The GB gas wholesale market

Britain’s wholesale gas market involves the buying and selling of natural gas in Britain after it has arrived from offshore production sites. These include liquefied natural gas (LNG) terminals, storage sites, pipelines from other countries (such as Norway) and through interconnectors with Europe (in Belgium, Holland and Ireland).

The wholesale gas market in Britain has one price for gas irrespective of where the gas comes from. This is called the National Balancing Point (NBP) price of gas and is usually quoted in price per therm of gas.

Gas shippers, those who bring gas to Britain or transport within Britain, buy and sell gas and provide suppliers with gas so that they can provide it to end customers.

As well as complying with relevant UK and EU legislation and conditions of the various licences, gas transporters and shippers have to abide by conditions laid out in the industry-governed Uniform Network Code (UNC). Any changes to the UNC must be approved by us.

National Grid Gas plc is Britain’s System Operator. Among other duties, it is in charge of making sure that gas supply matches gas demand on a daily basis.

Publications and updates

  • Published: 11th Oct 2018
  • Reports and plans
  • 3 Associated documents
In our second annual State of the Energy Market report, we assess how well energy markets are working for consumers.

  • Published: 1st Nov 2017
  • Main webpage
  • 0 Associated documents
Ofgem's Chief Economist, Joe Perkins, introduces the key findings of our State of the Energy Market 2017 report.

  • Published: 31st Oct 2017
  • Reports and plans
  • 2 Associated documents
Ofgem's evidence-based assessment of the issues affecting the GB energy markets and its performance for consumers in 2017.

  • Published: 21st Oct 2015
  • Decisions
  • 1 Associated documents
Approval of National Grid Gas' revised Capacity Methodology Statements to incorporate elements of CAM Network Code including a direction to make further amendments