The average gas price in Great Britain in June 2025 was 86.28 British pence per therm. This was four pence higher than the same month the year prior and follows a trend of increasing gas prices. Energy prices in the UK Energy prices in the UK have been exceptionally volatile throughout the 2020s. Multiple factors, such as a lack of gas storage availability and the large share of gas in heating, have exacerbated the supply issue in the UK that followed the Russia-Ukraine war. This has also led to many smaller suppliers announcing bankruptcy, while an upped price cap threatened the energy security of numerous households. The United Kingdom has some of the highest household electricity prices worldwide. How is gas used in the UK? According to a 2023 survey conducted by the UK Department for Energy Security and Net Zero, 58 percent of respondents used gas as a heating method during the winter months. On average, household expenditure on energy from gas in the UK stood at some 24.9 billion British pounds in 2023, double the amount spent just two years prior.

The average wholesale electricity price in August 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 Gas fell to 83.08 GBp/thm on August 26, 2025, down 0.45% from the previous day. Over the past month, UK Gas's price has risen 1.03%, but it is still 10.97% lower than a year ago, 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 August of 2025.

The price of gas in the United Kingdom was *** British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to *** pence in the second quarter of 2025 before gradually falling to just under ** pence by the second quarter of 2027.
Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately ** percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of **** percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching **** percent, and food prices increasing by **** percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by *** percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

UK Electricity decreased 24.38 GBP/MWh or 23.80% 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.

TTF Gas fell to 33.58 EUR/MWh on August 26, 2025, down 0.64% from the previous day. Over the past month, TTF Gas's price has risen 0.27%, but it is still 13.26% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on August of 2025.

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

Electricity prices in Europe are expected to remain volatile through 2025, with Italy projected to have some of the highest rates among major European economies. This trend reflects the ongoing challenges in the energy sector, including the transition to renewable sources and the impact of geopolitical events on supply chains. Despite efforts to stabilize the market, prices in countries like Italy are forecast to reach ****** euros per megawatt hour by February 2025, indicating persistent pressure on consumers and businesses alike. Natural gas futures shaping electricity costs The electricity market's future trajectory is closely tied to natural gas prices, a key component in power generation. Dutch TTF gas futures, a benchmark for European natural gas prices, are projected to be ***** euros per megawatt hour in July 2025. The reduced output from the Groningen gas field and increased reliance on imports further complicate the pricing landscape, potentially contributing to higher electricity costs in countries like Italy. Regional disparities and global market influences While European electricity prices remain high, significant regional differences persist. For instance, natural gas prices in the United States are expected to be roughly one-third of those in Europe by March 2025, at **** U.S. dollars per million British thermal units. This stark contrast highlights the impact of domestic production capabilities on global natural gas prices. Europe's greater reliance on imports, particularly in the aftermath of geopolitical tensions and the shift away from Russian gas, continues to keep prices elevated compared to more self-sufficient markets. As a result, countries like Italy may face sustained pressure on electricity prices due to their position within the broader European energy market.

European Union Natural Gas Price: Non-Household Consumers (NH): Total GJ: incl All Taxes & Levies: EU excl UK data was reported at 0.063 EUR/kWh in Dec 2024. This records a decrease from the previous number of 0.065 EUR/kWh for Jun 2024. European Union Natural Gas Price: Non-Household Consumers (NH): Total GJ: incl All Taxes & Levies: EU excl UK data is updated semiannually, averaging 0.075 EUR/kWh from Dec 2022 (Median) to Dec 2024, with 5 observations. The data reached an all-time high of 0.102 EUR/kWh in Dec 2022 and a record low of 0.063 EUR/kWh in Dec 2024. European Union Natural Gas Price: Non-Household Consumers (NH): Total GJ: incl All Taxes & Levies: EU excl UK data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.P004: Eurostat: Natural Gas Price: Non-Household Consumers.

Iceland is by far the largest per capita consumer of electricity worldwide, averaging 51.9 megawatt-hours per person in 2024. This results from a combination of factors, such as low-cost electricity production, increased heating demand, and the presence of energy-intensive industries in the country. Norway, Qatar, and Canada were also some of the world's largest electricity consumers per capita that year. China is the leading overall power consumer Power-intensive industries, the purchasing power of the average citizen, household size, and general power efficiency standards all contribute to the amount of electricity that is consumed per person every year. However, in terms of total electricity consumption, a country's size and population can also play an important role. In 2024, the three most populous countries in the world, namely China, the United States, and India, were also the three largest electricity consumers. Global electricity consumption on the rise In 2023, net electricity consumption worldwide amounted to over 27,000 terawatt-hours, an increase of 30 percent in comparison to a decade earlier. When compared to 1980, global electricity consumption more than tripled. On the generation side, the world is still strongly dependent on fossil fuels. Despite the world's renewable energy capacity quintupling in the last decade, coal and gas combined still accounted for almost 60 percent of global electricity generation in 2023.