UK Wholesale Energy, Gas, and Electricity Prices

Get the Latest UK Wholesale Energy Market Trends with Weekly Price Updates on Electricity, Gas, Coal, and Oil, Plus Key Cost Insights and Headlines.

Several factors influence the UK wholesale electricity prices including the intermittent nature of renewable energy, fuel costs, geopolitical events, weather conditions and supply and demand.

Staying informed about the latest trends in wholesale electricity and gas prices is crucial for organisations looking to optimise their energy procurement and energy risk management.

The TEAM energy wholesale gas and wholesale electricity price review is published weekly and includes:

Headline summary of the weeks wholesale gas and wholesale electricity price an overview of the latest price movements and factors influencing these changes	Brent crude oil prices
Wholesale Electricity Price UK	Coal prices
Baseload wholesale electricity prices	EUA Carbon prices
Peak wholesale electricity prices	UKA Carbon prices
Commodity Price Movements	Wholesale Gas Price and Wholesale Gas Price Snapshot.

UK Wholesale Gas & Electricity Prices – 20 April 2026

Headlines – UK Wholesale Gas Prices and Wholesale Electricity Prices

Overall, a bearish trend was seen across short-term and long-term gas and power markets, particularly driven by a perception of a stabilisation of the current conflict between the US and Iran, and potential re-opening of the Strait of Hormuz. However, developments over the weekend have threatened that outlook. Day-ahead gas fell 4.3% to 106.02p/th, following warmer weather across GB, reduced gas-fired generation and stable UK Continental Shelf flows. As a result, day-ahead NBP gas prices fell to 104.00p/th on 15 April, the lowest price seen since 27 February. While elevated, this is the lowest price seen since before the war broke out. Day-ahead power fell 7.0% to £99.29/MWh, particularly due to stronger wind outturn seen in the week’s latter half. Wind generation accounted for 53.7% of the generation mix on 15 April, the highest level seen across the week. May 26 gas was down 10.9% at 98.03p/th, and June 26 gas decreased 13.3% to 93.85p/th. Most seasonal gas contracts registered losses last week, down by 4.7% on average, while both winter 26 and summer 27 gas dropped 10.1% and 5.3% respectively, subsiding to 99.30p/th and 78.00p/th. Most seasonal power contracts declined this week, down on average by 3.0%, as winter 26 power decreased 3.3% to £88.00/MWh, while summer 27 fell 4.6% to £67.25/MWh.

Baseload wholesale electricity price

Forward curve comparison

Day-ahead power fell 7.0% to £99.29/MWh, largely driven by system oversupply in the weeks latter half, due to stronger wind outturn.
May 26 power slipped 4.7% to £82.00/MWh and June 26 power decreased 6.4% to £85.45/MWh.

Annual October contract

Q326 power moved 5.6% lower to £84.25/MWh.
The annual October 26 contract lost 3.9% to £77.63/MWh, 7.3% higher than the same time last year (£72.38/MWh).

Peak wholesale electricity price

Forward curve comparison

Day-ahead peak power was down 4.2% to £92.93/MWh, following its baseload counterpart.
May 26 peak power declined 6.8% to £82.25/MWh, and June 26 peak power decreased 8.9% to £85.38/MWh.

Annual October contract

The annual October 26 peak power contract rose 2.6% to £87.93/MWh.
This is 7.7% lower than the same time last year (£95.25/MWh).

Seasonal power prices

Seasonal baseload power contracts

Most seasonal power contracts declined this week, down on average by 3.0%.
Winter 26 power decreased 3.3% to £88.00/MWh, while summer 27 fell 4.6% to £67.25/MWh.

Seasonal peak power curve

Most seasonal peak power contracts declined this week, down 2.5% on average.
Winter 26 and summer 27 peak power dropped 4.4% and 3.9% respectively, falling to £105.15/MWh and £68.25/MWh.

Commodity price movements

Oil and coal

Brent crude oil saw losses across the reporting period, falling 5.8% to average $95.84bl. Prices started the week at $100.28/bl before dropping to $88.91/bl by Friday, the lowest price seen since the start of March.
Higher prices at the start of the week were supported by concerns of prolonged disruptions to global oil supply as US President Donald Trump announced on 12 April that the US will blockade “any and all ships trying to enter or leave the Strait of Hormuz”.
However, as we moved through the week, negotiations between the US and Iran helped alleviate supply concerns among market participants, following remarks by Donald Trump that the conflict appears “close to over” and that US-Iran talks could resume in Pakistan within two days.
Crude oil production by the OPEC group fell by around 7.9 million barrels per day (bpd) in March 2026 compared with February, and global oil supply recorded the largest monthly decline on record, falling by 10.1 million bpd in March due to the impact of the war.

Carbon (UK and EU ETS)

Both UK & EU ETS carbon prices moved higher, rising 12.6% and 3.4%, to £47.79/t and €74.68/t, respectively.
Across the market, both EU and UK ETS saw gains across the week, highlighting how carbon prices have decoupled from the gas markets, and now are more likely to trade in relation to equities, mirroring the movements seen across European and global stock markets.
Across the week, higher prices across EU ETS carbon were supported due to a lighter auction schedule following the absence of the Polish auction on 15 April.
Similarly, we continue to see that compliance-driven auction premiums support higher prices, but stronger gains are limited by uncertainty surrounding EU ETS developments and cautious sentiment from those trading in the market.
Despite this, UK ETS carbon prices reached £51.20/t by the end of the week, the highest level seen since 10 February as wind generation is set to remain subdued in the week ahead.

Wholesale price snapshot – Friday-on-Friday

		Gas (p/th)		Electricity (£/MWh)		Coal ($/t)	EUA carbon (€/t)	UKA carbon (E/t)	Brent Crude ($/bl)
		Day-ahead	Year-ahead	Day-ahead	Year-ahead
Last Week	17 Apr 26	106.02	88.65	99.29	77.63	102.25	76.80	51.20	88.91
Two weeks ago	10 Apr 26	110.79	96.44	106.75	80.75	104.50	72.82	43.12	96.90
Four weeks ago	20 Mar 26	147.00	127.07	123.00	94.88	126.00	67.62	36.86	109.28
Last year	11 Apr 25	85.50	79.77	80.61	72.38	99.00	66.83	47.15	66.74
Year-on-year% change		24.0%	11.1%	23.2%	7.3%	3.3%	14.9%	8.6%	33.2%
12-month high		160.00	150.59	136.00	110.46	137.00	92.05	72.95	112.57
12-month low		66.90	65.6	18.03	68.50	89.70	61.05	34.75	58.80

Analysis provided by: Cornwall Insight

UK Wholesale Energy Prices – 13 April 2026

Headlines – UK Wholesale Gas and Electricity Prices Latest news on UK wholesale energy market trends, with weekly, monthly, and yearly price updates on gas and electricity (day-ahead and year-ahead), coal, EUA carbon, UKA carbon, and Brent crude oil, plus key cost movements. Overall, similarly to last week, geopolitical developments...

UK Wholesale Energy Prices – 7 April 2026

Headlines – UK Wholesale Gas and Electricity Prices Latest news on UK wholesale energy market trends, with weekly, monthly, and yearly price updates on gas and electricity (day-ahead and year-ahead), coal, EUA carbon, UKA carbon, and Brent crude oil, plus key cost movements. Overall, markets experienced another volatile week. Geopolitical...