The average wholesale electricity price in September 2025 in the United Kingdom is forecast to amount to*******British pounds per megawatt-hour, a decrease from the previous month. A record high was reached in August 2022 when day-ahead baseload contracts averaged ***** British pounds per megawatt-hour. Electricity price stabilization in Europe Electricity prices increased in 2024 compared to the previous year, when prices stabilized after the energy supply shortage. Price spikes were driven by the growing wholesale prices of natural gas and coal worldwide, which are among the main sources of power in the region.

… and in the United Kingdom? The United Kingdom was one of the countries with the highest electricity prices worldwide during the energy crisis. Since then, prices have been stabilizing, almost to pre-energy crisis levels. The use of nuclear, wind, and bioenergy for electricity generation has been increasing recently. The fuel types are an alternative to fossil fuels and are part of the country's power generation plans going into the future.

UK Electricity decreased 21.92 GBP/MWh or 21.40% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for the United Kingdom Electricity Price.

Daily data showing the System Price of electricity, and rolling seven-day average, in Great Britain. These are official statistics in development. Source: Elexon.

Residential electricity prices in the United Kingdom amounted to 0.35 U.S. dollars per kilowatt-hour in March 2024, a decrease in electricity prices for households in the UK from the previous year.

Household electricity prices in the United Kingdom averaged 22.03 euro cents per kilowatt-hour (kWh) in the first half of 2020. Over the past decade, household electricity prices have seen an overall increase, peaking at 22.10 euro cents per kWh in the second half of 2019. On average, the UK pays some of the highest electricity prices in Europe. Annual electricity billsIn 2019, the average annual domestic electricity bill for those with an electricity consumption of up to 3,800 kWh was 608 British pounds. In comparison, those with a consumption of 6,000 kWh paid 837 British pounds. Payment methods also affect electricity bills, with consumers who used prepayment paying the least. In 1970, the overall expenditure on electricity by all end users in the UK amounted to 1.5 billion British pounds. This increased significantly in the following decades and amounted to nearly 38 billion pounds by 2018.

Non-domestic consumers with consumption between *** megawatt-hours and ***** megawatt-hours tended to pay higher electricity prices than those users with consumption greater than ****** megawatt-hours. As of 2023, electricity prices for these consumers amounted to ***** pence per kilowatt-hour and ***** pence per kilowatt-hour, respectively. Generally, for both consumption rates, electricity prices presented a trend of growth with a peak in 2023.

The average annual domestic electricity bill in the United Kingdom saw an overall increase from 2014 to 2024 and boomed in 2023. In this period, households with an annual consumption of ***** kilowatt-hours saw bills rise from *** to ***** British pounds, including value-added tax. The household expenditure on electricity in the UK amounted to approximately **** billion current British pounds in 2023. Direct debit payments consistently cheaper In the period under consideration, the annual bill for an electricity consumption of ***** kilowatt-hours was consistently more expensive for consumers using standard credit as a method of payment, averaging ***** real British pounds in 2024. From 2016 onwards, consumers using the prepayment method paid less than standard credit consumers and, in 2022, their bill was the least expensive, at *** real British pounds. Electricity prices on the rise Household electricity prices in the UK have doubled in the past decade for both consumer groups. Despite the UK government setting a tariff cap to protect consumers, the UK’s power market was greatly impacted by the global energy crisis. In August 2022, electricity prices in Great Britain peaked at *** British pounds per megawatt-hour, over four times the price compared to August the following year.

Ireland, Italy, and Germany had some of the highest household electricity prices worldwide, as of March 2025. At the time, Irish households were charged around 0.45 U.S. dollars per kilowatt-hour, while in Italy, the price stood at 0.43 U.S. dollars per kilowatt-hour. By comparison, in Russia, residents paid almost 10 times less. What is behind electricity prices? Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion of residential end-user electricity prices. Reliance on fossil fuel imports Meanwhile, thanks to their great crude oil and natural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations.

The average net selling value of electricity used by the commercial sector in the United Kingdom (UK) came to over 20 pence per kilowatt-hour sold in 2022. The average net selling value of electricity more than doubled in the period in consideration, from 10.11 pence per kilowatt-hour of electricity sold in 2010.

Residential electricity prices in the United Kingdom amounted to 0.35 U.S. dollars per kilowatt-hour in March 2024, a decrease in electricity prices for households in the UK from the previous year.

Graph and download economic data for Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for United Kingdom (CPGREN01GBM657N) from Feb 1970 to Nov 2023 about fuels, electricity, energy, gas, United Kingdom, CPI, price index, indexes, and price.

This statistic shows the Consumer Price Index (CPI) for electricity in the United Kingdom (UK) as an annual average from 2008 to 2023, where the year 2015 equals 100. In 2023 the annual average price index value of electricity was measured at *****, the highest recorded value during the period in display.

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In 2024, the annual average consumer price index of electricity, gas and other fuels in the United Kingdom was measured at *****. This was a significant decrease from ***** the year prior. The base year was 2015, equaling 100. The consumer price of natural gas also decreased that year.