Electricity prices in the UK bottomed below GBP 150 per megawatt hour, close to levels not seen since September 2021, after unseasonably warm weather across the UK and Europe in recent months curbed demand and eased the stress of the country's energy systems. On top of that, the UK's ample energy supplies and falling natural gas prices were also crucial drivers for lower power prices, while households and businesses have been cutting their energy usage after a warning from National Grid in October about supply shortages in case of a severe winter. On the policy side, the UK pledged about £60 billion in energy-bill aid for households and businesses until April 2023.

Electricity Price in the United Kingdom averaged 49.37 GBP/MWh from 2001 until 2022, reaching an all time high of 782.48 GBP/MWh in September of 2021 and a record low of 5.34 GBP/MWh in April of 2020. This page includes a chart with historical data for the United Kingdom Electricity Price. United Kingdom Electricity Price - data, forecasts, historical chart - was last updated on March of 2023.

Electricity Price in the United Kingdom is expected to be 134.12 GBP/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Electricity Price is projected to trend around 66.69 GBP/MWh in 2024 and 50.43 GBP/MWh in 2025, according to our econometric models.

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United Kingdom Electricity Price

Price Day Month Year
UK Electricity 111.08 5.99 5.70% -19.21% -53.01%
Germany Electricity 53.12 -21.59 -28.90% -40.51% -78.26%
France Electricity 196.02 10.38 5.59% 12.33% -2.27%
Spain Electricity 119.34 0 0% -15.10% -43.82%
Italy Electricity 132.74 -1.15 -0.86% -15.10% -44.37%

United Kingdom Electricity Price
Electricity prices displayed in Trading Economics are current spot benchmarks offered by sellers to buyers priced in megawatts per hour (MWh) in the local currency. Our electricity prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
167.81 167.81 782.48 5.34 2013 - 2022 GBP/MWh Daily