Wholesale electricity prices in the European Union (EU) increased in 2024 after recovering from the global energy crisis in 2023. This was the result of a myriad of factors, including increased demand in the “post-pandemic” economic recovery, a rise in natural gas and coal prices, and a decline in renewable power generation due to low wind speeds and drought. Nuclear power's critical role In 2023, nuclear and wind were among the leading sources of electricity generation in the EU, accounting for more than one-third of the output. Nuclear energy continues to play a crucial role in the European Union's electricity mix, generating approximately 619 terawatt-hours in 2023, which accounted for about 20 percent of the region's power production. However, the future of nuclear power in Europe is uncertain, with some countries like Germany phasing out their nuclear plants while others maintain their reliance on this energy source. The varied approaches to nuclear power across EU member states contribute to the differences in electricity prices and supply stability throughout the region.

Renewable energy's growing impact As Europe strives to decarbonize its energy sector, renewable sources are gaining prominence. Wind power in Europe, in particular, has seen significant growth, with installed capacity in Europe reaching 257.1 gigawatt hours in 2023. This expansion of renewable energy infrastructure is gradually reshaping the electricity market, potentially leading to more stable prices in the long term. However, the intermittent nature of some renewable sources, such as wind and solar, can still contribute to price fluctuations, especially during periods of low output.

In February 2025, electricity prices in the United Kingdom amounted to 143.37 British pounds per megawatt-hour, an increase on the previous month. A record high was reached in August 2022 when day-ahead baseload contracts averaged 363.7 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.

Finland Wholesale Price Index: Electricity, Gas and Water Supply data was reported at 217.200 2000=100 in Dec 2011. This records a decrease from the previous number of 222.600 2000=100 for Nov 2011. Finland Wholesale Price Index: Electricity, Gas and Water Supply data is updated monthly, averaging 138.350 2000=100 from Jan 2000 (Median) to Dec 2011, with 144 observations. The data reached an all-time high of 240.900 2000=100 in Feb 2011 and a record low of 98.700 2000=100 in Apr 2000. Finland Wholesale Price Index: Electricity, Gas and Water Supply data remains active status in CEIC and is reported by Statistics Finland. The data is categorized under Global Database’s Finland – Table FI.I022: Wholesale Price Index: 2000=100.

Wholesale electricity prices in the United Kingdom hit a record-high in 2022, reaching 21.7 British pence per kilowatt-hour that year. Projections indicate that prices are bound to decrease steadily in the next few years, falling under five pence per kilowatt-hour by 2030.

Germany's electricity prices have experienced an increase in the latter half of 2024 and the beginning of 2025, reaching an average of 140.42 euros per megawatt-hour in February 2025. This marks a notable decrease from the record high of over 469 euros per megawatt-hour in August 2022, yet remains above pre-pandemic levels. The ongoing volatility in energy prices continues to impact German households and businesses, reflecting broader trends across Europe's energy landscape. Electricity price recovery German electricity prices began recovering back to pre-energy crisis levels in 2024, a period driven by a complex interplay of factors, including increased heating demand, reduced wind power generation, and water scarcity affecting hydropower production. The rise in natural gas and coal prices, exacerbated by the economic recovery post-COVID-19 and the Ukraine conflict, further contributed to the spike. Despite Germany's progress in renewable energy sources, with over 50 percent of gross electricity generated from renewable sources in 2023, the country still relies heavily on fossil fuels. Coal and natural gas accounted for approximately 40 percent of the energy mix, making Germany vulnerable to fluctuations in global fuel prices. Impact on consumers and future outlook The volatility in electricity prices has directly impacted German consumers. As of April 1, 2024, households with basic supplier contracts were paying around 46 cents per kilowatt-hour, making it the most expensive option compared to other providers or special contracts. The breakdown of household electricity prices in 2023 showed that supply and margin, along with energy procurement, constituted the largest controllable components, amounting to 40.6 and 11.6 euro cents per kilowatt-hour, respectively. While prices have decreased since the 2022 peak, they remain higher than pre-crisis levels, underscoring the ongoing challenges in Germany's energy sector as it continues its transition towards renewable sources.

UK Gas decreased 26.27 GBp/Thm or 20.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on March of 2025.

UK Electricity decreased 15.90 GBP/MWh or 15.52% 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.

