Electricity and Gas Price Trends – 8th May 2026 to 15th May 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
08/05/2026
83.167
15/05/2026
85.500
MOVEMENT
+2.73%
TERM
2 Year
08/05/2026
65.565
15/05/2026
67.145
MOVEMENT
+2.35%

TERM
3 Year

08/05/2026
61.100

15/05/2026
63.410

MOVEMENT
+3.64%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

08/05/2026
93.667

15/05/2026
98.167

MOVEMENT
+4.58%

TERM
2 Year

08/05/2026
68.750

15/05/2026
69.000

MOVEMENT
+0.36%

TERM
3 Year

08/05/2026
64.095

15/05/2026
64.085

MOVEMENT
-0.02%
SUMMARY

Market prices continued to strengthen for the majority of the week, guided higher by stalling peace dialogue between the US and Iran.

The primary driver remains the continued restrictions in the Strait of Hormuz, choking approximately one-fifth of global LNG supply and tightening European availability.

Compounding this, Norwegian gas supply to the UK reduced as Kårstø maintenance hit output.

Near-term weather also supported the increases, with north-west Europe running 3.6°C below seasonal norms, sustaining demand at an unusual level for mid-May. EU storage remains at just 35.85%, adding further upward pressure.

Softer wind generation across the UK lifted residual demand and supported increases to near-term prices. The gas-power price link remains the dominant theme with gas still the marginal fuel and Middle East supply risk continuing to feed directly into power. Longer-dated contracts face a mixed outlook, with warmer summer forecasts potentially helping keep a cap on further increases.

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 15/05/2025 to 15/05/2026

Overall the average price of Electricity has gone DOWN by 7.14%
Overall the average price of Gas has gone DOWN by 10.92%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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