The UK Energy Market Brief
A free, plain-English read on the UK business energy market — wholesale and non-commodity prices, what's moving them, and what it means for contract renewals. Published every weekday morning.
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- Friday, 14 August 2026Prices rising sharply
UK power firm on Hormuz LNG fears; spot dips below weekly mean on mild mid-Aug demand
Energy prices are noticeably higher than normal right now, mostly because gas supply ships from the Middle East are being delayed by a standoff in a key shipping channel, pushing up the cost of the gas that UK power stations burn. We expect prices to stay elevated — and possibly rise further — over the next two weeks unless a deal is reached to reopen that shipping route.
- Thursday, 13 August 2026Prices rising sharply
UK power surges 12%+ above monthly norm — eclipse, heatwave & LNG fears collide
Energy prices are noticeably higher than usual right now, mainly because the UK had a heatwave with very little wind, a rare solar eclipse knocked out solar power for about two hours yesterday evening, and global gas supplies are tight because of ongoing tensions in the Middle East. Prices may ease slightly over the next week or two if cooler, windier weather arrives, but the risk of another jump is real if the Middle East situation does not improve before winter.
- Wednesday, 12 August 2026Prices rising sharply
Amber heat alert + Hartlepool outage spike spot to £140/MWh; curve stays firm
Energy prices are noticeably higher than usual right now, mainly because it is very hot across the UK this week — an official heat warning has been issued — which means people are using more electricity for cooling, and at the same time a power station has gone offline for maintenance, so there is less electricity being generated. We expect prices to ease back a little from the weekend onwards as the hot spell breaks and windier weather returns, but they are likely to stay above the normal summer level.
- Tuesday, 11 August 2026Prices rising sharply
UK power softens w-o-w but Hormuz LNG risk keeps gas-linked prices elevated
Energy prices are higher than they have been for most of the past year, mainly because fighting near a key shipping route in the Middle East is blocking gas tankers from reaching Europe, forcing the UK to use more expensive alternatives. Expect prices to stay elevated and potentially rise again over the next two weeks unless a peace deal opens that shipping route back up.
- Monday, 10 August 2026Prices broadly stable
UK power steady near spot; gas elevated on Hormuz/LNG supply crunch
Energy prices are noticeably higher than they were a year ago, mainly because a conflict in the Middle East has been disrupting gas supplies from the Persian Gulf, leaving Europe with less gas stored for winter than normal. Prices may ease a little if peace talks succeed, but expect them to stay high and sensitive to news for the next couple of weeks.
- Sunday, 9 August 2026Prices may ease slightly
UK power softening from July highs but heatwave & LNG tightness keep floor firm
Energy prices are still well above where they were a year ago, mainly because gas coming into Europe by ship has been disrupted by tensions in the Middle East, and a hot spell is on the way that will push up electricity demand across the country. Prices may ease a little day-to-day as the summer heat passes, but they are likely to stay high for the rest of the year unless gas supplies improve significantly.
- Saturday, 8 August 2026Prices rising sharply
UK power firmly bid on gas supply fears; solar keeping spot soft intraday
Energy prices are noticeably higher than they were a year ago, mainly because a conflict in the Middle East has disrupted the ships that carry gas to Europe, meaning there is less gas in storage than usual going into winter. Expect prices to stay elevated or drift a little higher over the next two to four weeks unless there is a breakthrough in the conflict or a spell of very windy weather.
- Friday, 7 August 2026Prices may ease slightly
UK power easing from July highs but gas stays elevated on Hormuz/storage fears
Energy prices are noticeably higher than usual right now, mainly because global gas supplies have been disrupted by tensions in the Middle East, leaving Europe — and the UK — scrambling to store enough gas before winter. Prices have started to come down slightly from last month's peak, but they are likely to stay high and could jump again quickly if diplomatic talks break down or the wind drops.
- Thursday, 6 August 2026Prices rising sharply
UK power elevated on Iran/Hormuz supply risk, nuclear outages & low wind
Energy prices are noticeably higher than normal right now, mainly because a conflict in the Middle East has blocked a major shipping route for gas tankers, making gas harder and more expensive to get hold of across Europe — and because several UK power stations are currently shut for repairs while the wind has been weak. We expect prices to stay high and a bit unpredictable over the next couple of weeks, unless there is a peace deal or the shipping route reopens.