Energy prices on the markets are an important indicator of the current market and supply situation in Europe and Switzerland. Supply (production) is combined here with demand (consumption) and ultimately results in a price for a specific energy product. There are markets for different products. The spot markets give short-term signals from the market: the "Day Ahead" market indicates the wholesale price for the following day. The "Base" product prices indicate the arithmetic mean of the prices for a delivery in the following 24 hours. In intraday trading, energy is bought and sold for delivery on the same day. This data collection provides information on various energy sources. These include electricity (power), gas, heating oil, diesel and petrol. Different data are used for this purpose. For electricity and gas, data from the stock exchanges are used. In contrast to electricity prices, the data on gas prices are referenced to a base year, as licensing issues still need to be clarified. Other price data is obtained from the Federal Statistical Office. However, the prices for electricity and gas do not directly result in the end consumer price that private and commercial customers pay to their local energy supply company. These end-customer prices depend, among other things, on the procurement strategy (long-term purchases or short-term purchases on the market) of the local energy supply company. In the case of electricity, the end-user price also depends on the share of electricity produced in the utility's own power plants, the quality of the electricity (renewable or not), the grid costs and levies. The national consumer price index (CPI) is decisive for end customer prices. It measures the price development (inflation) of goods and services that are important for private households (basket of goods). It shows by how much consumer goods have become more expensive compared to the previous month, the previous year or any other earlier point in time. The index is based on December 2020. The price development is measured on the basis of the basket of goods, which also includes the most important energy sources - i.e. also electricity. The calculation methodology is managed by the Federal Statistical Office.

Natural gas prices are the highest in the residential sector. In 2023, U.S. households paid an all time high average of 15.2 U.S. dollars per 1,000 cubic feet. Commercial natural gas costs were second-highest, while prices in the electric power sector were the lowest, at around four U.S. dollars on average. Prices for the industrial and electric power customers tend to be close to the wholesale electricity price. All sectors saw a year-on-year increase in natural gas prices in 2022 due to the decline in U.S. natural gas production in the first quarter of 2022, which resulted in high withdrawals of natural gas from storage and an increase in average natural gas prices. The growing natural gas market In recent years, the average natural gas prices for all sectors have been increasing in the United States. In 2022, the residential sector witnessed an increase in natural gas prices higher than 2008, while natural gas prices for other sectors were still lower despite increases in average natural gas prices for those sectors. Meanwhile, consumption of natural gas has increased more than any other fuel type following the 2008 Recession. Petroleum consumption has been more variable, and use of coal has significantly decreased. The price of coal and crude oil had already been increasing since the early 2000s, and was further exacerbated by the financial crisis. Around the same time, the cost of natural gas dropped significantly, making it a more viable economic alternative compared to other fossil fuels. This decrease was in part the result of drastically increased production of shale gas as a result of hydraulic fracturing and other techniques.

Germany Electricity decreased 21.39 EUR/MWh or 18.48% 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 Germany Electricity Price.

The electricity delivery process has experienced a major shift in recent years, driven by a push to reduce emissions. Governments across Europe are actively moving away from conventional sources of electricity generation, leading to a decline in the continent's dependency on fossil fuels. In 2022, nearly 40% of electricity generated in the EU came from renewable sources, compared with 25% in 2012. The rise of renewables has spurred an influx of renewable generators and necessitated increased investment in electricity networks. This has lifted revenue for transmission and distribution network operators. Revenue is forecast to rise at a compound annual rate of 7.1% over the five years through 2024, reaching €3.2 billion. Falling wholesale prices and a reduction in overall electricity consumption spurred a drop in revenue during the pandemic. Excess demand for natural gas as economies loosened pandemic-related restrictions spurred a strong rebound in wholesale electricity prices in 2021, translating to a jump in revenue. Wholesale prices recorded a renewed spike following Russia’s invasion of Ukraine, spurring a surge in revenue generated by electricity producers and suppliers. Renewable generators were able to rake in extra profits from electricity sold to wholesale markets at inflated prices, counterbalancing a significant rise in costs for fossil fuel generators and electricity suppliers. Revenue is forecast to decline by 8.6% in 2024 as wholesale prices continue to decline from record highs and electricity consumption remains subdued. Revenue is forecast to increase at a compound annual rate of 0.5% over the five years through 2029 to €3.2 billion. The revised Renewable Energy Directive of the EU has set a goal for 69% of electricity to be generated from renewables by 2030. Electricity generators will continue expanding their renewables capacity, while investment in upgrading the electricity network to accommodate the rapid shift to renewables will boost income for transmission and distribution network operators. Rising renewable electricity generation will place downward pressure on wholesale prices, while a long-term decline in electricity consumption in advanced economies will weigh on revenue.

