Electricity and Gas Price Trends – 17th July 2026 to 24th July 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
17/07/2026
94.417
24/07/2026
101.417
MOVEMENT
+6.90%
TERM
2 Year
17/07/2026
66.025
24/07/2026
70.315
MOVEMENT
+6.10%

TERM
3 Year

17/07/2026
61.570

24/07/2026
63.520

MOVEMENT
+3.07%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

17/07/2026
109.000

24/07/2026
116.583

MOVEMENT
+6.50%

TERM
2 Year

17/07/2026
71.000

24/07/2026
73.500

MOVEMENT
+3.40%

TERM
3 Year

17/07/2026
63.580

24/07/2026
65.695

MOVEMENT
+3.22%
SUMMARY

Prices increased at the NBP all week as Red Sea supply fears resurfaced, threatening another vital global waterway.

Reports emerged on Thursday that two vessels had been struck in the Red Sea. The Yemeni Houthis claimed responsibility for the attacks, which came after an embargo on Saudi tankers was declared earlier in the week.

Several vessels are understood to have abruptly diverted course in order to avoid the Strait of Bab el-Mandeb, which acts as the southern gate to the Red Sea and the Suez Canal. With both Hormuz and now Bab el-Mandeb seeing a significant reduction in traffic, the outlook for global markets looks fairly uncertain, for the short-term at least.

On the power front, baseload power prices continued to mirror gas. Though we have seen less gas-fired (CCGT) power demand so far this week, power imports have been persistently high, accounting for around a quarter of supply.

The system operator NESO has published SO-SO warnings on its portal across much of the past couple of weeks, notifying participants of exceptionally high prices in peak periods. SO-SO trades are effectively a short-notice request to neighbouring countries for exports to the British grid for balancing purposes and therefore they carry a sharp premium.

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 24/07/2025 to 24/07/2026

Overall the average price of Electricity has gone UP by 2.53%
Overall the average price of Gas has gone UP by 2.30%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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