Research and analysis

Fossil fuel price assumptions: 2023

These fossil fuel price assumptions for 2023 present various assumptions for the wholesale prices of oil, gas and coal for the UK out to 2050.

• From: Department for Energy Security and Net Zero
• Published: 30 November 2023

Documents

Fossil fuel price assumptions 2023

PDF, 783 KB, 23 pages

Fossil fuel price assumptions 2023: data tables

MS Excel Spreadsheet, 445 KB

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Fossil fuel supply curves (prepared by Rystad Energy)

PDF, 1.16 MB, 40 pages

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Details

Each year the Department for Energy Security and Net Zero, formerly the Department for Business, Energy and Industrial Strategy, updates its long-term price assumptions for oil, gas and coal.

These are assumptions for the wholesale fossil fuel prices that are relevant for the UK economy and which are set in international markets. These assumptions are required for long-term economic appraisal and therefore reflect a range of potential long-term trends. They are not forecasts of future energy prices.

This publication presents analysis from 2023.

Contact ieu.analysis@beis.gov.uk for any enquiries about these assumptions or the supporting documents.

Published 30 November 2023