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Natural gas prices increased by over 40% this month, with UK delivery prices reaching a six-month high. Gas Infrastructure Europe reported storage filled to only 52% capacity. Cold weather and low LNG supplies, mainly from the US, have exacerbated the situation.

UK delivery prices rose over 8 pence per therm. The market faces challenges from cold weather forecasts, depleting stocks, and geopolitical risks. Gas-fired power generation accounted for 36% of the UK's electricity production recently. The government emphasizes renewable energy to stabilize gas price volatility, completing a record offshore wind tender this week.