Despite the increasing tensions in the Middle East that dominated the news last week, day ahead prices closed the month of February a solid 25% lower than the previous month. Power traded at £76.5 MW/h and gas was 79 p/th, although at the time of writing, power had fully recovered its February losses and gas was 20 p/th higher than its previous record for the year to date.

January experienced heightened volatility in the wholesale market following a comparatively stable 2025.

At the start of December prices were still on a downward trajectory as seasonal temperature predictions continued to be above normal. By the end of the month, day-ahead power had continued its bearish momentum, finishing on £45MW/h down from £76MWh, as strong wind output and lower demand added pressure.