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 was level at 111.40p/th, following...
Read MoreGet 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:
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UK Wholesale Gas & Electricity Prices – 11 May 2026
Headlines – UK Wholesale Gas Prices and Wholesale Electricity Prices
Day-ahead gas fell slightly to 109.50p/th, due to milder temperatures and with the risk factor of Middle Eastern conflict continuing to drive prices. European gas storage levels are subdued, sitting below the five-year average, with gas flow restricted from the UKCS and the Norwegian Continental Shelf due to outages, which may place bullish pressure on gas prices in the week ahead. Day-ahead power fell 3.7% to £103.00/MWh, amid increased optimism towards week-end that a peace deal between the US and Iran would be achieved. However, unplanned nuclear outages acted to decrease nuclear availability to 73% from 91%, limiting stronger downside across day-ahead prices as gas-fired generation was relied upon. June 26 gas was down 2.8% at 107.35p/th, and July 26 gas decreased 3.2% to 106.18p/th. Most seasonal gas contracts registered losses last week, down by 1.7% on average. Winter 26 gas decreased 3.1% to 110.03p/th, while summer 27 gas fell 1.6% to 83.75p/th. Most seasonal power contracts registered losses last week, down by 1.2% on average. Winter 26 power decreased 3.1% to 94.50p/th, as winter 26 power fell 3.1% to £94.50/MWh, while summer 27 remained at £74.75/MWh.
Baseload wholesale electricity price
Forward curve comparison
- Day-ahead power fell 3.7% to £103.00/MWh, remaining stable due to the consistent renewable generation and optimism surrounding a peace deal between the US and Iran increased.
- June 26 power slipped 0.9% to £91.93/MWh and July 26 power decreased 1.9% to £90.00/MWh.
Annual October contract
- Q326 power moved 2.2% lower to £91.00/MWh.
- The annual October 26 contract lost 1.7% to £84.63/MWh, 4.8% higher than the same time last year (£80.75/MWh).
Peak wholesale electricity price
Forward curve comparison
- Day-ahead peak power was down 5.9% to £96.00/MWh, following its baseload counterpart.
- June 26 peak power declined 0.3% to £92.25/MWh, and July 26 peak power decreased 1.1% to £90.00/MWh.
Annual October contract
- The annual October 26 peak power contract rose 0.5% to £93.67/MWh
- This is 3.8% lower than the same time last year (£90.25/MWh).
Seasonal power prices
Seasonal baseload power contracts
- Most seasonal power contracts declined last week, down on average by 1.7%.
- Winter 26 power decreased 3.1% to £94.50/MWh, while summer 27 remained at £74.75/MWh.
Seasonal peak power curve
- Most seasonal peak power contracts boosted last week, up 0.7% on average.
- However, winter 26 peak power dropped 0.9% to £112.00/MWh, while summer 26 gained 2.4% to £75.75/MWh.
Commodity price movements
Oil and coal
- Brent crude oil prices saw a decline across the week, driven by growing optimism surrounding a final agreement between the US and Iran after US President Donald Trump announced on 5 May that the US military would pause “Project Freedom”.
- This development eased tensions stemming from the Strait of Hormuz in the region, while raising expectations of diplomatic progress toward ending the war between the US and Israel, and Iran.
- However, stronger losses were limited as uncertainty surrounding energy flows through the Strait of Hormuz and declining US crude inventories outweighed optimism over a possible agreement between the US and Iran.
- Iranian naval forces allegedly attacked three US warships in the Straight of Hormuz, while the US military reportedly carried out airstrikes targeting Iran’s Qeshm Port and Bandar Abbas, increasing concerns of further conflict between the countries.
- This week, volatility is expected as, on 11 May, President Donald Trump said Iran’s response to US proposals to end the war was “totally unacceptable.
Carbon (UK and EU ETS)
- Across the EU ETS, prices remained relatively level week-on-week, reflecting trader sentiment regarding the risk in the Middle East, oil market volatility, and the implications of a near-term ETS reform path. As such, the market continues to trade cautiously, resulting in the small increases seen over the week.
- Moreover, the upcoming ETS review in Q326 is expected to add to the existing scheme rather than significantly deviate or change how the scheme functions, resulting in a calmer outlook for the scheme moving forward.
- The Commission’s publication of a first CBAM certificate price at €75.36t for Q126 provides a key psychological baseline reference price for carbon costs on imports in iron and steel, cement, aluminium, fertilisers, electricity, and hydrogen.
- Across the week ahead, it is expected that carbon prices will see an increase given the expectation of cooler weather conditions, and reduced wind generation rates across GB.
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 | 8 May 26 | 109.50 | 96.89 | 103.00 | 84.63 | 111.45 | 75.05 | 50.23 | 101.57 |
| Two weeks ago | 1 May 26 | 111.40 | 99.38 | 107.00 | 86.13 | 111.75 | 73.87 | 49.80 | 108.10 |
| Four weeks ago | 10 Apr 26 | 110.79 | 96.44 | 106.75 | 80.75 | 104.50 | 72.82 | 43.12 | 96.90 |
| Last year | 9 May 25 | 74.73 | 79.95 | 83.13 | 72.50 | 97.45 | 70.35 | 51.49 | 63.25 |
| Year-on-year% change | 46.5% | 21.2% | 23.9% | 16.7% | 14.4% | 6.7% | -2.4% | 60.6% | |
| 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 – 27 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, a bearish trend was seen across...
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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...
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UK Wholesale Energy Prices – 20 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, a bearish trend was seen across...
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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...
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UK Wholesale Energy Prices – 30 March 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. All power and gas contracts fell last...
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