UK natural gas prices climbed above 240p per therm at 0900 in early trading on 26 October 2026 before falling back slightly, according to figures published by the End Fuel Poverty Coalition1. The same publication reported that the benchmark had reached 230.43p/thm at 1200 on 23 October, the first time prices had exceeded 230p/thm since 5 December 20221.
The coalition, an independent campaign group, set the rise against last year: the price on 24 October 2025 was 80.51p/thm, making the current level 186% higher, or 2.9 times higher1. It was also 26% above the 182.28p/thm recorded on 23 September 2026 and 5% above the 218.69p/thm of 16 October1. The coalition said wholesale prices had tripled in the space of 12 months, and that gas unit rates are set to hit new highs from 1 January1. It attributed rising bills almost entirely to gas, noting that gas power stations still set the wholesale price of electricity most of the time, so volatile international gas markets push up costs for every household, including those that do not use gas at all1. How the wholesale market sets these prices is set out in the guide to how the wholesale gas and electricity markets work.
Nearly a quarter (23%) ranked reducing the cost of energy as their first Budget priority, ahead of increasing NHS funding (19%) and keeping taxes down (15%); on a top-three basis, 60% included energy costs, against 50% for the NHS and 42% for taxes1. Over two thirds (67%) said they were worried about paying their energy bills if prices rise again in the new year, rising to 80% among those aged 45 to 54, and 59% felt the Government is not doing enough to help general households with energy costs this winter1. The most popular support measure was the removal of VAT from electricity bills (48%), a cut introduced on 1 October which is currently due to end in March 2027, followed by the Winter Fuel Payment (47%) and the energy price cap (46%)1.
"Our exposure to volatile fossil fuel prices has caused the second energy crisis in five years and it is driving up bills again this winter."
The coalition also reported support for measures it has proposed: 32% backed an emergency heat tariff capping the total cost of energy used for heating, 26% backed writing off some households' energy debt, 33% supported extending the Warm Home Discount to people on non-means-tested disability benefits and 35% backed a social tariff1. The proposals for a social tariff for energy and their current status are covered separately.
Why it matters for households
Gas prices feed through to household bills with a lag, and the coalition's figures point to gas unit rates reaching new highs from 1 January1. Because gas generation usually sets the electricity price, the effect is not confined to homes with a gas supply1. The wider picture of how wholesale costs translate into bills is covered in the guide to wholesale prices and why bills change, and the latest official figures are tracked in UK home energy statistics. For a household's energy independence, the practical exposure is to a market priced internationally: the coalition argues that no amount of North Sea drilling will change it, because the gas is sold on markets and affected by international events1. The relationship between bills and reliance on imported fuel is examined in energy bills and energy independence.
What happens next
The Chancellor, John Healey, is due to deliver his first Budget, which the polling was conducted ahead of; no date is given in the published material1. The VAT cut on electricity bills is currently due to end in March 20271. New gas unit rates are set to take effect from 1 January1.