG demand in Asia picked up, raising competition for supply
  

📣 What This Means for Your Business

🔹 Contracts Ending Soon (0–3 Months)

Now is a sensible time to fix. The market has been climbing and recent dips are being erased. Locking in now could protect you from any further short-term spikes.

🔹 Contracts Ending Mid-Term (3–6 Months)

Request a quote and set a trigger point. You may want to wait — but prices are rising, and a dual quote (for now vs. later) can help you make a clear choice.



🔹 Long-Term Renewals (6+ Months)

No rush, but monitor closely. If we see another Norwegian outage, or if peace talks fall apart, prices could creep up. Set price alerts and review quarterly.

👉 Avoid paying more than you need to.

If your contract’s due soon, now could be a smart time to get a fixed quote while prices are still below winter highs.

📈 6-Month Energy Market Trends

Gas and power prices bounced sharply after weeks of sideways movement.
We’re now seeing prices at their highest since late March.



📈 Gas is nearing 90 p/therm again, a level last seen in mid-Q1.
📈 Power is back near £90/MWh, driven by supply fears and tightness in LNG and renewables.

🔭 Next Steps

Ready to Lock in Better Rates or Stay Ahead of the Market?

Our experts monitor global energy movements so you don’t have to—take control now.

🔮 Looking Ahead

• 🔧 Norwegian flows expected to return to normal — could ease pressure
• 🧊 Cooler weather across Northern Europe may increase short-term demand
• 📅 All eyes remain on whether any progress will be made on Russia–Ukraine peace
• 🧾 New U.S. sanctions could spark more volatility depending on timing

🤝 Final Thoughts

The market continues to react more to politics than physical shortages.
But prices are clearly rising, and the risk of doing nothing is growing.


If you’ve got a renewal due before summer — now is a good time to review it.