Electricity and Gas Price Trends – 23rd January 2026 to 30th 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
23/01/2026
78.475
30/01/2026
79.300
MOVEMENT
+1.04%
TERM
2 Year
23/01/2026
71.675
30/01/2026
70.900
MOVEMENT
-1.09%

TERM
3 Year

23/01/2026
70.175

30/01/2026
69.250

MOVEMENT
-1.34%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

23/01/2026
75.625

30/01/2026
78.750

MOVEMENT
+3.97%

TERM
2 Year

23/01/2026
65.875

30/01/2026
65.875

MOVEMENT
0.00%

TERM
3 Year

23/01/2026
60.955

30/01/2026
57.765

MOVEMENT
-5.52%
SUMMARY

Wholesales prices continued to remain volatile for the majority of the week at the NBP with the Summer-26 front-season price going up to its highest level this year and its strongest settlement since 4th November 2025.

Forecasts of above-average system demand from 7th February, aligned with relatively low storage levels on the continent fed risk premiums, with the supply and demand balance still tight for the time being.

Bullishness on the US Henry Hub also reinforced LNG import costs, with the Feb-26 contract closing at a more than 30-year high on Thursday amid similar supply and demand concerns in the US. This resulted in a tug of war between US consumption and European importers.

Baseload power prices also saw material gains, tracking moves on the NBP gas market.

Wind generation saw a substantial recovery towards the end of the week but had limited impact on gas-fired power demand over the same period amid falling imports from neighbouring countries coupled with an overall increase in system demand.

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 30/01/2025 to 30/01/2026

Overall the average price of Electricity has gone DOWN by 23.60%
Overall the average price of Gas has gone DOWN by 66.03%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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