Thursday, 30 July 2026
Gas sell-off eases prompt prices but tight nuclear & storage deficits cap downside
Prices may ease slightly2027 wholesale: £84.48/MWh
Energy prices are a bit lower than they were last week, mainly because the US and Iran have started talking peace, which has calmed fears about gas supply being cut off in the Middle East. Prices could stay roughly where they are over the next couple of weeks, but any breakdown in those talks — or less wind than forecast — could push them back up fairly quickly.
What's affecting prices
- •Gas prices falling after US-Iran peace talks paused fighting in the Middle East
- •Several UK nuclear power stations still offline, reducing home-grown electricity supply
- •European gas storage significantly below last year's level ahead of winter
- •Shipping route for gas tankers from Qatar still largely blocked
- •UK weather turning cooler with possible windier conditions next week, reducing heating demand and boosting wind power
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.