Electricity and Gas Price Trends – 16th October 2026 to 23rd 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
16/10/2026
127.000
23/10/2026
132.250
MOVEMENT
+3.97%
TERM
2 Year
16/10/2026
83.250
23/10/2026
87.250
MOVEMENT
+4.58%

TERM
3 Year

16/10/2026
76.615

23/10/2026
78.285

MOVEMENT
+2.13%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

16/10/2026
160.000

23/10/2026
172.000

MOVEMENT
+6.98%

TERM
2 Year

16/10/2026
91.750

23/10/2026
97.417

MOVEMENT
+5.82%

TERM
3 Year

16/10/2026
78.405

23/10/2026
80.565

MOVEMENT
+2.68%
SUMMARY

Prices continued to push higher during the past week reaching record highs amid reports of further issues in the Strait of Hormuz.

Iran claimed seven tankers were damaged in the Strait of Hormuz on Thursday, possibly the most in a single day since the war began, while the IRGC threatened US bases and Trump said there are no negotiations and that something will happen “fairly soon”.

The escalation dented diplomacy hopes and fed worries over LNG flows and Europe’s record-low seasonal storage. Reports of unplanned maintenance at the Troll and Åsgard fields across Thursday and Friday served as a secondary source of pressure.

Tracking the rally in gas, baseload power posted consecutive days of gains in the week.

With reneewable generation dipping mid-week, imports filled the gap, rising from 12.1% to 16.9% of supply. That reliance looks however more uncomfortable given delays in France, where EDF has pushed back the return of 2.6 GW at Cattenom and postponed the restart of its 1.5 GW Chooz 2 reactor.

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 23/10/2025 to 23/10/2026

Overall the average price of Electricity has gone UP by 24.51%
Overall the average price of Gas has gone UP by 33.80%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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