03/06/2026
Daily Energy Market Report, 3rd June 2026
The near-term easing of the past week has reversed sharply. UK day-ahead gas surged back to around 120p/therm on Tuesday as the Norwegian offshore strike, scheduled to begin on Thursday 5 June, moved from a risk to a near-certainty. More than 8,000 workers have given formal notice, and state-brokered mediation is making slow progress.
Q3-26 gas is up 8.9% on the week, Winter-26 is back above 120p, and EUA carbon hit EUR 80.50/tonne, its highest in four months, pushing day-ahead power to around GBP 111/MWh.
UK storage sits at just 10% of capacity, the lowest in Europe. A Norwegian supply disruption during the summer injection season is the worst possible timing. Businesses with contract renewals in Q3 or Q4 should be reviewing their position before Thursday.
Full analysis: https://www.catalyst-commercial.co.uk/works/uk-energy-market-report-03-june-2026/