UK Wholesale Gas Prices: Charts & Market Analysis
UK wholesale gas price trends and market analysis for business energy buyersWe tender across the UK gas market and handle the switch — get a tailored quote.
What is the current UK wholesale gas price per therm?
As at 3 November 2026, the UK wholesale gas price is around 231 pence per therm (p/therm) for Q1 2027 delivery and around 171 p/therm for Summer 2027. At 1 therm = 29.3 kWh, ~231 p/therm equates to roughly 7.9 p/kWh at the wholesale level (before network, policy and supplier costs are added to a final business gas bill).
Figures are indicative forward-market levels, updated regularly. Last updated: 3 November 2026.
What do commercial gas prices mean per kWh?
Wholesale gas is quoted in pence per therm, but business gas contracts are priced in pence per kilowatt-hour. At 1 therm = 29.3071 kWh, the Q1 2027 wholesale price of 231 p/therm is about 7.9 p/kWh of raw commodity, and Summer 2027 at 171 p/therm is about 5.8 p/kWh.
That is not what you pay. A delivered commercial gas price adds three things on top:
- Transportation and metering – moving gas through the national system and your local distribution zone.
- Climate Change Levy – 0.801 p/kWh. Sites using under 4,397 kWh a month are de minimis: no CCL, and VAT at 5%. See our Climate Change Levy rates guide.
- Supplier cost to serve and margin – varies with credit, volume and contract length.
On that basis a larger business fixing at current levels is typically looking at 9.7 to 10.2 p/kWh delivered for Q1 2027, and 7.6 to 8.1 p/kWh for Summer 2027. Bigger sites pay less per kWh, because the fixed elements spread over more volume.
Indicative only and not a quote: your actual rate depends on consumption profile, distribution zone, credit rating and contract start date. Compare business gas prices for your own sites.
UK wholesale gas prices are the prices at which energy suppliers and large industrial buyers purchase natural gas on the traded market, before transportation, metering and other costs are added to produce a final business gas bill. The UK receives gas from four main sources: Norwegian pipelines (the largest single supply), UK Continental Shelf production, LNG imports via the Isle of Grain terminal in Kent and the South Hook and Dragon terminals at Milford Haven, and inter-connectors from Belgium and the Netherlands. Each source responds differently to global market events, which is why UK wholesale gas prices can move sharply on short notice. Our gas price chart tracks the daily System Average Price (the on-the-day market), alongside indicative Q1 2027 (the rest of this winter) and Summer 2027 (the next season ahead) levels. Gas also sets the marginal price of power for much of the year, so these levels feed straight through into wholesale electricity prices and into the rates quoted on a business electricity contract. Together they give businesses and energy buyers a clear view of current conditions and future price expectations before locking in a contract.
UK wholesale gas prices are one of the worlds most volatile commodities.
UK Wholesale Gas Prices
Quarterly average UK wholesale gas price (pence per therm), from official DESNZ data
This chart shows the quarterly average UK wholesale gas price published by the Department for Energy Security & Net Zero (DESNZ). Because DESNZ figures are released quarterly and in arrears, they give a reliable long-run view of the market trend rather than the latest daily movement. For context, prices spiked above 500p/therm during the 2022 energy crisis before easing back, and dipped through 2025 before rising for three quarters in a row, to around 112p/therm in Q2 2026 – still well above the pre-2021 average of around 40-50p/therm.
UK Gas Daily Price - System Average Price (SAP)
Daily GB gas System Average Price on the On-the-Day Commodity Market - the closest publicly-available daily price marker
The System Average Price (SAP) is the volume-weighted price of gas traded for next-day delivery on Great Britain’s On-the-Day Commodity Market, published daily by National Gas Transmission. It tracks real-time market conditions – outages, maintenance and supply-and-demand fundamentals – and moves closely with the day-ahead wholesale price. Source: National Gas Transmission, published by the ONS under the Open Government Licence v3.0.
Citing this data
This chart shows the UK System Average Price (SAP), the volume-weighted price of gas traded for next-day delivery on Great Britain’s On-the-Day Commodity Market, in pence per therm. The series is published by National Gas Transmission via the Office for National Statistics under the Open Government Licence v3.0. It runs roughly ten days behind the current date.
Please attribute as:
Source: National Gas Transmission via ONS, Open Government Licence v3.0. Chart: Catalyst Commercial Services, catalyst-commercial.co.uk
Please note: the Winter and Summer season figures shown elsewhere on this page are indicative editorial estimates taken from published market commentary. They are not licensed market data and should not be reproduced as a price series.
