UK: quarterly fuel price for power producers 2023

Natural gas was the most expensive fossil fuel bought by major power producers in the United Kingdom, at 5.01 pence per kilowatt-hour in the second quarter of 2023. This represents roughly a 13 percent increase compared to the same quarter a year prior. The average price of natural gas peaked in the third quarter of 2022, at 5.97 pence per kilowatt-hour. Nonetheless, figures slightly decreased to 5.34 pence per kilowatt-hour in the first quarter of 2023. By comparison, at that same time, coal was the cheapest fuel, at 1.74 pence per kilowatt-hour.

Average price of fossil fuels bought by major power producers in the United Kingdom (UK) from Q1 2012 to Q2 2023 (in pence per kilowatt-hour)

Characteristic	Coal	Oil	Natural gas
Q2 2023	2.6	4.67	5.01
Q1 2023	1.74	3.22	5.34
Q4 2022	2.86	5.89	4.87
Q3 2022	3.58	7.82	5.97
Q2 2022	2.96	6.95	4.43
Q1 2022	1.77	4.58	3.99
Q4 2021	1.76	4.18	4.69
Q3 2021	1.39	3.91	2.56
Q2 2021	0.92	3.68	1.54
Q1 2021	0.69	3.21	1.33
Q4 2020	0.77	2.9	1.2
Q3 2020	0.66	2.65	0.81
Q2 2020	0.58	1.9	0.72
Q1 2020	0.62	3.59	1.17
Q4 2019	0.68	3.39	1.23
Q3 2019	0.67	3.55	1.07
Q2 2019	0.6	3.6	1.04
Q1 2019	0.79	3.33	1.48
Q4 2018	0.95	3.38	1.88
Q3 2018	0.98	3.75	1.67
Q2 2018	0.87	3.64	1.64
Q1 2018	0.86	2.93	1.55
Q4 2017	0.96	2.94	1.46
Q3 2017	0.93	2.64	1.31
Q2 2017	0.82	2.81	1.27
Q1 2017	0.9	2.63	1.41
Q4 2016	0.92	2.7	1.34
Q3 2016	0.64	2.47	1.05
Q2 2016	0.46	2.01	1.05
Q1 2016	0.6	1.7	1.17
Q4 2015	0.56	2.13	1.28
Q3 2015	0.6	2.34	1.42
Q2 2015	0.61	2.59	1.49
Q1 2015	0.66	2.35	1.7
Q4 2014	0.72	3.34	1.89
Q3 2014	0.71	3.92	1.51
Q2 2014	0.72	3.94	1.63
Q1 2014	0.76	4.02	2.12
Q4 2013	0.8	3.83	2.24
Q3 2013	0.75	4.24	2.07
Q2 2013	0.81	4.37	2.05
Q1 2013	0.83	4.54	2.32
Q4 2012	0.83	4.33	2.19
Q3 2012	0.87	4.81	1.98
Q2 2012	0.88	4.54	2.01
Q1 2012	0.96	4.91	2.06

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Release date

December 2023

More information

Region

United Kingdom

Survey time period

Q1 2012 to Q2 2023

Supplementary notes

* Prices were rounded up.

This statistic is using original data from the Department for Business, Energy and Industrial Strategy and includes copyright material from © Crown, licensed under the Open Government License v3.0

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