UK's wholesale gas and electricity prices
The wholesale prices of gas and electricity fluctuate in tandem, affected by the same market factors, because of the UK's marginal pricing model.
Wholesale electricity is still +151% higher than pre-Covid levels (January 2020).
Graph shows wholesale price trends of electricity and gas, monthly, using day ahead contracts data (Ofgem). Day ahead contracts show the price evolution in the spot market. Latest data up to October 2024.
Gas prices are in British pence per therm; electricity prices are in GBP per megawatt hour.
Gas prices are in British pence per therm; electricity prices are in GBP per megawatt hour.
