UK Electricity decreased 27.25 GBP/MWh or 26.60% 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.

The average wholesale electricity price in July 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.

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.

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 *** 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.

Electricity Production in the United Kingdom increased to 66458 Gigawatt-hour in the first quarter of 2025 from 64050 Gigawatt-hour in the fourth quarter of 2024. This dataset has Electricity Production values for United Kingdom.

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.

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.

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.

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.

The Electricity Supply industry has developed considerably since its liberalisation in 1999. Following a period in which the Big Six suppliers dominated, energy regulator Ofgem endeavoured to introduce greater competition to the market as part of attempts to drive down energy bills. Major mergers and acquisitions effectively brought the dominance of the former Big Six suppliers to an end at the end of 2019-20. Along with weakening electricity consumption, swelling competition has applied further pressure on revenue in recent years. Electricity suppliers' revenue is slated to climb at a compound annual rate of 4.7% to reach £49.8 billion over the five years through 2024-25. The introduction of the standard variable tariff price cap in January 2019 squeezed revenue growth. The pandemic exacerbated the drop in revenue, as widespread tariff reductions compounded the effects of reduced electricity consumption. With suppliers bound by the energy price cap, soaring wholesale prices led to widening operating losses in 2021-22, albeit with a modest revenue recovery. A renewed spike in wholesale prices led to a continued wave of insolvencies among energy suppliers going into 2022-23, with 31 suppliers falling victim to the energy crisis. Soaring non-domestic energy bills and significant hikes to the SVT price cap spurred significant revenue growth in 2022-23, while the transfer of customer accounts from failed suppliers reinstated the dominance of major suppliers. The introduction of the Energy Price Guarantee (EPG) and support for business energy customers prevented energy prices from spiralling out of control going into 2023-24. A faster-than-anticipated drop in wholesale electricity prices has eased pressure on operating profit in the current year, contributing to an estimated 10.1% revenue contraction. Revenue is forecast to sink at a compound annual rate of 0.9% to £47.6 billion over the five years through 2029-30. Prices will remain elevated in the medium term as concerns surrounding supplies of Russian fossil fuels into Europe inflate wholesale costs. Wholesale prices are set to stabilise in the long term, spurring tariff reductions. The continued drop in electricity consumption is also set to limit growth prospects in the coming years.

Graph and download economic data for Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for United Kingdom (CPGREN01GBM659N) from Jan 1971 to Mar 2025 about fuels, electricity, energy, gas, United Kingdom, CPI, price index, indexes, and price.

Energy Inflation in the United Kingdom decreased to -1.70 percent in May from -0.90 percent in April of 2025. This dataset includes a chart with historical data for the United Kingdom Energy Inflation.

United Kingdom HICP: Weights: Housing, Water, Electricity, Gas & Other Fu data was reported at 134.000 Per 1000 in Sep 2018. This stayed constant from the previous number of 134.000 Per 1000 for Aug 2018. United Kingdom HICP: Weights: Housing, Water, Electricity, Gas & Other Fu data is updated monthly, averaging 128.000 Per 1000 from Jan 1988 (Median) to Sep 2018, with 369 observations. The data reached an all-time high of 144.000 Per 1000 in Dec 2012 and a record low of 103.000 Per 1000 in Dec 2004. United Kingdom HICP: Weights: Housing, Water, Electricity, Gas & Other Fu data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.I008: Harmonised Index of Consumer Prices: Weights.

This statistic shows the projected price of electricity for final demand sectors in the United Kingdom, from 2020 to 2050. The projections form part of the EU Reference Scenario 2016, providing a framework by which energy and environment policy can be assessed.The price of electricity is to fall after 2030, eventually reaching *** euros per megawatt hours in 2050.