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The Business Energy Price Index (2019 = 100)

How far the prices UK businesses pay have moved since 2019, next to the wholesale market that drives them. In Q2 2026 business electricity stood at 190.0 and business gas at 212.4.

Next official update 17 December 2026, added automatically

Business electricity, Q2 2026 190.0 90% above 2019. Peak 220.1 in Q4 2023
Business gas, Q2 2026 212.4 112% above 2019. Peak 289.2 in Q1 2023
Wholesale electricity, Jun 26 245.7 Ofgem day-ahead, monthly
Wholesale gas, Jun 26 317.3 Ofgem day-ahead, monthly
Headline index

Business energy prices vs 2019

Average prices paid by all UK businesses, indexed to the 2019 average. 100 means the same as 2019; 200 means double.

  • Business electricity
  • Business gas
Business electricity and gas price index, 2019 = 100 50 100 150 200 250 300 Jan 20Jan 21Jan 22Jan 23Jan 24Jan 25Jan 26 190.0 212.4 Business electricity and gas price index, 2019 = 100 50 100 150 200 250 300 Jan 20Jan 22Jan 24Jan 26 190.0 212.4

Index, 2019 = 100

Show quarterly index values
DateBusiness electricity (Index, 2019 = 100)Business gas (Index, 2019 = 100)
1 Apr 2026190.0212.4
1 Jan 2026187.2207.8
1 Oct 2025186.0204.0
1 Jul 2025181.0206.4
1 Apr 2025186.3213.6
1 Jan 2025199.6222.9
1 Oct 2024196.5221.9
1 Jul 2024199.0215.4
1 Apr 2024201.4218.3
1 Jan 2024215.9246.4
1 Oct 2023220.1257.7
1 Jul 2023219.6239.1
1 Apr 2023208.4246.4
1 Jan 2023196.7289.2
1 Oct 2022192.2243.0
1 Jul 2022172.1271.5
1 Apr 2022149.8201.1
1 Jan 2022140.6167.7
1 Oct 2021137.4168.1
1 Jul 2021107.9124.2
1 Apr 2021105.3104.4
1 Jan 2021114.8100.6
1 Oct 2020110.599.9
1 Jul 202099.994.0
1 Apr 2020103.895.6
1 Jan 2020110.9104.2
1 Oct 2019108.2100.1
1 Jul 201996.195.7
1 Apr 201995.398.5
1 Jan 2019100.0103.3
Business prices vs the market

How business prices have tracked wholesale costs

Wholesale prices spiked far higher in 2022 but also fell faster. Business prices move more slowly because contracts are fixed in advance and non-energy costs make up a large share.

Electricity

  • Business price (quarterly)
  • Wholesale (monthly)
Business vs wholesale electricity, 2019 = 100 0 200 400 600 800 1,000 Jan 20Jan 21Jan 22Jan 23Jan 24Jan 25Jan 26 190.0 245.7 Business vs wholesale electricity, 2019 = 100 0 200 400 600 800 1,000 Jan 20Jan 22Jan 24Jan 26 190.0 245.7

Index, 2019 = 100

Show index values
DateBusiness price (quarterly) (Index, 2019 = 100)Wholesale (monthly) (Index, 2019 = 100)
1 Jun 2026n/a245.7
1 May 2026n/a238.2
1 Apr 2026190.0205.0
1 Mar 2026n/a216.4
1 Feb 2026n/a181.2
1 Jan 2026187.2222.4
1 Dec 2025n/a170.8
1 Nov 2025n/a185.4
1 Oct 2025186.0170.4
1 Sep 2025n/a164.9
1 Aug 2025n/a163.1
1 Jul 2025181.0185.5
1 Jun 2025n/a163.9
1 May 2025n/a181.7
1 Apr 2025186.3185.5
1 Mar 2025n/a204.9
1 Feb 2025n/a239.5
1 Jan 2025199.6287.0
1 Dec 2024n/a230.3
1 Nov 2024n/a239.1
1 Oct 2024196.5203.4
1 Sep 2024n/a167.5
1 Aug 2024n/a144.1
1 Jul 2024199.0160.0
1 Jun 2024n/a176.0
1 May 2024n/a165.4
1 Apr 2024201.4136.7
1 Mar 2024n/a147.7
1 Feb 2024n/a138.7
1 Jan 2024215.9167.7
1 Dec 2023n/a158.3
1 Nov 2023n/a233.6
1 Oct 2023220.1190.5
1 Sep 2023n/a192.9
1 Aug 2023n/a206.8
1 Jul 2023219.6188.5
1 Jun 2023n/a200.6
1 May 2023n/a188.2
1 Apr 2023208.4243.3
1 Mar 2023n/a251.1
1 Feb 2023n/a312.9
1 Jan 2023196.7302.7
1 Dec 2022n/a640.1
1 Nov 2022n/a304.2
1 Oct 2022192.2278.0
1 Sep 2022n/a613.6
1 Aug 2022n/a831.5
1 Jul 2022172.1612.1
1 Jun 2022n/a395.7
1 May 2022n/a266.4
1 Apr 2022149.8413.7
1 Mar 2022n/a603.0
1 Feb 2022n/a380.3
1 Jan 2022140.6472.9
1 Dec 2021n/a600.1
1 Nov 2021n/a479.0
1 Oct 2021137.4440.0
1 Sep 2021n/a527.3
1 Aug 2021n/a248.2
1 Jul 2021107.9216.1
1 Jun 2021n/a181.3
1 May 2021n/a178.4
1 Apr 2021105.3158.6
1 Mar 2021n/a130.7
1 Feb 2021n/a129.1
1 Jan 2021114.8207.9
1 Dec 2020n/a136.2
1 Nov 2020n/a107.1
1 Oct 2020110.5102.1
1 Sep 2020n/a103.6
1 Aug 2020n/a86.6
1 Jul 202099.971.5
1 Jun 2020n/a65.0
1 May 2020n/a55.2
1 Apr 2020103.854.9
1 Mar 2020n/a75.9
1 Feb 2020n/a73.2
1 Jan 2020110.982.1
1 Dec 2019n/a91.3
1 Nov 2019n/a105.3
1 Oct 2019108.286.3
1 Sep 2019n/a85.3
1 Aug 2019n/a90.6
1 Jul 201996.195.7
1 Jun 2019n/a90.1
1 May 2019n/a94.5
1 Apr 201995.3100.3
1 Mar 2019n/a102.8
1 Feb 2019n/a114.9
1 Jan 2019100.0143.0

