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.

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.

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.

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.

Non-domestic consumers with consumption between 500 megawatt-hours and 2,000 megawatt-hours tended to pay higher electricity prices than those users with consumption greater than 20,000 megawatt-hours. As of 2023, electricity prices for these consumers amounted to 32.17 pence per kilowatt-hour and 27.07 pence per kilowatt-hour, respectively. Generally, for both consumption rates, electricity prices presented a trend of growth with a peak in 2023.

Households in Great Britain will have their energy bills capped at 2,500 British pounds per year from October 2022 onwards, due to the measures introduced by the UK government in September of 2022. This will result in savings of around 1,050 for the average household, compared with the previous price cap, which was set to increase to 3,459 per year.

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.

European Union Electricity Price: Non-Household Consumers (NH): Total kWh: incl All Taxes & Levies: EU excl UK data was reported at 0.215 EUR/kWh in Jun 2024. This records a decrease from the previous number of 0.235 EUR/kWh for Dec 2023. European Union Electricity Price: Non-Household Consumers (NH): Total kWh: incl All Taxes & Levies: EU excl UK data is updated semiannually, averaging 0.242 EUR/kWh from Dec 2022 (Median) to Jun 2024, with 4 observations. The data reached an all-time high of 0.253 EUR/kWh in Dec 2022 and a record low of 0.215 EUR/kWh in Jun 2024. European Union Electricity Price: Non-Household Consumers (NH): Total kWh: 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.P002: Eurostat: Electricity Price: Non-Household Consumers.

Spain Electricity decreased 81.27 EUR/MWh or 59.82% 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 Spain Electricity Price.

In 2022, the average net selling value of electricity per kilowatt-hour sold in the United Kingdom (UK) amounted to 23.3 pence, the highest value in the period under consideration. The selling price of electricity was around four times larger than the one of natural gas, which was sold at 6.68 pence per kilowatt-hour in 2022.

European Union Electricity Price: NH: Between 20000 & 69999 MwH: incl All Taxes & Levies: EU excl UK data was reported at 0.169 EUR/MWh in Jun 2024. This records a decrease from the previous number of 0.195 EUR/MWh for Dec 2023. European Union Electricity Price: NH: Between 20000 & 69999 MwH: incl All Taxes & Levies: EU excl UK data is updated semiannually, averaging 0.109 EUR/MWh from Jun 2007 (Median) to Jun 2024, with 35 observations. The data reached an all-time high of 0.228 EUR/MWh in Dec 2022 and a record low of 0.084 EUR/MWh in Dec 2007. European Union Electricity Price: NH: Between 20000 & 69999 MwH: 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.P002: Eurostat: Electricity Price: Non-Household Consumers.

The average annual domestic electricity bill in the United Kingdom saw an overall increase from 2010 to 2022 and boomed in 2023. In this period, households with an annual consumption of 5,100 kilowatt-hours saw bills rise from 539 to 1,152 British pounds, including value-added tax. The household expenditure on electricity in the UK amounted to approximately 26.3 billion current British pounds in 2022. Direct debit payments consistently cheaper In the period under consideration, the annual bill for an electricity consumption of 3,600 kilowatt-hours was consistently more expensive for consumers using standard credit as a method of payment, averaging 959 real British pounds in the latter year. From 2016 onwards, consumers using the prepayment method paid less than standard credit consumers and, in 2022, their bill was the least expensive, at 903 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, UK’s power market was greatly impacted by the global energy crisis. In the summer of 2022, electricity prices in Great Britain peaked at 363.7 British pounds per megawatt-hour.

Germany, Belgium, and Ireland had some of the highest household electricity prices worldwide, as of June 2024. At the time, German households were charged around 0.39 U.S. dollars per kilowatt-hour, while in Belgium, the price stood at 0.37 U.S. dollars per kilowatt-hour. By comparison, in Qatar, residents paid more than 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 top importers of natural gas in Europe in 2023 were Germany and Italy, where this energy source constitutes a relevant share of the power mix.

Graph and download economic data for Producer Prices Index: Economic Activities: Energy: Total for United Kingdom (GBRPIEAEN01GPQ) from Q2 2009 to Q4 2022 about energy, United Kingdom, PPI, price index, indexes, and price.

Graph and download economic data for Producer Prices Index: Economic Activities: Energy: Domestic for United Kingdom (PIEAEN02GBQ661N) from Q1 2009 to Q4 2022 about energy, United Kingdom, domestic, PPI, price index, indexes, and price.

The UK inflation rate was three percent in January 2025, up from 2.5 percent in the previous month, and the fastest rate of inflation since March 2024. Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022. Due to this long period of high inflation, UK consumer prices have increased by over 20 percent in the last three years. As of the most recent month, prices were rising fastest in the communications sector, at 6.1 percent, but were falling in both the furniture and transport sectors, at -0.3 percent and -0.6 percent respectively.
The Cost of Living Crisis High inflation is one of the main factors behind the ongoing Cost of Living Crisis in the UK, which, despite subsiding somewhat in 2024, is still impacting households going into 2025. In December 2024, for example, 56 percent of UK households reported their cost of living was increasing compared with the previous month, up from 45 percent in July, but far lower than at the height of the crisis in 2022. After global energy prices spiraled that year, the UK's energy price cap increased substantially. The cap, which limits what suppliers can charge consumers, reached 3,549 British pounds per year in October 2022, compared with 1,277 pounds a year earlier. Along with soaring food costs, high-energy bills have hit UK households hard, especially lower income ones that spend more of their earnings on housing costs. As a result of these factors, UK households experienced their biggest fall in living standards in decades in 2022/23. Global inflation crisis causes rapid surge in prices The UK's high inflation, and cost of living crisis in 2022 had its origins in the COVID-19 pandemic. Following the initial waves of the virus, global supply chains struggled to meet the renewed demand for goods and services. Food and energy prices, which were already high, increased further in 2022. Russia's invasion of Ukraine in February 2022 brought an end to the era of cheap gas flowing to European markets from Russia. The war also disrupted global food markets, as both Russia and Ukraine are major exporters of cereal crops. As a result of these factors, inflation surged across Europe and in other parts of the world, but typically declined in 2023, and approached more usual levels by 2024.