Journalists and researchers are welcome to reproduce this chart with attribution. For comment on UK wholesale gas prices, contact Catalyst Commercial Services.
Latest Energy Market ReportsAll the latest UK energy market price news and views
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UK Energy Market Report – 6 Nov 2026
UK gas and power market update, 6 November 2026. Prices bounce back after three days of falls as low wind, colder weather and Norwegian outages return.
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UK Energy Market Report – 5 Nov 2026
UK gas and power market update, 5 November 2026. Gas and power fall for a third day as oil slides, with low wind and colder weather still to come.
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Nov26 Energy Market Brief
October took UK gas and power to their highest prices of the year, with NBP day-ahead up 42%, before a sharp fall in early November. Our monthly market brief.
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Weekly Energy Market Report – Week 45
UK weekly wholesale gas and electricity market summary for 28 October to 3 November 2026: NBP gas prices, day-ahead power, Brent crude and buying advice.
UK Wholesale Gas - Winter 2026/27 (Q1 2027)
Forward gas for delivery in January to March 2027, the rest of winter 2026/27UK wholesale gas prices can be purchased on a season-ahead basis. With Winter 2026/27 now in delivery, Summer 2027 and Winter 2027/28 are the seasons most businesses buy at renewal, and the rest of this winter trades as Q1 2027. These prices are more closely aligned with key market drivers and are influenced by current events such as geopolitical tension or weather fronts. Want the latest forward curve for Summer 2027 and Winter 2027/28? Our gas desk tracks live season-ahead pricing daily – contact us for an up-to-date forward quote for your renewal.
UK Gas Prices - Summer 2027
The next front Summer seasonSummer 2027 forward gas prices reflect how the market expects supply and demand to balance across the warmer months when heating demand falls. Summer forward prices are typically lower than winter levels, though LNG competition from Asia and European storage refill activity can provide a price floor. Monitoring summer-ahead prices helps businesses building a flexible gas procurement position, locking in summer tranches can provide a cost-effective base before Winter 2027/28 demand returns. Looking for live Summer 2027 pricing? Contact our gas desk for an up-to-date forward quote.
Gas Prices Summary
UK wholesale gas prices are quoted in pence per therm (p/therm) or pence per kilowatt-hour (p/kWh). To convert: 1 therm = 29.3 kWh, so a price of 80p/therm equates to approximately 2.7p/kWh at the wholesale level, before network charges, metering and Climate Change Levy are added to produce the fully delivered rate. For context, UK wholesale gas prices peaked above 500p/therm in August 2022 during the European energy crisis, fell back sharply through 2024 and remain significantly above the pre-2021 average of around 40-50p/therm. Current season-ahead levels are shown in the price cards at the top of this page. If you are comparing business gas contract options, reviewing a flexible procurement strategy, or benchmarking your current rates against the market, our commercial gas consultants can provide an independent analysis. See also our guide to Climate Change Levy rates for a full breakdown of non-commodity costs.
Are UK wholesale gas prices going down in 2026?
UK wholesale gas prices have fallen a long way from the record highs of 2022 but remain above pre-crisis levels. Current Winter and Summer season-ahead levels are shown in the price cards at the top of this page and are updated regularly, rather than quoted here as a fixed band that dates quickly. European storage is at healthy levels, while LNG competition from Asian buyers continues to put a floor under the market.
Can I buy gas at wholesale prices?
With sufficient volume, businesses can access the wholesale gas market through a flexible gas contract. These contracts are structured and managed by specialist energy consultants, as they require active risk management and market expertise to deliver real value. Contact Catalyst Commercial for a flexible gas procurement review.
Do UK wholesale gas prices fluctuate daily?
Yes. UK wholesale gas prices fluctuate throughout the day based on supply and demand fundamentals, weather forecasts, pipeline flows, LNG import levels and geopolitical events. Different delivery periods trade at different levels - within-day, day-ahead, month-ahead, season-ahead and year-ahead contracts all reflect different market expectations.
What drives UK wholesale gas prices in 2026?
UK wholesale gas prices in 2026 are primarily driven by European gas storage levels, LNG import availability competing with Asian demand, Norwegian pipeline supply, seasonal weather patterns, and the ongoing reduction of Russian piped gas flows into Europe. The UK now competes globally for LNG cargoes from the US, Qatar and Australia, making prices sensitive to international market movements.
