UK manufacturers face a "heavy drag" on competitiveness due to the highest electricity prices in the G7. Make UK and TUC call for expanded government relief, costing £3bn, to cover all manufacturers, as current schemes are too narrow.
In the week of May 25-31, 2026, Italy's electricity market saw an average price of €123.58/MWh, up from the previous week. Traded volumes were 4.7 million MWh with 86.1% liquidity.
Record-breaking summer heat is expected to drive up electricity bills by an average of 8.5% nationwide, straining household budgets. Rising energy costs, coupled with increased demand for cooling, are forcing families to cut back on other expenses and seek assistance.
NextEra Energy plans to acquire Dominion Energy for $67 billion, a move that could impact electricity prices amid surging demand from AI and rising costs. While NextEra claims benefits for customers, critics fear higher rates.
Electricity prices on the PJM Interconnection grid have nearly doubled in the past year, reaching $136.53 per megawatt-hour, according to Monitoring Analytics. The surge is attributed to the increasing demand from data centers and PJM's insufficient capacity and delayed upgrades.
Despite fuel price surges due to the Middle East crisis, EU household electricity prices declined by 3.1% on average between February 2 and April 1, 2026, while gas prices rose by 6.8%. Declines were highest in Tallinn (19%), Copenhagen (15.9%), and Stockholm (15.2%), with Rome seeing the largest increase (7.9%). Gas prices surged notably in Brussels (28.8%), Berlin (28.6%), and Athens (21.3%), contrasting with declines in Madrid (7.9%) and Ljubljana (4%).
The UK government's plan to de-link gas and electricity prices is a heavily diluted version of the more radical 'pot zero' proposal and will likely deliver only modest savings for consumers. While older wind and solar farms under the renewables obligation scheme receive around £200/MW/h compared to £91 for new projects, the reform only swaps the wholesale element to fixed-price contracts, not the legacy subsidy portion. Energy secretary Ed Miliband offered no bill reduction forecast, with savings dependent on take-up and likely to be modest under normal conditions.
Government has shaken up the way electricity is priced as British costs are among the highest in the worldElectricity generators threatened with higher windfall taxes in bid to ensure stable pricesThe second global energy crisis of this decade has reignited questions about Britain’s grid strategy, specifically: why does it continue to have one of the most expensive electricity markets in the world?Despite the growing role of domestically generated renewable power, electricity wholesale prices in the UK have more than doubled since the war in Iran triggered a global squeeze on seaborne gas shipments from the Gulf. Continue reading...
Government has shaken up the way electricity is priced as British costs are among the highest in the worldElectricity generators threatened with higher windfall taxes in bid to ensure stable pricesThe second global energy crisis of this decade has reignited questions about Britain’s grid strategy, specifically: why does it continue to have one of the most expensive electricity markets in the world?Despite the growing role of domestically generated renewable power, electricity wholesale prices in the UK have more than doubled since the war in Iran triggered a global squeeze on seaborne gas shipments from the Gulf. Continue reading...
The UK government will announce plans to weaken the link between electricity and volatile gas prices, encouraging older renewable energy generators to move to fixed-price contracts. The change, expected within a year, aims to protect consumers from energy shocks when gas prices spike. Chancellor Rachel Reeves and Energy Secretary Ed Miliband will make statements on Tuesday, with the plans subject to consultation.
