Prices Soften Again
/
Good News! Prices Have Softened
Business energy prices have shown a slight decrease in the last week as wholesale gas prices have retreated from earlier highs.
Despite this short-term dip, volatile conditions due to conflicts in the Middle East mean that long-term prices are still significantly higher than pre-crisis levels and remain unstable.
Latest Business Energy Market Trends (Week of May 11, 2026):
Wholesale Prices: Wholesale gas and power rates have retreated from the peaks of the previous week.
Fixed Deals: Fixed-rate business electricity contracts for 2026 have come down materially.
Market Volatility: Prices remain volatile and high, with some concerns that continued geopolitical tension could lead to future spikes.
Sector Specific Action: The government has announced it will cut electricity bills for over 10,000 manufacturers by up to 25% through the British Industrial Competitiveness Scheme (BICS) starting April 2027. [1, 2, 3, 4]
Many firms recently pulled fixed deals as prices spiked, but with this week's slight decrease, locking in a rate now could protect against anticipated volatility in the coming months.