Gas

  • Business price (quarterly)
  • Wholesale (monthly)
Business vs wholesale gas, 2019 = 100 -200 0 200 400 600 800 1,000 1,200 Jan 20Jan 21Jan 22Jan 23Jan 24Jan 25Jan 26 212.4 317.3 Business vs wholesale gas, 2019 = 100 -500 0 500 1,000 1,500 Jan 20Jan 22Jan 24Jan 26 212.4 317.3

Index, 2019 = 100

Show index values
DateBusiness price (quarterly) (Index, 2019 = 100)Wholesale (monthly) (Index, 2019 = 100)
1 Jun 2026n/a317.3
1 May 2026n/a339.6
1 Apr 2026212.4322.0
1 Mar 2026n/a381.5
1 Feb 2026n/a228.7
1 Jan 2026207.8260.4
1 Dec 2025n/a204.4
1 Nov 2025n/a219.4
1 Oct 2025204.0224.8
1 Sep 2025n/a228.6
1 Aug 2025n/a228.4
1 Jul 2025206.4233.8
1 Jun 2025n/a248.6
1 May 2025n/a237.8
1 Apr 2025213.6248.6
1 Mar 2025n/a294.7
1 Feb 2025n/a361.4
1 Jan 2025222.9354.4
1 Dec 2024n/a321.1
1 Nov 2024n/a321.4
1 Oct 2024221.9278.8
1 Sep 2024n/a249.4
1 Aug 2024n/a243.4
1 Jul 2024215.4271.3
1 Jun 2024n/a237.8
1 May 2024n/a218.8
1 Apr 2024218.3205.2
1 Mar 2024n/a197.3
1 Feb 2024n/a182.3
1 Jan 2024246.4212.7
1 Dec 2023n/a244.1
1 Nov 2023n/a304.0
1 Oct 2023257.7294.3
1 Sep 2023n/a265.7
1 Aug 2023n/a241.9
1 Jul 2023239.1206.2
1 Jun 2023n/a232.0
1 May 2023n/a211.8
1 Apr 2023246.4292.3
1 Mar 2023n/a311.1
1 Feb 2023n/a387.6
1 Jan 2023289.2439.2
1 Dec 2022n/a798.4
1 Nov 2022n/a398.8
1 Oct 2022243.0314.8
1 Sep 2022n/a759.0
1 Aug 2022n/a1,025.6
1 Jul 2022271.5713.6
1 Jun 2022n/a430.7
1 May 2022n/a303.4
1 Apr 2022201.1536.2
1 Mar 2022n/a903.4
1 Feb 2022n/a540.8
1 Jan 2022167.7587.0
1 Dec 2021n/a780.6
1 Nov 2021n/a579.4
1 Oct 2021168.1615.8
1 Sep 2021n/a467.0
1 Aug 2021n/a317.0
1 Jul 2021124.2261.8
1 Jun 2021n/a207.5
1 May 2021n/a187.8
1 Apr 2021104.4157.8
1 Mar 2021n/a129.5
1 Feb 2021n/a132.4
1 Jan 2021100.6170.0
1 Dec 2020n/a131.6
1 Nov 2020n/a108.2
1 Oct 202099.9110.1
1 Sep 2020n/a86.1
1 Aug 2020n/a58.3
1 Jul 202094.038.1
1 Jun 2020n/a38.0
1 May 2020n/a33.4
1 Apr 202095.639.6
1 Mar 2020n/a66.0
1 Feb 2020n/a67.7
1 Jan 2020104.280.4
1 Dec 2019n/a92.6
1 Nov 2019n/a109.6
1 Oct 2019100.173.9
1 Sep 2019n/a71.6
1 Aug 2019n/a79.9
1 Jul 201995.785.3
1 Jun 2019n/a80.6
1 May 2019n/a90.5
1 Apr 201998.5100.8
1 Mar 2019n/a113.2
1 Feb 2019n/a135.7
1 Jan 2019103.3166.3
Small businesses

