Electricity and Gas Price Trends – 29th September 2026 to 2nd October 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
30/09/2026
104.250
02/10/2026
107.500
MOVEMENT
+3.02%
TERM
2 Year
30/09/2026
75.325
02/10/2026
76.750
MOVEMENT
+1.86%

TERM
3 Year

30/09/2026
70.640

02/10/2026
71.315

MOVEMENT
+0.95%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

30/09/2026
126.750

02/10/2026
129.750

MOVEMENT
+2.31%

TERM
2 Year

30/09/2026
80.833

02/10/2026
82.417

MOVEMENT
+1.92%

TERM
3 Year

30/09/2026
73.333

02/10/2026
73.943

MOVEMENT
+0.82%
SUMMARY

NBP curve contracts firmed towards the end of the week, as reports of tanker attacks in the Persian Gulf eclipsed otherwise improved supply fundamentals.

According to the UKMTO and other maritime agencies, at least five commercial oil tankers have been struck by unknown projectiles in the Strait of Hormuz this week.

Iran has claimed responsibility for at least three of the incidents, citing transit protocol violations, specifically vessels attempting to traverse the vital waterway with transponders switched off, a practice known as travelling ‘dark’.

Gains of 4p/therm (0.14p/kWh), though significant, were likely limited by a massive surge in Norwegian gas imports across this week. Data from Gassco shows that flow nominations for Friday jumped to 68.2mcm, a near three-fold increase from just 18.3mcm on Monday.

Tracking gas higher, baseload power prices corrected higher on Thursday as the winter season got underway and a sharp turn in the generation mix added support. Wind output dropped from 47.9% of the stack to 25.8%, while gas-fired generation climbed from 23.0% to 40.0%, pushing renewables down from 61.1% to 43.7%. Nuclear supplied 13.6% of generation, with three of EDF’s eight reactors currently offline and fleet output at around 3.9 GW.

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 02/10/2025 to 02/10/2026

Overall the average price of Electricity has gone UP by 12.25%
Overall the average price of Gas has gone UP by 17.95%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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