- Wednesday, 5 August 2026Prices broadly stable
UK power eases below weekly mean; low wind & thin EU gas storage cap downside
Energy prices are a little lower today than they have been on average this past week, mainly because it is warm and calm weather means less power is being used for heating — but there is not much wind either, so less free electricity is being made from wind turbines. Over the next week or two, prices could nudge back up if the weather turns cooler or if gas supplies in Europe stay tight, so we would not expect big falls from here.
- Tuesday, 4 August 2026Prices may ease slightly
UK power eases with gas as Iran tensions cool, but storage deficit keeps curve elevated
Energy prices are higher than normal right now, mainly because gas supplies from the Middle East were badly disrupted through July — though prices dipped slightly this week after news that a conflict in the region may be moving toward talks. We expect prices to stay well above their usual summer levels for the next couple of weeks, as Europe has less gas stored than it should at this point in the year, and any fresh tensions could push prices back up quickly.
- Monday, 3 August 2026Prices rising sharply
UK power surges >12% above week-mean on Middle East gas supply shock
Energy prices are noticeably higher than normal right now — mainly because fighting in the Middle East has disrupted gas supplies to Europe, making the gas that powers many UK electricity stations more expensive. We expect prices to stay high or rise further over the next week or two unless the conflict calms down or more gas ships arrive in Europe.
- Sunday, 2 August 2026Prices rising sharply
UK power surges 16% above weekly mean as nuclear outages, tight EU gas storage and Middle East risk converge
Energy prices are noticeably higher than normal right now, mainly because several large UK power stations are unexpectedly offline at the same time as gas has become much more expensive globally due to tensions in the Middle East. We expect prices to stay elevated over the next week or two, though a cooler weather shift and some early signs of calmer gas markets could take a little heat out of the market.
- Saturday, 1 August 2026Prices rising sharply
UK power surges on Middle East gas disruption & below-par EU storage
Energy prices are significantly higher than normal right now, mainly because fighting in the Middle East has disrupted gas supplies to Europe, pushing up the cost of the gas used to generate much of Britain's electricity. We expect prices to stay elevated over the next couple of weeks unless the conflict eases or more gas ships arrive in Europe.
- Friday, 31 July 2026Prices rising sharply
UK power elevated on Middle East LNG squeeze; gas eases as Iran diplomacy revives
Energy prices are noticeably higher than normal right now, mainly because a conflict in the Middle East has disrupted gas shipments to Europe, pushing up the cost of gas that UK power stations burn to make electricity. Over the next week or two prices could ease slightly if peace talks succeed, but they are likely to stay well above normal unless gas supplies recover significantly.
- Thursday, 30 July 2026Prices may ease slightly
Gas sell-off eases prompt prices but tight nuclear & storage deficits cap downside
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.
- Wednesday, 29 July 2026Prices may ease slightly
Gas-led sell-off trims prompt, but tight supply stack keeps curve firm
Energy prices are higher than usual right now, mainly because several UK power stations are temporarily shut down at the same time as supplies of gas from the Middle East have been disrupted by conflict — though prices dipped slightly this week as tensions paused. Over the next week or two prices are likely to stay elevated and could jump again quickly if the Middle East situation worsens or the wind stays light.
- Tuesday, 28 July 2026Prices rising sharply
UK power softens post-heatwave but gas stay elevated on Middle East/storage fears
Energy prices are noticeably higher than usual right now, mainly because fighting in the Middle East has disrupted gas shipments to Europe, making gas much more expensive — and since gas-fired power stations set the price of electricity most of the time in the UK, electricity costs have gone up too. Prices may ease a little over the next couple of weeks if the conflict calms down, but they are likely to stay well above normal until Europe can refill its gas reserves ahead of winter.
- Monday, 27 July 2026Prices rising sharply
UK power stays elevated on Middle East LNG risk & tight storage; near-term bearish day
Energy prices are significantly higher than normal right now, mainly because fighting in the Middle East has reduced the amount of gas tankers reaching Europe, pushing up the cost of gas that powers much of UK electricity generation. We expect prices to stay high and possibly rise further over the next couple of weeks, especially if the situation overseas does not improve and as we head towards the colder winter months.
- Sunday, 26 July 2026Prices rising sharply
UK power surges to ~£133/MWh as Middle East LNG crisis drives gas +44% in July
Energy prices are significantly higher than normal right now, mainly because fighting in the Middle East has disrupted gas shipments to Europe, pushing up the cost of the gas that powers many UK electricity plants. We expect prices to stay high over the next couple of weeks unless tensions ease or the weather turns cooler and windier.