The smallest businesses: index vs 2019

Very small users (up to 20,000 kWh of electricity or 278,000 kWh of gas a year) pay the highest prices per unit. Here's how their prices have moved.

  • Very small, electricity
  • Very small, gas
Very small business electricity and gas price index, 2019 = 100 50 100 150 200 250 300 Jan 20Jan 21Jan 22Jan 23Jan 24Jan 25Jan 26 229.6 206.2 Very small business electricity and gas price index, 2019 = 100 50 100 150 200 250 300 Jan 20Jan 22Jan 24Jan 26 229.6 206.2

Index, 2019 = 100

Show quarterly index values
DateVery small, electricity (Index, 2019 = 100)Very small, gas (Index, 2019 = 100)
1 Apr 2026229.6206.2
1 Jan 2026209.6160.8
1 Oct 2025216.1179.9
1 Jul 2025223.6226.2
1 Apr 2025221.9194.4
1 Jan 2025196.6166.9
1 Oct 2024204.6187.8
1 Jul 2024195.2223.7
1 Apr 2024185.6201.9
1 Jan 2024192.8193.9
1 Oct 2023192.8204.1
1 Jul 2023194.4266.3
1 Apr 2023203.6214.8
1 Jan 2023185.1206.1
1 Oct 2022166.8190.3
1 Jul 2022151.2233.6
1 Apr 2022134.2169.9
1 Jan 2022120.0115.4
1 Oct 2021112.8118.3
1 Jul 2021108.8134.5
1 Apr 2021106.2107.1
1 Jan 2021104.291.3
1 Oct 2020102.8103.9
1 Jul 2020101.4153.1
1 Apr 2020102.6120.5
1 Jan 2020103.892.3
1 Oct 2019105.694.2
1 Jul 2019100.4134.5
1 Apr 201996.7104.2
1 Jan 201997.790.9

For the prices themselves in pence per kWh: business electricity prices · business gas prices

How the index is built

Business prices: DESNZ Quarterly Energy Prices tables 3.4.2 (including Climate Change Levy, excluding VAT), each quarter divided by the 2019 annual average and multiplied by 100. Wholesale: Ofgem monthly day-ahead averages divided by their 2019 average.

Why 2019?

2019 is the last full year before the pandemic and the 2021 to 2023 energy crisis, so it's a natural "normal" reference point for how far prices have moved.

How often it updates

Business prices update each quarter when DESNZ publishes (next on 17 December 2026). Wholesale data updates quarterly from Ofgem. Daily wholesale prices are on our electricity and gas trackers.

Use and cite this data

You're welcome to use these figures in articles, reports and presentations. Please credit Business Energy Expert with a link to this page.

Business Energy Expert (2026) UK Business Energy Price Index. Available at: https://www.businessenergyexpert.com/market-data/business-energy-price-index/ (Accessed: 1 Nov 2026).

Download: Business prices by band (CSV) · Daily wholesale electricity (CSV) · Daily wholesale gas (CSV)

Original sources

FAQs

About the index

What is the Business Energy Price Index?

It shows how much the average price UK businesses pay for electricity and gas has changed since 2019, with the 2019 average set to 100. An index of 150 means prices are 50% higher than in 2019. It uses the government's official quarterly price statistics, and puts wholesale prices on the same scale for comparison.

How much have business electricity prices risen since 2019?

In Q2 2026 the index for the average business electricity price stood at 190.0, meaning prices were about 90% higher than the 2019 average. It peaked at 220.1 in Q4 2023.

How much have business gas prices risen since 2019?

In Q2 2026 the business gas price index stood at 212.4, about 112% above the 2019 average. It peaked at 289.2 in Q1 2023.

Why have business prices not fallen as far as wholesale prices?

Wholesale energy is only one part of a business energy price. Network charges, policy costs and supplier costs also rose, and many businesses are still on contracts fixed when wholesale prices were higher. Business prices therefore follow wholesale prices slowly and only partly.

Can I use the index in an article or report?

Yes. Please credit Business Energy Expert with a link to this page. You can download the underlying data below.

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