Energy Update — 10th July 2026

Market Update

Renewed attacks on commercial shipping in and around the Strait of Hormuz, followed by US strikes on Iranian targets, have kept gas markets volatile. A sustained return of LNG cargoes through the Strait would be a key condition for prices to ease.

Europe needs LNG cargoes through the summer to refill storage before winter. Storage remains below its pre-crisis average, although the European Commission says there is no immediate supply-security concern. The risk is that Europe must keep paying more for LNG while shipping remains disrupted.

The hottest weather is expected on Thursday and Friday, with very warm conditions in places continuing next week. For pubs, outdoor trade can be strong, but cellar cooling, fridges and beer lines also work harder.

Business Energy Costs

Gas commodity cost is back above the late-June sample. Electricity commodity cost is back at 10.3p per kWh, the same as 12 June. Gas remains exposed to disruption to LNG shipping. Electricity commodity cost is only one part of the bill: network, balancing and policy-related charges also affect all-in costs.

	Date	Commodity Cost	Av Unit Rate	Av Standing Charge
Electricity	27/02/2026	6.9p	23.1p	£1.52
	12/06/2026	10.3p	27.6p	£1.30
	09/07/2026	10.3p	27.1p	£1.42
Gas	27/02/2026	2.5p	5.5p	£1.98
	12/06/2026	4.0p	6.8p	£0.91
	09/07/2026	4.1p	7.4p	£2.12

For pubs inside three months of renewal, get fresh offers now and compare the full bill, not just the headline unit rate. Pubs six to twelve months out can keep watching the market, but should avoid drifting onto deemed rates during a change of tenancy.

Supplier Challenges

EDF has advised that active contracts and future-dated agreements must have a valid Direct Debit in place. If there is no active Direct Debit, EDF may cancel the contract and move the site onto deemed rates. Before changing a payment method, check the position with Nationwide Energy and EDF first.

The printable version includes the Cornwall Insight / Drax market chart.