Saturday, 18 July 2026
UK power sharply elevated on Middle East LNG risk, low wind & nuclear outages
Prices rising sharply2027 wholesale: £84.48/MWh
Energy prices are noticeably higher than usual right now, mainly because tensions in the Middle East are threatening the supply of gas shipped in by sea from the Gulf region, and several UK power stations are currently offline for repairs while there has been less wind than normal. Prices are likely to stay high or push even higher over the next week or two unless the situation in the Middle East calms down or wind picks up significantly.
What's affecting prices
- •US military strikes on Iran threatening gas shipments from the Gulf
- •Several UK power stations offline for maintenance at the same time
- •Less wind than normal expected through mid-July
- •European gas storage well below last year's level — countries need to buy more gas
- •Asian buyers competing with Europe for available gas tanker cargoes
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.