Energy Market Update – November 2025

Energy Market Update – November 2025

As we approach the end of the year, the UK wholesale energy markets reflect a mix of steady fundamentals and underlying tension. From supply flows recovering to mild weather reducing demand pressure, the situation looks stable, but there are clear signals you should keep on your radar. At Dyce Energy we’re helping you make sense of what it all means for your business.

October in review – why wholesale prices moved

• Norwegian gas export flows: Maintenance and reduced output early in the month trimmed available flows to the UK and wider Europe, tightening supply. Later in the month flows recovered above ~300 million cubic metres/day, easing that pressure. 
• Liquefied natural gas (LNG) import disruption: Strikes at French LNG terminals constrained regasification capacity temporarily, lifting short-term supply risk premiums. 
• Wind generation variability: Calm periods reduced wind output, increasing reliance on gas-fired generation which supported power prices; conversely, strong wind spells suppressed gas burn for power. 
• Gas storage and European stocks: Storage levels across Europe remained relatively high (around eighty-percent full), helping buffer against demand shocks and keeping the market from getting overly stretched. 
• Forward pricing firmed: Despite day-to-day volatility, forward contracts for gas and power edged higher, signalling that the market expects sustained risk rather than a quick drop. 

Bottom line: Gas and power wholesale prices ended the month marginally higher than the prior month, suggesting a cautiously elevated price level ahead of the winter period.

Headlines your business should note

• The industry trade body Energy UK called for a major overhaul of the regulator Ofgem, arguing that regulatory cost burdens have increased while growth and investment affordability have been squeezed. 
• Analysis shows that the UK has already spent about £1 billion this year paying wind-farms to shut off generation because grid constraints prevented them from exporting power, highlighting infrastructure bottlenecks despite high renewable output. 
• A large-scale micro-grid community in the UK was activated this month, combining behind-the-meter generation, battery storage and optimised demand control, signalling how distributed generation and storage are becoming more than just ‘nice to have’. 

What could move prices in November?

What this means for your energy budget

For your business the message is simple: while the immediate outlook shows no shock mid-scenario, the risk of an unpleasant surprise remains real. Because forward prices have already moved up a little, waiting too long to renew or fix your contract gives the market more opportunity to surprise you upwards. If your contract ends in the next twelve months, now is a sensible time to seek a fixed-price contract from Dyce Energy to lock in certainty and protect against future upside moves.

How Dyce Energy turns insight into advantage

Your action plan for November

1. Check your current contract’s end-date (and any notice period) so you don’t roll onto an out-of-contract rate.
2. Tell Dyce your target price now so we can monitor market windows and act when appropriate.
3. Explore green options, 100% renewable electricity or carbon-neutral gas, to align your business with sustainability goals.
4. Request a quote today, give us a call or visit dyce-energy.co.uk/quote to compare your options.