Monday, 6 July 2026
UK power nudging higher: gas rebound, low wind & tight EU storage dominate
Prices edging higher2027 wholesale: £81.48/MWh
Energy prices are a little higher than they were a month ago, mainly because gas has become more expensive again — caused by Middle East tensions, low gas stocks across Europe, and a summer heatwave pushing up demand for air conditioning on the continent. Over the next week or two, prices are likely to stay firm or edge slightly higher unless winds pick up significantly or gas supply concerns ease.
What's affecting prices
- •Gas prices rising again in Europe after weeks of falling — Middle East supply fears not fully resolved
- •Gas storage across Europe well below normal for this time of year (roughly 48% vs ~61% average)
- •Summer heatwave across UK and Europe pushing up demand for cooling, using more gas for power
- •Light winds expected to continue across the UK until mid-July, meaning less free wind electricity
- •Carbon permit costs edging up ahead of a key UK–EU policy summit on 13 July
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.