How do wholesale gas prices affect my business energy bill?
Wholesale gas is typically around 60-75% of a delivered business gas bill, depending on where the market is trading, with the remainder made up of transportation, metering, supplier margin and levies including the Climate Change Levy. That is a much larger share than for electricity, where network and policy costs dominate, so a business gas rate tracks the wholesale market more closely. When wholesale prices rise, suppliers pass costs through at contract renewal. Locking in a fixed-price contract or using a flexible basket procurement strategy can protect your business from price spikes.
Demystifying UK Gas Prices: Understanding the Factors that Influence UK gas prices.
Gas prices in the UK can often feel like a mystery, with costs seemingly fluctuating without any obvious explanation. If you’ve ever wondered why the cost of wholesale gas prices in UK can vary so significantly, it’s time to demystify the factors that influence the price of commercial gas. Understanding these gas price factors can not only help you make sense of the price differences but also equip you with the knowledge to make informed decisions when it comes to understanding the commercial gas price that relates to your requirements. One of the major contributors to UK wholesale gas prices is the global supply and demand outlook for the supply of gas in the UK, and the UK receives a lot of its gas from Norway, the UK continental shelf, as well as interconnectors feeding the UK from Belgium and the Neverlands. The UK also has 3 liquefied natural gas (LNG) terminals: Grain LNG on the Isle of Grain in Kent, and South Hook and Dragon at Milford Haven, for special gas ships that deliver LNG gas directly into the UK system. In addition to these supplies the UK also has limited gas storage facilities.
Current commercial gas prices UK are influenced by factors such as geopolitical tensions, supply and demand dynamics, and global economic conditions. In addition to this, local taxes and government policies can also have a significant impact on the UK gas price. The fundamental principle of supply and demand plays a crucial role in determining gas prices in the UK. When demand for gas surpasses supply, prices tend to rise, and vice versa. Several factors contribute to the supply and demand dynamics in the UK gas market. Firstly, the UK’s reliance on imported gas puts it at the mercy of global market forces. Any disruptions in the global supply chain, such as political conflicts or natural disasters, can impact gas availability and drive prices up. Additionally, changes in domestic demand, influenced by factors like weather conditions and economic activity, can lead to fluctuations in prices. Moreover, the transportation and storage infrastructure plays, a vital role in ensuring a steady supply of gas. Inadequate infrastructure or maintenance issues can disrupt the flow of gas, leading to supply shortages and higher prices. Understanding these dynamics can help individuals and businesses plan ahead and anticipate potential price fluctuations.
UK Wholesale Gas Price Outlook 2026
UK wholesale gas prices in 2026 continue to reflect a market adjusting to the structural changes triggered by the 2022 energy crisis. European gas storage has rebuilt to healthier levels, but the market remains exposed to several key risk factors that any business energy buyer should understand. The primary drivers of UK gas wholesale prices currently include:
LNG import dependency – The UK relies heavily on LNG imports arriving at the Isle of Grain, South Hook and Dragon terminals. Competition from Asian buyers directly affects how much LNG is available for European delivery and therefore influences UK wholesale gas prices.
Norwegian supply flows – Norway remains the UK’s single largest source of piped gas. Planned or unplanned maintenance on Norwegian infrastructure immediately moves UK wholesale gas prices.
European storage levels – As the UK is interconnected with European gas markets via the Interconnector and BBL pipeline, continental storage fill rates are a key seasonal price driver heading into winter.
Seasonal demand and weather – Cold snaps or extended heating seasons push demand higher, tightening the supply-demand balance and lifting UK day-ahead and season-ahead gas prices.
Geopolitical factors – Reduced Russian piped gas flows into Europe continue to affect supply, with further disruptions capable of moving UK gas wholesale prices sharply.
Our wholesale gas price chart tracks the daily System Average Price, alongside indicative Q1 2027 and Summer 2027 forward levels, giving businesses and energy buyers a clear view of current market direction. For help securing the right gas contract for your business, compare business gas prices or get a business gas quote from one of our commercial gas consultants. For the latest UK wholesale gas price movements and market commentary, read our UK energy market report November 2026. For a full month in review, read our Nov26 Energy Market Brief, covering an October in which NBP day-ahead gas rose 42% to 253p a therm and this winter, next summer and next winter all closed at their highest prices of the year.
Start with a no-obligation business gas quote from Catalyst.