Electricity and Gas Price Trends – 16th January 2026 to 23rd January 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
16/01/2026
77.000
23/01/2026
78.475
MOVEMENT
+1.88%
TERM
2 Year
16/01/2026
72.150
23/01/2026
71.675
MOVEMENT
-0.66%

TERM
3 Year

16/01/2026
71.625

23/01/2026
70.175

MOVEMENT
-2.07%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

16/01/2026
71.425

23/01/2026
75.625

MOVEMENT
+5.55%

TERM
2 Year

16/01/2026
62.375

23/01/2026
65.875

MOVEMENT
+5.31%

TERM
3 Year

16/01/2026
59.520

23/01/2026
60.955

MOVEMENT
+2.35%
SUMMARY

Wholesales prices remained volatile for the majority of the week, heightened as participants assessed fluctuations in near-term weather and demand forecasts and the implications on storage levels.

The latest 14-day forecast indicates that above average demand starting Sunday will persist until at least 5th February.

Gas storage withdrawal rates across the continent have eased slightly in recent days, but the level has been significantly depleted over the past few weeks during the cold snap.

Following a brief dip at the end of last week, the pace of storage withdrawals has ramped up across this week, with overall EU levels standing at 47.63% as of Wednesday 21st January.

Similar volatility was observed to near dated contracts in the power market but was helped by a good level of wind output which averaged a rate of 19.9GW’s and served as the largest source of power generation in Great Britain.

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 23/01/2025 to 23/01/2026

Overall the average price of Electricity has gone DOWN by 16.39%
Overall the average price of Gas has gone DOWN by 62.58%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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