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.

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.

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.

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

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.

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.

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 March 2024, industrial electricity prices in the European countries of Poland, Italy, and the United Kingdom were among the highest in the world, at over 0.40 U.S. dollars per kilowatt-hour. Singapore was the Asian country with the highest electricity bill worldwide at that time. Lowest electricity prices in the world The average retail electricity price in the United States was considerably lower than in most of Europe. Iceland was the European country with one of the lowest electricity bills for enterprises that month. At the bottom of the ranking were also Russia, Iraq, Qatar, Argentina, and Libya. In these countries, commercial electricity prices amounted to less than 0.1 U.S. dollars per kilowatt-hour. Household electricity prices In addition, European countries had the highest household electricity prices worldwide that month, with Italy at the top of the ranking. By comparison, Iran and Ethiopia had the lowest residential electricity prices in the world.

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.

Live business electricity prices per kWh and standing charges in the UK.

As of the fourth quarter of 2024, oil prices in the United Kingdom stood at 74 dollars per barrel, with prices expected to rise to 76.6 dollars a barrel in early 2025, before gradually falling in subsequent quarters.

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.

Graph and download economic data for Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for United Kingdom (GBRCPIENGMINMEI) from Jan 1970 to Dec 2024 about energy, United Kingdom, CPI, price index, indexes, and 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.