- Saturday, 25 July 2026Prices rising sharply
UK power sharply elevated on surging gas, heatwave demand & grid cable curbs
Energy prices are significantly higher than usual right now, mainly because fighting in the Middle East has reduced the amount of gas being shipped to Europe by sea, pushing gas prices — and therefore electricity prices — well above normal summer levels. Expect prices to stay high or climb further over the next one to two weeks, with some risk of a brief dip if the weather turns cooler or a deal is reached in the Middle East.
- Friday, 24 July 2026Prices rising sharply
UK power near recent highs — Hormuz LNG blockade and heatwave push gas sharply higher
Energy prices are significantly higher than normal right now, mainly because fighting in the Middle East has stopped gas tanker ships from reaching Europe, pushing up the cost of gas that powers much of the UK's electricity. We expect prices to stay high or push even higher over the next week or two unless there is a peace deal or more wind arrives to reduce how much gas power stations need to run.
- Thursday, 23 July 2026Prices rising sharply
UK power sharply above seasonal norm — Middle East LNG shock dominates
Energy prices are significantly higher than usual right now, mainly because fighting in the Middle East has disrupted the ships that carry gas to Europe, making gas — and therefore electricity — much more expensive. We expect prices to stay high and remain jumpy over the next couple of weeks, with any news about the conflict likely to push them up or down quickly.
- Wednesday, 22 July 2026Prices rising sharply
UK power surges to ~£136/MWh spot as Iran-US war premium drives gas to 3-month high
Energy prices are significantly higher than normal right now, mainly because fighting between the US and Iran in the Middle East is threatening gas supplies to Europe, pushing gas — and therefore electricity — prices sharply upward. We expect prices to stay elevated and potentially rise further over the next week or two unless the conflict de-escalates or more gas ships arrive in Europe.
- Tuesday, 21 July 2026Prices rising sharply
UK power stays sharply elevated; Middle East LNG risk and UK nuclear outages dominate
Energy prices are notably higher than usual right now, mainly because fighting in the Middle East is disrupting the ships that carry gas to Europe, pushing up the cost of gas and therefore electricity across the UK. We expect prices to stay high — and possibly rise further — over the next one to two weeks unless the situation in the Gulf calms down or more wind arrives.
- Monday, 20 July 2026Prices rising sharply
UK power firmly bid on surging gas, ME supply risk & third summer heatwave
Energy prices in the UK are significantly higher than usual right now, mainly because fighting in the Middle East has made it harder and more expensive for Europe to get hold of the gas it uses to generate electricity, and a third heatwave this summer is making everyone use more power at the same time. We expect prices to remain high and possibly go higher over the next couple of weeks unless the conflict eases or the hot weather breaks.
- Sunday, 19 July 2026Prices rising sharply
UK power near 30-day highs on Mideast LNG risk & heatwave demand
Energy prices are noticeably higher than normal right now, mainly because fighting in the Middle East is threatening the ships that bring gas to the UK, and a summer heatwave is pushing up the amount of electricity people are using. Prices are likely to stay elevated over the next couple of weeks unless the fighting eases or the hot weather breaks.
- Saturday, 18 July 2026Prices rising sharply
UK power sharply elevated on Middle East LNG risk, low wind & nuclear outages
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.
- Friday, 17 July 2026Prices rising sharply
UK power near 30-day highs; Middle East LNG risk and tight EU storage drive gains
Energy prices are noticeably higher than usual right now, mainly because fighting in the Middle East has disrupted gas supplies that Europe relies on to keep the lights on, and those higher gas costs are feeding directly into electricity bills. We expect prices to stay elevated — and possibly rise further — over the next week or two unless there is a sudden easing of tensions or a big jump in wind power across the UK.
- Thursday, 16 July 2026Prices rising sharply
UK power near 3-month highs as Hormuz LNG fears and nuclear outages bite
Energy prices are noticeably higher than normal right now, mainly because fighting in the Middle East is threatening the ships that carry gas to Europe, and several UK and French power stations are shut for repairs at the same time. We expect prices to stay high or push even higher over the next week or two unless the shipping situation calms down or more wind arrives.
- Wednesday, 15 July 2026Prices rising sharply
UK power near 30-day high as Hormuz blockade re-escalation lifts gas sharply
Energy prices are noticeably higher than they have been for most of the past month, mainly because tensions in the Middle East have flared up again and are threatening to disrupt gas shipments that Europe relies on — pushing gas prices up across the continent, which in turn pushes up electricity prices here in the UK. Prices could stay elevated or rise a little further over the next week or two, though they may ease back slightly if the situation calms down or if the spell of warm, sunny weather reduces heating demand.
