Energy Market Report – April 2026
Time-bound market update. Data and assessments reflect market conditions when the report was published. UK / Europe.
Open ERA Group's original report ↗The report described April 2026 as fairly quiet in terms of gas pricing. Although the Strait of Hormuz remained closed for the foreseeable future, the market price of gas for the UK and Europe stayed stable, at a roughly 40% premium (as at 24 April) to the pre-conflict lows of February.
That relative stability was attributed to the season: solar and wind reduced the need for gas-fired generation and the winter heating season had ended. The report cautioned that delaying the replenishment of reserves could create a larger problem later in the year. UK gas storage was reported at 41% full and the EU at 31%.
It also noted that the energy content accounted for only around 50% of the contracted electricity price, that suppliers had increased prices on existing fixed-price contracts in April under change-of-law clauses (nRAB and TNUoS), and that the Climate Change Levy rose from 0.775p/kWh to 0.801p/kWh.
Key takeaways
- Gas prices held stable despite the closed strait — around a 40% premium to February.
- UK gas storage 41% full, EU 31%; the EU November target was 80%.
- Energy content made up only around 50% of the actual electricity price paid.
- Change-of-law clauses were used to raise prices on already-agreed fixed contracts.
- Climate Change Levy increased to 0.801p/kWh for both electricity and gas.
Relevant for
CFO · Procurement · Energy manager
- Source
- ERA Group
- Language
- English
- Length
- 2 pages
- Date
- April 2026
- Market
- UK / Europe
Original material from ERA Group. JMF Europe provides a short summary here.