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 – 29 June 2026

Headlines – UK Wholesale Gas Prices and Wholesale Electricity Prices

Day-ahead gas fell 4.5% to 98.14p/th, primarily due to the increased confidence in global markets of the Strait of Hormuz remaining open, improving global gas and LNG supply. Further short-term losses were pegged back by heatwave conditions across Europe and growing demand for European gas storage injections over the summer period, in preparation for winter withdrawal. Day-ahead power rose 13.0% to £110.42/MWh, amid record heatwave conditions across GB for the week, with record high temperatures strongly boosting cooling demand, amid several GB gas-fired power stations experiencing heat-related deratings, tightening system margins, requiring the NESO to issue an Electricity Margin Notice (EMN) on several occasions to procure emergency generation to manage elevated demand. July 26 gas was down 3.4% at 98.05p/th, and August 26 gas decreased 4.0% at 97.70p/th. All seasonal gas contracts declined last week, down by 3.2% on average, while both winter 26 and summer 27 gas dropped 4.2% and 3.6% respectively, subsiding to 102.78p/th and 78.35p/th. All seasonal power contracts declined last week, down on average by 2.9%, as winter 26 power decreased 3.2% to £94.90/MWh, while summer 27 fell 3.8% to £74.58/MWh.

Baseload wholesale electricity price

Forward curve comparison

Day-ahead power rose 13.0% to £110.42/MWh, following record breaking heatwave conditions across the week, strongly boosting cooling demand across GB.
July 26 power slipped 4.1% at £91.00/MWh and August 26 power decreased 2.7% to £89.00/MWh.

Annual October contract

Q326 power moved 3.4% lower to £90.38/MWh.
The annual October 26 contract lost 3.4% to £84.74/MWh, 16.7% higher than the same time last year (£72.63/MWh).

Peak wholesale electricity price

Forward curve comparison

Day-ahead peak power was down 12.3% to £99.95/MWh, opposing its baseload counterpart.
July 26 peak power declined 3.2% at £91.00/MWh, and August 26 peak power decreased 1.9% to £89.50/MWh.

Annual October contract

The annual October 26 peak power rose 1.3% to £93.00/MWh.
This is 1.6% lower than the same time last year (94.50/MWh).

Seasonal power prices

Seasonal baseload power contracts

All seasonal power contracts declined last week, down on average by 2.9%.
Winter 26 power decreased 3.2% to £94.90/MWh, while summer 27 fell 3.8% to £74.58/MWh.

Seasonal peak power curve

Most seasonal peak power contracts declined last week, down 1.5% on average.
Winter 26 gas increased 0.7% to £110.75/MWh, while summer 27 peak power dropped 3.4% to £75.60/MWh.

Commodity price movements

Oil and coal

Brent crude oil continued its downward trend last week, dropping 6.8% to $74.79/bl, seeing a return to its pre-war pricing range. Oil prices decreased as supply concerns eased after reports that restrictions on Iranian oil exports had been lifted and the US naval blockade was ended following talks between the United States and Iran
Market sentiment improved after Oman said it was coordinating with the International Maritime Organization (IMO) on the option of establishing a temporary maritime corridor open to all vessels, according to a statement by the country’s Ministry of Transport.
Tanker movements through the strait have shown signs of recovery following the peace agreement, with 70 commercial vessels transiting the waterway on June 24, the highest number since 28 February.
Shipping activity through the Strait of Hormuz and broader geopolitical developments in the Middle East are set to remain the core drivers of oil price in the short-term.

Carbon (UK and EU ETS)

The EU ETS carbon prices saw gains, while the UK ETS registered losses. UK ETS prices decreased by 3.3% to average £57.56/t, with the EU ETS rising 1.1% to €80.86/t.
EU carbon prices were supported by stronger power demand as the European heatwave boosted cooling demand, paired with low wind generation outturn, resulting in stronger utilisation of fossil fuelled generation and higher demand for emissions allowances.
Opposing this, UK ETS prices eased as lower forward gas and power prices reduced expectations for fuelled generation and the associated carbon demand.
The UK ETS also continues to trade at a strong discount to its EU equivalent, reflecting weaker compliance demand and uncertainty regarding future UK ETS policy reform and introduction of a Carbon Boarder Alignment Mechanism (CBAM).
Looking ahead, the UK ETS outlook is bearish, as reduced compliance demand is expected to keep prices lower.

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	19 Jun 26	102.75	94.29	97.71	87.75	112.60	80.58	60.59	80.34
Two weeks ago	12 Jun 26	114.66	100.73	78.42	88.25	121.00	77.35	56.20	86.99
Four weeks ago	22 May 26	117.00	102.54	106.30	88.25	126.45	76.90	53.78	103.48
Last year	20 Jun 25	96.83	86.25	41.95	76.93	107.00	73.05	50.94	76.50
Year-on-year% change		6.1%	9.3%	132.9%	14.1%	5.2%	10.3%	18.9%	5.0%
12-month high		160.00	128.65	136.00	97.67	137.00	92.05	72.95	119.00
12-month low		66.90	63.35	18.03	68.48	89.70	63.60	34.75	58.80

Analysis provided by: Cornwall Insight

UK Wholesale Energy Prices – 22 June 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. Day-ahead gas fell 10.4% to 102.75p/th, as...