- Tuesday, 14 July 2026Prices rising sharply
UK power firms on gas rally & low wind; spot ~£102/MWh, Win-26 near 30-day high
Energy prices are higher than usual right now, mainly because gas prices have been climbing for several days in a row and there has been very little wind or renewable power on the grid — so power stations burning gas have had to pick up the slack. Over the next week or two, prices are likely to stay elevated unless the wind picks up or global tensions ease.
- Monday, 13 July 2026Prices rising sharply
UK power elevated; 3rd summer margin alert as heatwave kills wind & France cuts nuclear
Energy prices are noticeably higher than usual right now, mainly because it has been very hot and still across the UK — wind turbines are barely turning and France has had to cut back its power stations due to the heat, so there is less electricity available just when more people are using fans and air conditioning. We expect prices to stay high or edge even higher over the next week or so until the weather breaks, which forecasters think could happen around 17 July.
- Sunday, 12 July 2026Prices rising sharply
UK power sharply elevated; Middle East LNG risk & storage deficit keep curve firm
Energy prices are noticeably higher than usual right now, mainly because fighting near the Persian Gulf has made it harder for ships carrying gas to reach Europe, pushing up the cost of gas that power stations need to run. We expect prices to stay high or even rise further over the next couple of weeks unless the conflict eases or the wind picks up significantly across the UK.
- Saturday, 11 July 2026Prices rising sharply
Sharp geopolitical spike: UK power/gas surge 8-9% w/w on Iran escalation & heatwave
Energy prices are notably higher than usual right now, mainly because fighting has flared up again in the Middle East, which worries markets that gas shipments could be disrupted, and a Europe-wide heatwave is pushing up electricity use for cooling at the same time. We expect prices to stay elevated and jumpy over the next couple of weeks — they could ease quickly if tensions cool, but could rise further if the conflict or the hot weather drags on.
- Friday, 10 July 2026Prices rising sharply
UK power surges on Middle East re-escalation, storage deficit & NW Europe heatwave
Energy prices are noticeably higher than usual right now, mainly because fighting has flared up again in the Middle East, which threatens the ships that carry gas to Europe, and Europe already has much less gas stored than it normally would at this time of year. Expect prices to stay elevated — and possibly rise further — over the next week or two unless the international situation calms down.
- Thursday, 9 July 2026Prices rising sharply
Gas surges 5%+ on Hormuz attack & NW Europe heatwave; UK spot at £104.73
Energy prices are noticeably higher than normal right now, mainly because fighting in the Middle East has disrupted the ships that carry gas to Europe, and a hot spell across Europe means more electricity is being used for cooling — leaving gas stores lower than usual for this time of year. Prices are likely to stay elevated over the next one to two weeks unless the weather cools quickly or the shipping situation calms down.
- Wednesday, 8 July 2026Prices rising sharply
UK power bullish: heatwave + nuclear outages + low EU storage lift curve
Energy prices are noticeably higher than usual right now, mainly because the UK and much of Europe are in the grip of a third heatwave this summer, several power stations are broken or shut for repairs, and Europe's gas stores are unusually low going into winter. We expect prices to stay elevated or edge slightly higher over the next week or two unless the heatwave breaks and wind picks up.
- Tuesday, 7 July 2026Prices rising sharply
UK power elevated post-heatwave; French nuclear & tight EU storage cap near-term upside
Energy prices are higher than usual right now, mainly because a big heatwave across Europe last week meant power stations — including nuclear ones in France — couldn't run at full speed, and there is less gas stored across Europe than normal due to disruption in the Middle East. Prices should ease a little as the hot weather passes, but could stay above normal for the next couple of weeks, especially if another warm spell arrives early next week as forecasters expect.
- Monday, 6 July 2026Prices edging higher
UK power nudging higher: gas rebound, low wind & tight EU storage dominate
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.
- Sunday, 5 July 2026Prices rising sharply
UK power sharply above weekly norm; Norwegian supply cut & low EU storage drive gains
Energy prices are noticeably higher than normal right now, mainly because a gas supply cut from Norway has reduced the amount of gas reaching the UK and Europe, and gas storage tanks across Europe are unusually low for this time of year. We expect prices to stay elevated for at least the next week or two, with some risk of further rises if European storage doesn't rebuild quickly or if tensions in the Middle East flare up again.
