Wholesale price today, verified 10 Jun 2026 00:04
Today's Day-Ahead Average
11.31p/kWh
£113 / MWh wholesale
Yesterday
10.45p/kWh
7-Day Average
9.10p/kWh
£91 / MWh wholesale
The Selectra expert explains
Why does the news quote one price and your bill show a different one? The number you see today, around 11.31p per kWh, is the wholesale day-ahead price: the cost at which suppliers buy electricity on the N2EX exchange the day before delivery. It is what utilities pay, not what households pay. The retail price on your bill is built on top of this wholesale cost and includes network charges (TNUoS and DUoS for using the National Grid and your local network), environmental levies (Renewables Obligation, Feed-in Tariff scheme costs, the Energy Company Obligation), supplier operating costs, and 5% VAT.
The Ofgem default tariff cap is the regulator's ceiling on the price suppliers can charge a standard variable tariff customer. From 1 April 2026 to 30 June 2026, the cap sits at 24.67p per kWh with a 57.21p daily standing charge. The cap is rebuilt every quarter using a backward-looking four-month average of wholesale prices, which is why your bill does not move every day even though the wholesale price does. The £1,641 annual figure you keep seeing in the news is the Ofgem-defined typical dual-fuel household, not a guarantee of your own bill.
Who can act on wholesale prices? If you are on a smart half-hourly tariff (Octopus Agile, Octopus Tracker, EDF GoElectric variants), your unit rate moves daily with the wholesale price. Shifting your dishwasher, washing machine, hot water and EV charging to the hours when wholesale prices are low can cut your annual bill by £150 to £300 compared with a standard fixed tariff. For everyone else, the only practical lever is to compare fixed tariffs against today's cap and lock in if a fix beats it.
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UK electricity wholesale price: last 30 days
Over the past month, the UK day-ahead wholesale price has averaged 10.20p per kWh (£102/MWh). The cheapest day was 7 Jun at 4.75p/kWh, the most expensive 18 May at 12.18p/kWh. These swings flow into Ofgem's quarterly cap with a delay of three to four months.
Source: ENTSO-E day-ahead, UK zone. Converted from €/MWh at the live EUR/GBP rate (0.8636).
UK monthly average wholesale price
The longer view: monthly averages from 2025-03 to 2026-06. The structural drivers are gas prices, nuclear and wind availability and the seasonal balance between heating and air-conditioning demand.
Source: ENTSO-E day-ahead, UK zone. Converted from €/MWh at the live EUR/GBP rate (0.8636).
UK electricity price vs Europe today
Across 27 European bidding zones today, the UK day-ahead price (
11.31p/kWh) ranks 24 of 27. The cheapest zone is 
Norway 4 at 0.95p/kWh, and the most expensive is 
Ireland at 12.95p/kWh. UK prices typically sit mid-table because we are a heavy gas-fired grid with limited interconnection to cheaper Nordic and Iberian markets.
| Rank | Country / Zone | £/MWh | p/kWh |
|---|---|---|---|
| 1 |
Norway 4
|
£10 | 0.95p |
| 2 |
Sweden 2
|
£19 | 1.90p |
| 3 |
Finland
|
£26 | 2.59p |
| 4 |
Sweden 1
|
£26 | 2.59p |
| 5 |
France
|
£29 | 2.85p |
| 6 |
Spain
|
£34 | 3.37p |
| 7 |
Norway 3
|
£42 | 4.23p |
| 8 |
Estonia
|
£53 | 5.27p |
| 9 |
Sweden 3
|
£54 | 5.44p |
| 10 |
Norway 5
|
£61 | 6.13p |
| 11 |
Lithuania
|
£80 | 7.95p |
| 12 |
Latvia
|
£80 | 7.95p |
| 13 |
Norway 1
|
£80 | 8.03p |
| 14 |
Sweden 4
|
£81 | 8.12p |
| 15 |
Denmark 2
|
£87 | 8.72p |
| 16 |
Greece
|
£90 | 8.98p |
| 17 |
Belgium
|
£92 | 9.24p |
| 18 |
Norway 2
|
£94 | 9.41p |
| 19 |
Netherlands
|
£99 | 9.85p |
| 20 |
Denmark 1
|
£103 | 10.28p |
| 21 |
Germany
|
£106 | 10.62p |
| 22 |
Romania
|
£108 | 10.80p |
| 23 |
Austria
|
£110 | 10.97p |
| 24 |
UK (you are here)
|
£113 | 11.31p |
| 25 |
Poland
|
£117 | 11.66p |
| 26 |
Italy
|
£127 | 12.69p |
| 27 |
Ireland
|
£130 | 12.95p |
Source: ENTSO-E day-ahead per bidding zone, 10 June 2026. Converted at EUR/GBP 0.8636.
The Ofgem retail cap: what households actually pay
Most UK households do not pay the wholesale price directly. They pay the Ofgem default tariff cap or a fixed deal benchmarked against it. From 1 April 2026 to 30 June 2026, the cap is set as follows for a typical direct-debit customer (England, Scotland and Wales average, including 5% VAT).
Unit rate
24.67p / kWh
Standing charge
57.21p / day
Typical dual-fuel year
£1,641 / yr
The cap is a ceiling, not a target. Suppliers can offer fixed tariffs below the cap, and they often do when they expect wholesale prices to fall. The £1,641 figure assumes the Ofgem Typical Domestic Consumption Value: 2,700 kWh of electricity and 11,500 kWh of gas a year. If you use more or less, your bill will differ.
How to cut your electricity bill
There is no single national electricity price. There is a unit rate and a standing charge, and your bill is built from how you personally consume. These are the three practical levers that move the number on the bill.
Shift heavy loads
If you are on a smart half-hourly tariff (Octopus Agile, Tracker), run your dishwasher, washing machine and EV charge in the cheap overnight window. Off-peak unit rates can be 60-80% lower.
Watch peak hours
UK evening peak (16:00 to 19:00) is the most expensive window on every dynamic tariff. Avoid running the tumble dryer, oven and EV charger together at that time.
How much you save
A household that shifts 3 hours of consumption per day off-peak typically saves £150 to £300 per year against the Ofgem cap, more if you run an EV or heat pump.
What moves UK electricity prices
Wholesale electricity prices change every half-hour. The Ofgem retail cap changes every three months. Both are driven by the same four structural factors.
Gas prices
About 40% of UK electricity is generated from natural gas. Gas-fired plants set the marginal wholesale price during peaks, so any spike in NBP gas prices flows directly into electricity prices the same day.
Wind and solar output
Renewables now provide around 40-50% of UK generation. On a windy weekend, prices collapse; in a still, dark December high-pressure system, prices spike. The UK weather is the single most variable input.
Nuclear and interconnectors
Around 15% of UK supply comes from nuclear baseload. The remainder is balanced through interconnectors with France, Norway, Netherlands, Belgium and Ireland. Cheaper Nordic hydro lowers UK prices when interconnectors flow in.
Demand and weather
A cold January morning at 7am can double the wholesale price compared with a mild April lunchtime. UK demand peaks in winter evenings; demand troughs come on summer weekends with strong wind.
Frequently asked questions
Want to cut your electricity bill?
Selectra's tariff guides explain the UK retail market, fixed vs variable deals and the practical steps that move your annual bill.