Kuwait Wholesale Price Index: Electricity, Gas, Steam and Water data was reported at 100.000 2007=100 in Jun 2018. This stayed constant from the previous number of 100.000 2007=100 for May 2018. Kuwait Wholesale Price Index: Electricity, Gas, Steam and Water data is updated monthly, averaging 100.000 2007=100 from May 2011 (Median) to Jun 2018, with 86 observations. The data reached an all-time high of 100.000 2007=100 in Jun 2018 and a record low of 100.000 2007=100 in Jun 2018. Kuwait Wholesale Price Index: Electricity, Gas, Steam and Water data remains active status in CEIC and is reported by Central Statistical Bureau. The data is categorized under Global Database’s Kuwait – Table KW.I013: Wholesale Price Index: 2007=100.

The average wholesale electricity price in Ireland amounted to 123.59 euros per megawatt-hour in October 2024. During the period in consideration, figures reached a record high in March 2022, at over 293 euros per megawatt-hour. This was an increase of more than 302 percent compared to the same month a year prior.

India Wholesale Price Index: 82p: Average: Fuel, Power, Light and Lubricants: Electricity: Special data was reported at 577.300 1981-1982=100 in Mar 2000. This stayed constant from the previous number of 577.300 1981-1982=100 for Feb 2000. India Wholesale Price Index: 82p: Average: Fuel, Power, Light and Lubricants: Electricity: Special data is updated monthly, averaging 185.500 1981-1982=100 from Apr 1982 (Median) to Mar 2000, with 216 observations. The data reached an all-time high of 577.300 1981-1982=100 in Mar 2000 and a record low of 106.400 1981-1982=100 in Apr 1982. India Wholesale Price Index: 82p: Average: Fuel, Power, Light and Lubricants: Electricity: Special data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under India Premium Database’s Inflation – Table IN.IH129: Wholesale Price Index: 1981-82=100: Fuel, Power, Light and Lubricants.

Prices in US dollars per barrel of WCS oil and in Canadian dollars per gigajoule of natural gas.

Sri Lanka Wholesale Price: Fuel & Light: Electricity data was reported at 8.000 LKR/Unit in 2017. This stayed constant from the previous number of 8.000 LKR/Unit for 2016. Sri Lanka Wholesale Price: Fuel & Light: Electricity data is updated yearly, averaging 3.000 LKR/Unit from Dec 1999 (Median) to 2017, with 19 observations. The data reached an all-time high of 9.000 LKR/Unit in 2014 and a record low of 2.000 LKR/Unit in 2000. Sri Lanka Wholesale Price: Fuel & Light: Electricity data remains active status in CEIC and is reported by Central Bank of Sri Lanka. The data is categorized under Global Database’s Sri Lanka – Table LK.P003: Wholesale Price: By Commodity: Annual.

In October 2024, the average wholesale electricity price in Belgium stood at 78.13 euros per megawatt-hour. Electricity prices recorded a steep increase in 2022, reaching a high of over 448 euros per megawatt-hour in August that year. In 2023, natural gas accounted for almost 21 percent of the country's electricity production.

This dataset provides values for ELECTRICITY PRICE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In October 2024, the average wholesale electricity price in Romania amounted to 89.95 euros per megawatt-hour. In August 2022, wholesale electricity prices in Romania surpassed 490 euros per megawatt-hour.

WPI: Weights: DS: Water, Electricity & Gas Supply (WG) data was reported at 31.369 ‰ in Dec 2022. This stayed constant from the previous number of 31.369 ‰ for Nov 2022. WPI: Weights: DS: Water, Electricity & Gas Supply (WG) data is updated monthly, averaging 30.962 ‰ from Jan 2018 (Median) to Dec 2022, with 60 observations. The data reached an all-time high of 31.369 ‰ in Dec 2022 and a record low of 30.962 ‰ in Dec 2020. WPI: Weights: DS: Water, Electricity & Gas Supply (WG) data remains active status in CEIC and is reported by Directorate-General of Budget, Accounting and Statistics, Executive Yuan. The data is categorized under Global Database’s Taiwan – Table TW.I101: Wholesale Price Index: 2016=100: Domestic Sales: Weights.