Tuesday, 25 August 2026
UK power firmly bid as NBP hits 164.85p and EU storage sinks to record low 62%
Prices rising sharply2027 wholesale: £84.48/MWh
Energy prices are noticeably higher than normal right now, mainly because gas is very expensive across Europe — supply from the Middle East has been disrupted, storage tanks are unusually low ahead of winter, and some UK power stations have been offline for maintenance. Prices are likely to stay elevated or move even higher over the next few weeks as the heating season approaches and these supply problems remain unresolved.
What's affecting prices
- •Gas prices in Europe at their highest since early 2023, up roughly double from a year ago
- •Middle East shipping route disruption cutting LNG supplies to Europe
- •European gas storage tanks at their lowest level for this time of year on record
- •Two UK nuclear power stations offline for maintenance at the same time
- •UK heavily reliant on electricity imports from Europe, where prices are also rising
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.