Sunday, 14 June 2026
UK power spot well below weekly mean; gas supply crunch & LNG disruption cap downside
Prices may ease slightlyCal-27 wholesale: £81.48/MWh
Energy prices are noticeably lower today than they have been over the past month, mainly because it is mild summer weather and we are using less electricity than usual — but the main thing pushing prices back up is that a gas pipeline from Norway has broken down and the Middle East conflict is making it harder to ship gas here by ship. We expect prices to stay a bit unsettled over the next week or two, with the risk that they climb if the pipeline stays offline or the situation in the Middle East does not improve.
What's affecting prices
- •Norwegian gas pipeline breakdown cutting supply to the UK
- •Middle East conflict blocking LNG tanker routes through the Strait of Hormuz
- •Mild June weather reducing electricity demand and pushing spot prices down
- •UK grid operator limiting how much electricity can be traded with Europe each hour
- •October energy price cap forecast to rise 13% — market expects higher costs ahead
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.