Electricity and Gas Price Trends – 31st July 2026 to 7th August 2026


Ingrid & Anders
Please find detailed below the latest weekly update on the wholesale electricity and gas relative in the UK.

WHAT HAPPENED TO PRICES LAST WEEK ?
ELECTRICITY WHOLESALE PRICE CHANGES (£/MWh)
TERM
1 Year
31/07/2026
97.333
07/08/2026
94.500
MOVEMENT
-3.00%
TERM
2 Year
31/07/2026
68.950
07/08/2026
68.125
MOVEMENT
-1.21%

TERM
3 Year

31/07/2026
62.250

07/08/2026
63.250

MOVEMENT
+1.58%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

31/07/2026
109.833

07/08/2026
107.583

MOVEMENT
-2.09%

TERM
2 Year

31/07/2026
72.000

07/08/2026
72.000

MOVEMENT
0.00%

TERM
3 Year

31/07/2026
66.840

07/08/2026
66.435

MOVEMENT
-0.61%
SUMMARY

The week was dominated by news of a joint Iranian-Oman negotiated deal to re-open the Strait of Hormuz.

Initial market optimism faded on Thursday following a report from Iran’s Fars news agency which published what it claimed was an official draft proposal that reportedly bans US and Israeli vessels from entering the strait, while requiring “hostile” nations to pay a 20% cargo-value toll.

Market participants interpreted these conditions on Friday as a sign that commercial shipping is unlikely to return to normal anytime soon, and prices spiked back up.

Further pressure was felt on Thursday as it emerged that unplanned infrastructure outages were experienced at Norway’s Åsgard field and the UK’s Rough storage facility.

Forunately, it was a much better week for renewable power which served as a price ceiling and limited upside potential particularly for prompt and near-dated contracts.

See previous editions of the weekly price trends update by clicking here.

We also have lots of useful news articles that will help you form a much more rounded view of the energy sector before you make a decision on your next energy contract.

Wholesale Price Change 07/08/2025 to 07/08/2026

Overall the average price of Electricity has gone DOWN by 4.62%
Overall the average price of Gas has gone DOWN by 4.96%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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