8 October 2026
Wholesale electricity was about a quarter of what small businesses paid
Wholesale electricity averaged 9.46p per kWh from April to June 2026, while the smallest businesses paid an average of 38.36p
The figures
- Average GB wholesale electricity price, April to June 2026: 9.46p per kWh (£94.55 per MWh) across 4,367 half-hour periods.
- Average price paid by the smallest businesses in Q2 2026: 38.36p per kWh, including the Climate Change Levy and excluding VAT.
- The wholesale cost was 25% of that price.
- Wholesale prices were below zero in 144 half-hour periods during the quarter.
The gap is not all margin. A business price also carries network charges for the wires and pipes, government levies and the Climate Change Levy, the supplier's own costs, and any broker commission, which Ofgem rules require to be shown on microbusiness contracts and bills. Most small businesses are also on fixed contracts agreed months or years earlier, when wholesale prices may have been higher.
What the comparison does show is how much of a small firm's bill sits outside the wholesale market, which is why the contract terms, the standing charge and timing the renewal matter so much.
Contract ending soon? An independent business energy consultant can check the market for you, free and with no obligation. Get your business energy quote.
Sources
- Elexon, Balancing Mechanism Reporting Service, market index prices (APX), 1 April to 30 June 2026, simple average of half-hourly prices.
- Department for Energy Security and Net Zero, Quarterly Energy Prices table 3.4.2 (published 29/09/2026), smallest electricity users (0 to 20 MWh a year).