Wholesale UK gas prices for delivery the next day traded at 40 pence per therm at 0730 GMT on Thursday, their lowest level since October 7 2010.
The renewed drop also means that British spot gas prices have shed 40 percent in value since the beginning of the year.
Traders said that the low gas prices were a result of high stocks following a mild winter and spring as well as healthy pipeline and shipped liquefied natural gas (LNG) supplies.
Research company Energy Aspects said that prices could drop to 38 pence a therm once maintenance work at Britain’s main pipeline connection to continental Europe (IUK) this month prevents excess gas to be exported.
UK GAS-Spot prices drop to lowest since Oct. 2010