Wholesale electricity prices in the United Kingdom hit a record-high in 2022, reaching almost 17 British pence per kilowatt-hour that year. Projections show that prices are bound to decrease steadily in the next few years, falling under five pence per kilowatt-hours by 2030. The annual electricity bill for UK households was between 895 and 1,099 British pounds per kilowatt-hour in 2022.
Wholesale price projection of electricity in United Kingdom (UK) from 2022 to 2040
(in British pence per kilowatt-hour)
Characteristic
Prices in British pence per kilowatt-hour
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Refers to baseload electricity. In constant 2022 prices.
Supplementary notes
Projected data is taken from the reference scenario, which contains all implemented policies and those that are planned where the level of funding has been agreed and the design of the policy is near final.
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GOV.UK, & UK Department for Business, Energy and Industrial Strategy, & Department for Energy Security and Net-Zero (UK). (October 18, 2022). Wholesale price projection of electricity in United Kingdom (UK) from 2022 to 2040 (in British pence per kilowatt-hour) [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/496328/electricity-wholesale-prices-projection-uk/
GOV.UK, und UK Department for Business, Energy and Industrial Strategy, und Department for Energy Security and Net-Zero (UK). "Wholesale price projection of electricity in United Kingdom (UK) from 2022 to 2040 (in British pence per kilowatt-hour)." Chart. October 18, 2022. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/496328/electricity-wholesale-prices-projection-uk/
GOV.UK, UK Department for Business, Energy and Industrial Strategy, Department for Energy Security and Net-Zero (UK). (2022). Wholesale price projection of electricity in United Kingdom (UK) from 2022 to 2040 (in British pence per kilowatt-hour). Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/496328/electricity-wholesale-prices-projection-uk/
GOV.UK, and UK Department for Business, Energy and Industrial Strategy, and Department for Energy Security and Net-Zero (UK). "Wholesale Price Projection of Electricity in United Kingdom (Uk) from 2022 to 2040 (in British Pence per Kilowatt-hour)." Statista, Statista Inc., 18 Oct 2022, https://www.statista.com/statistics/496328/electricity-wholesale-prices-projection-uk/
GOV.UK & UK Department for Business, Energy and Industrial Strategy & Department for Energy Security and Net-Zero (UK), Wholesale price projection of electricity in United Kingdom (UK) from 2022 to 2040 (in British pence per kilowatt-hour) Statista, https://www.statista.com/statistics/496328/electricity-wholesale-prices-projection-uk/ (last visited July 03, 2024)
Wholesale price projection of electricity in United Kingdom (UK) from 2022 to 2040 (in British pence per kilowatt-hour) [Graph], GOV.UK, & UK Department for Business, Energy and Industrial Strategy, & Department for Energy Security and Net-Zero (UK), October 18, 2022. [Online]. Available: https://www.statista.com/statistics/496328/electricity-wholesale-prices-projection-uk/