Please see below the latest update from YPO on quarter 1 gas performance.
Q1 2026_ Gas Basket Trading & Performance
April 2025/2026 - Overview:
The annual ‘mark to market’ price for the April-25 contract as of
2nd March 2026 is 3.54p/kWh (Reported at 3.43p/kwh in the previous edition). The April-25 contract is currently performing at 7% below the final price achieved for the April 2024 contract.
The table below shows the levels of month-by-month breakdown cover, together with the forecast commodity prices, based on the current market position. This position is based on our fixed versus open positions per period.
Table 1 – April 2025 Breakdown (As of: 2nd March 2026):
Please note: The non commodity element (0.4119p/kwh) is an average calculation against the entire basket. For more accuracy, please replace this with your own transportation fees via the Corona Transportation spreadsheet and use Column Z
Weighted Average Unit rate.
Basket Forecast
(Customers should remember that the above forecast prices, together with any bespoke forecasts sent by the YPO team are not the final prices used for billing. These will be impacted by daily movements in gas market prices and the Cost of Gas (CoG) process,
which is carried out, once actual monthly consumption is determined).
April 2026/2027 Overview:
The annual ‘mark to market’ price for the April-26 contract as of
2nd March 2026 is 3.06p/kwh.
The table below shows the levels of month-by-month breakdown cover, together with the forecast commodity prices, based on the current market position. This position is based on our fixed versus open positions per period.
Table 2 – April 2026 Breakdown (As of: 2nd March 2026):
The forward contract overview(s) below provides an estimated commodity forecast within our rolling 3-year hedging strategy. The basket forecast provides an annual hedged position, alongside the current weighted average price of commodity in p/kwh, with an
overall % change from the previous year.
Note: These figures are based on our fixed versus open positions as of:
2nd March 2026.
Basket Forecast
April 2027/2028 Overview:
Table 3 – April 2027 Breakdown (As of: 2nd March 2026:
Basket Forecast
As we are highly hedged for gas out until 2028 currently, our risk management and trading strategy has helped to protect against sharp rising markets following the escalations in conflict in and around Iran.
Additional non commodity charges:
Substantial investment is being made into the networks inline with future plans to produce cleaner energy, as a result increases into transportation costs are expected by around 30%. The impact will be greater on power than gas.
Further to the above increases, there will also be an increase in Climate Change Levy (CCL)
Further information can be found below:
Climate Change Levy rates - GOV.UK
YPO/ Corona Customer Session:
The next gas customer session is planned for 26/03/26 at 1pm. Invites will be issued shortly.
Future outlook:
YPO customers are in a good position as the basket is currently purchased out to Mar 2028 meaning that the longer term hedging strategy is working as we are able to minimise the impact of the current energy shocks by purchasing over a longer period and also
trading when triggers are reached. The trading report shows that from the 1st of April 2026 customers will be paying circa 3.06p/kwh for the commodity and from 1st of April 2027 2.42p/kwh on the commodity. Non commodity is added separately
on top. We will continue to monitor summer 2028 and beyond prices.