- Saturday, 4 July 2026Prices rising sharply
UK power ~10% above week-mean; gas tightness, Euro heat & nuclear outages dominate
Energy prices are noticeably higher than they have been over the past month, mainly because gas supplies from Norway have been cut for maintenance, European countries are using a lot of gas to cool their buildings during a heatwave, and several UK power stations are offline for repairs. Prices are likely to stay elevated or creep a little higher over the next one to two weeks unless the Norwegian gas flows return early or a change in the weather brings more wind to UK shores.
- Friday, 3 July 2026Prices may ease slightly
UK power softens on Iran diplomacy; heatwave demand & thin storage cap downside
Energy prices are higher than they were a year ago, mainly because of the conflict involving Iran, which has disrupted the world's gas supply routes and pushed up the price of gas that power stations need to run. Over the next week or two, prices may ease slightly if peace talks continue to progress, but are unlikely to fall back to normal anytime soon because Europe's gas stores are very low and another spell of hot weather is expected.
- Thursday, 2 July 2026Prices rising sharply
UK power sharply elevated on gas/wind squeeze; high-pressure suppresses renewables
Energy prices are noticeably higher than normal right now, mainly because there is less wind than usual across the UK and Europe (high pressure is blocking it) while gas supplies from Norway have tightened and Middle East tensions have kept gas expensive. We expect prices to stay above normal for at least the next week or two unless the wind picks up significantly or the gas supply situation eases.
- Wednesday, 1 July 2026Prices rising sharply
UK power surges ~25% above monthly norms on heatwave, French nuclear cuts & gas risk
Energy prices are significantly higher than normal right now — mainly because a record-breaking heatwave across Europe has pushed up electricity demand sharply, while French power stations have had to cut output because rivers are too hot to cool them, and ongoing tensions in the Middle East have kept gas supplies uncertain. Prices may ease a little if a ceasefire holds and the heat breaks, but expect them to stay well above normal for at least the next one to two weeks.
- Tuesday, 30 June 2026Prices may ease slightly
UK power easing on Hormuz progress but geopolitical risk & low EU storage cap upside
Energy prices are a little higher than they have been on average this month, mainly because a war in the Middle East earlier this year made it harder to ship gas to Europe, pushing prices up — but over the last few days prices have started to fall as peace talks have made some progress. Over the next couple of weeks prices could keep drifting down if those talks continue to go well, but they could jump back up quickly if the situation in the Middle East gets worse again.
- Monday, 29 June 2026Prices may ease slightly
UK power easing on geopolitical relief & summer demand lull; spot well below week avg
Energy prices are lower than they have been recently, mainly because a ceasefire deal between the US and Iran has calmed fears about gas supplies being cut off from the Middle East, and the warm summer weather means people are using less energy to heat their homes. Prices could start to creep back up as autumn approaches and heating demand returns, so if you are renewing a contract soon, now looks like a reasonable time to lock in.
- Sunday, 28 June 2026Prices may ease slightly
UK power easing as Iran ceasefire drains risk premium; storage deficit caps downside
Energy prices have been coming down over the past few weeks, mainly because talks between the US and Iran have reduced fears that gas supplies from the Middle East would be cut off, making gas cheaper across Europe. Prices are likely to keep drifting a little lower in the short term, but don't expect big falls — Europe's gas stores are unusually low for this time of year, which could push prices back up as winter approaches.
- Saturday, 27 June 2026Prices may ease slightly
UK power easing on US-Iran relief & heatwave demand drop; storage deficit caps downside
Energy prices are a bit lower than they have been this past week, mainly because a deal between the US and Iran has calmed fears about gas supplies being cut off in the Middle East, and the hot summer weather across Europe means people are not burning gas to heat their homes. Prices could ease a little further over the next couple of weeks, but they are unlikely to fall much more because Europe's gas storage tanks are unusually empty heading into winter and that keeps a floor under prices.
- Friday, 26 June 2026Prices may ease slightly
UK power sharply above weekly mean as heatwave demand eclipses easing gas prices
Energy prices are noticeably higher than they have been over the past month, mainly because Europe is in the middle of a heatwave — hot weather means more people use air conditioning, which pushes up demand for electricity at the same time as gas prices are falling due to a peace agreement in the Middle East. We expect prices to drift lower over the next couple of weeks as the hot spell passes and cheaper gas continues to flow into Europe.
