On Thursday, wholesale gas and electricity prices both increased, pushing the April 2026 1-year gas price back above the psychological mark of 80p per therm. Electricity remains well below £80 per MWh for the same period.

The curve remains very flat, with less than 5% separating 1- and 3-year contracts on both gas and electricity, while October renewals continue to represent the best value.

On the generation front, the cost of electricity generation in the UK was £80.39 per MWh, which is down on the previous week. The shift is due to fossil fuels dropping below 30% and renewables increasing to 37%. Until renewables reach above 57%, we don’t expect prices to fall below £65 per MWh.

It’s normal at this time of year to see prices starting to creep up, but in the UK, if we can get generated power transferred from Scotland to England, we can mitigate the increases effectively.

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