Welcome to
the Energy
Ledger.
An independent, weekly read on UK gas, power, carbon and LNG markets — written for the desks that have to act on it, not the ones that just watch it.
GB carbon intensity and generation mix update live from the National Energy System Operator. NBP, TTF, UK power and EUA are updated weekly by hand from broker reports — illustrative, not for trading.
What's in every issue
Four beats, covered every week, always tied back to what it means for procurement.
Day-ahead and the forward curve
Storage levels, flow data, and what's actually moving the front month — not just that it moved.
Day-day power and the generation mix
Baseload swings, wind and interconnector flows, and the read-through for fixed-price procurement.
Where the two schemes diverge
EUA and UK ETS pricing side by side, and what the gap means for compliance buying.
The supply chain behind the headline number
Global cargo flows and freight rates — the detail that eventually shows up in NBP a few weeks later.
Built for the desk, not the general reader
No terms are defined mid-sentence. If you trade or broker UK energy, you already speak the language.
| Brokers | A second read on the week's market notes before the desk opens — context, not repetition. |
| Traders | The geopolitical and structural story behind the numbers, alongside the numbers themselves. |
| TPIs | Procurement-implications framing you can hand straight to a client without rewriting it. |
| Sector executives | A concise, weekly view of where UK gas, power, carbon and LNG markets are heading next. |
Read the archive
Every issue lives on Substack — free to read, easy to forward, and searchable by week.
Every past issue of The Energy Ledger
Broker positioning, the week's central market theme, and a forward-looking what-to-watch, week after week. Browse the complete run on Substack.
Latest gas, power & carbon news
Pulled automatically from official UK government sources — filtered to gas, power, carbon and LNG, refreshed hourly.
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See the live generation mix, carbon intensity & demand
A real-time snapshot of Great Britain's electricity system — updated automatically from official public data.
“An independent read on UK energy markets — written by someone who spends their week in them.”
About Asher Kilbride
Asher Kilbride writes The Energy Ledger from inside the UK energy industry — close enough to the desks, the broker notes and the procurement conversations to know what actually matters week to week, and to write about it without a house view to protect.
The name is a pen name. The markets aren't.