- Thursday, 25 June 2026Prices may ease slightly
Heatwave lifts spot 35% above monthly norm; gas geopolitical premium fading fast
Energy prices are noticeably higher than usual right now, mainly because the UK and Europe are going through a heatwave — people and businesses are using a lot more electricity to cool down, and that pushes prices up sharply in the short term. Over the next week or two, prices are likely to ease back as the hot spell passes and the situation in the Middle East continues to calm down, though bills from July onwards will still be higher than they have been this spring.
- Wednesday, 24 June 2026Prices may ease slightly
UK power softens as US-Iran truce eases gas risk premium; storage deficit caps downside
Energy prices are a little lower than they have been over the past few weeks, mainly because fighting in the Middle East has eased and ships carrying gas are starting to move through a key waterway again, bringing prices down from their recent spike. However, gas storage across Europe is unusually low for this time of year, so prices are unlikely to fall much further and could rise again quickly if tensions flare up or the weather turns colder.
- Tuesday, 23 June 2026Prices may ease slightly
Spot power elevated on heat & low wind; gas curve easing sharply on US-Iran deal
Energy prices are higher than usual right now — the UK is in the middle of an extreme heatwave with very little wind, so power stations are having to work extra hard to keep the lights and air conditioning on. Over the next couple of weeks, prices should start to ease as the heatwave passes and because the main reason gas prices spiked earlier this year — a conflict in the Middle East that blocked key shipping routes — now looks like it is being resolved.
- Monday, 22 June 2026Prices may ease slightly
Spot spikes on Iran/LNG risk premium; gas eases 9% w/w as Hormuz deal takes hold
Energy prices are noticeably higher than normal right now — mainly because a conflict in the Middle East earlier this year disrupted gas supplies to Europe, and that pushed up the cost of making electricity in the UK. The good news is that a peace deal has been signed in the last few days and gas prices have already started falling, so we expect prices to ease back over the next couple of weeks as more gas reaches Europe.
- Sunday, 21 June 2026Prices falling
Gas prices ease sharply on US-Iran deal; power follows but residual premium lingers
Energy prices have dropped notably over the past week, mostly because an agreement between the US and Iran means big tankers carrying gas from the Middle East are starting to move again — which should bring more gas to Europe and the UK. We expect prices to stay lower than they were a few weeks ago, but a lot depends on whether that peace deal holds, so there is still a chance things could reverse if tensions flare back up.
- Saturday, 20 June 2026Prices may ease slightly
UK power easing on US-Iran deal hopes; structural LNG tightness & Jul cap rise cap downside
Energy prices have been coming down a little over the past week or two, mainly because the US and Iran reached a peace deal that could allow more gas tanker ships to travel through a key waterway in the Middle East, easing worries about gas running short. However, bills are still set to rise for most households on 1 July, and prices could climb again if the peace deal falls apart or European countries struggle to fill up their gas stores before winter.
- Friday, 19 June 2026Prices falling
UK power easing sharply on Iran deal hopes, but hot weather and Hammerfest outage cap downside
Energy prices have been falling this week — mainly because a peace deal between the US and Iran looks close, which could mean more gas ships are able to sail through the Middle East again and bring more gas to Europe. However, a hot spell arriving across the UK and Europe right now is pushing up demand for electricity (for cooling), and one major gas plant in Norway has broken down, so prices are unlikely to fall much further in the next week or two — expect them to stay roughly where they are, or drift slightly lower if the peace deal holds.
- Thursday, 18 June 2026Prices falling
UK power sliding on US-Iran ceasefire; spot £101 but still 30% above week mean
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.
- Wednesday, 17 June 2026Prices rising sharply
UK power elevated on Norwegian gas supply disruption & Hormuz LNG risk
Energy prices are noticeably higher than usual right now, mainly because a breakdown at a major gas facility in Norway has cut the amount of gas flowing to the UK, and ongoing tensions in the Middle East are keeping global gas supplies tight. We expect prices to stay above normal for at least the next week or two unless that Norwegian supply comes back online or there is a diplomatic breakthrough in the Middle East.
- Tuesday, 16 June 2026Prices rising sharply
UK power firm on Hormuz LNG squeeze & Norwegian outages; Q3 cap jumps 13%
Energy prices are higher than normal right now, mainly because gas supplies from Norway have been disrupted and a conflict in the Middle East has reduced the amount of gas shipped by tanker to Europe, pushing up the cost of the fuel that generates most of our electricity. Prices are likely to stay elevated over the next couple of weeks unless either the Norwegian supply comes back on or the situation in the Middle East improves significantly.
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