Market insight · September 2026
Wholesale gas and power prices are rising sharply. Understand the supply pressures behind September’s renewal quotes and what they mean for your next business energy contract.
Last updated
What is moving the market?
In the week of September 8th 2026, wholesale forward curves moved materially higher across gas and power over five trading sessions. This is the sharpest wholesale spike since early 2023, with several supply pressures converging.
Escalation in the Strait of Hormuz is disrupting LNG shipping. Approximately 20% of globally traded liquefied natural gas passes through this route on any given day.
The strait is just 21 miles wide and approximately 3,500 miles from Derby, but disruption there can feed directly into UK energy costs.
Saudi pipeline attacks are adding to supply concerns and driving gas curve surges alongside the Hormuz escalation.
When wholesale markets price in greater supply risk, businesses can see the effect in new gas contracts and electricity renewal offers.
European gas storage is at a 15-year seasonal low. Germany is at 56% and the Netherlands at 52%.
Lower reserves leave less of a cushion against supply disruption as businesses plan for Q4 2026 and Q1 2027.
The budget impact
Competitive fixed-rate electricity tariffs are 12 to 18% higher than equivalent quotes available in June 2026.
£3,000 to £4,500
More per year in the example below
For a medium-sized business consuming 50,000 kWh of electricity annually, the difference between a contract agreed in June and one agreed today is between £3,000 and £4,500 per year.
Week of September 8th 2026
SME electricity tariffs now average 27.5p to 31.0p per kWh at renewal. Your contract status makes a substantial difference to both unit rates and standing charges.
Based on Kilowatt Energy panel market data, week of September 8th 2026. Figures represent mid-market competitive range and are subject to daily movement.
Protect your cost base
Out of contract customers are fully exposed to market movements. If your agreement has ended, or you have moved into premises without arranging a contract, reviewing your position should be a priority.
A higher bill is also worth checking carefully. Confirm the tariff, meter readings and billing period before assuming that every increase is a wholesale price change.
We compare business energy prices and help recover overcharged bills. Our Derby-based energy brokerage supports businesses across the UK.
Read our tenancy dispute case studyA practical procurement plan
There is no certainty about the next market move. Focus on the information you can verify and the contract terms your business can manage.
Gather a recent bill, annual consumption, contract end date and any notice requirements. Confirm whether you are on fixed, deemed or out of contract rates.
Review unit rates, daily standing charges and contract duration together. A lower unit rate alone does not tell you what your business will spend.
Balance budget certainty with your premises plans and future energy needs. Check quote validity and terms before accepting an offer, rather than acting on a cold call.
Your questions answered
The right response depends on your current agreement, consumption and renewal date.
Clearer contracts. Closer scrutiny.
Share your current contract, recent bill and renewal date. We’ll help you compare your options and understand what they mean for your business.