Thursday, 18 June 2026
UK power sliding on US-Iran ceasefire; spot £101 but still 30% above week mean
Prices fallingCal-27 wholesale: £81.48/MWh
Energy prices are falling right now, mainly because the US and Iran have agreed a peace deal that should reopen a key shipping route for gas supplies — meaning more gas will reach Europe soon, pushing prices down. We expect prices to keep easing over the next week or two, though they could stabilise if the deal hits delays or the weather turns colder.
What's affecting prices
- •US-Iran peace deal announced — a key gas shipping route should reopen within 30 days
- •European gas storage well below last year's level, keeping a floor under longer-dated prices
- •Gas prices down sharply this week, pulling electricity prices lower
- •Changeable UK weather with some wind keeping power demand in check
- •QatarEnergy LNG supply disruption still running until mid-August
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.