Price of 1 mWh Electricity

Trustpilot Logo

Rated Excellent on Trustpilot
(Over 2,500 Reviews)

Get immediate pricing Save up to 65%
Choose your business address

Can’t see the address? Enter manually

Are you comparing for a business or home?

Business

Home


Go Back
Select Utility
Now please select a utility I want to get prices for...
Gas
Electric
Gas & Electric
Water
Go Back
Next
Please enter your business gas information
How much do you spend & how often?

An estimate is fine if you don't have a bill to hand

Go Back
Get Prices

Let’s save time, can we automatically gather meter information?

? What does this mean?
To get your quotes at lightening speed we need several key pieces of information which can all be found on your electricity bill. But by simply ticking this box, we can search ‘industry held data’ to get your meter number, electricity consumption and current energy supplier. This means that we can get you quick quotes without asking you to dig out all of your paperwork. This is personal data therefore we need you to allow us to access this information.
Go Back

Do you know your electric meter number?

Does your meter number end in any of the following?

Go Back
Enter meter number
I don’t know
Please enter your business electricity information
How much do you spend & how often?

An estimate is fine if you don't have a bill to hand

Start date for a new contract?
Get Prices
Please enter your water information
How much do you spend & how often?

An estimate is fine if you don't have a bill to hand

Go Back
Get Prices

    Enter your details below to get quotes We’ve helped over 90,000 businesses
    Trustpilot Logo

    Rated Excellent on Trustpilot
    (Over 2,500 Reviews)

    When you first begin looking deeper into how much you are spending on your business electricity, it is likely to cause some confusion. You will be bombarded with unfamiliar terms, the type you have forgotten about since your days sat in science class at school.

    One such term is mWh, which stands for megawatt-hour.

    This guide will examine electricity prices per MWh and explore the numerous factors that affect the UK’s energy market.

    What is a megawatt-hour?

    The clue is in the name. As established already, a ‘megawatt’ is the equivalent of one million watts of electricity. The ‘hour’ is used to measure the electricity usage for, you guessed it, an hour.

    Keep in mind the megawatt-hour power does not have to be used all within a single hour. For instance, it could be spread out across two hours if there is continual power usage at a rate of 0.5 megawatts (aka 500 kW). On the other end of the scale, it is possible to use two megawatts of power in the space of 30 minutes.

    How much is one megawatt of electricity?

    According to statistics, the average UK household utilises approximately 3,700 kilowatts each year. As a result, it should not come as a surprise that megawatts are usually restricted to certain organisations and industries.

    For instance, large-scale power stations are typically used on the megawatt scale. It is an incredibly large amount of energy, after all. Just how large? Well, it is said that an mWh can provide about 330 homes with electricity for one hour.

    What is the price of one megawatt?

    Now it is time to answer this guide’s main question: How much does one-megawatt cost?

    Sadly, there is no clear answer to give. Due to the unpredictable nature of the energy industry, unit prices change on a day-to-day basis. They sometimes even fluctuate by the hour. In general, you could be spending between £35 and £65 per mWh.

    The market shifts due to the level of demand for energy from both businesses and domestic households. This can change because of the weather. During hot summer months, for example, there is a natural increase in air conditioning systems’ use to stay cool.

    This is a similar story during the winter, as there is an upsurge in the use of heating solutions to battle cold spells. Appliances also continue to incorporate high kWh usage, which further contributes to the demand for energy.

    While this guide could list the current mWh price, this is likely to be outdated after the first day of being published. A solution to this issue is by taking a look at the recent history of mWh and its general unit cost.

    Analysing the past energy market

    Throughout 2023, wholesale energy prices have experienced a decline, providing some relief to households and businesses across the UK. However, it’s essential to acknowledge that they remain higher than pre-energy crisis levels. Let’s review the key factors contributing to this increase:

    • The invasion of Ukraine by Russia led Germany to suspend the transit of gas via the Nord Stream 2 pipeline. This pipeline, designed to double the annual capacity of Nord Stream 1 from 55 billion cubic meters (BCM) to 110 BCM, was impacted significantly.
    • Russia took further measures by reducing the capacity of the Nord Stream 1 pipeline to 20% before completely ceasing the supply. Considering that Russia typically provides about 40% of Europe’s natural gas, this had a substantial impact.
    • Recent updates confirm that this is when all reforms will start. All TNUoS charges will increase.
    • Europe faced an exceptionally harsh winter, with freezing conditions in northern and central Europe. This led to a surge in gas usage and depletion of natural gas storage supplies.

    Get the best prices and deals on your utilities

    Immediate pricing access to almost all UK suppliers

    Utility Bidder
    Business Gas

    Business Gas

    Immediate pricing access to all major UK gas suppliers. We can save you upto 65% on your business gas prices.

    Business Electricity

    Business Electricity

    We manage 20,000 electric meters for our commercial customers – So you’re in safe hands.

    Business Energy

    Business Energy

    We’ll find the best prices and provide you with a hassle free service for both your business gas and electricity….

    Business Water

    Business Water

    With our help. You’ll get a better quality service, lower water bills and better value for money.

    Compare business electricity rates and business gas prices

    It only takes a couple of minutes to save £100's on your utility bills

    Go Back
    x

    Get your estimated savings in minutes

    We compare live prices from 27+ suppliers

    Get a quote in minutes Compare top UK suppliers Best price guarantee

    Trustpilot Logo

    Rated Excellent on Trustpilot
    (Over 2,500 Reviews)

    Get immediate pricing Save up to 65%
    Choose your business address

    Can’t see the address? Enter manually

    Are you comparing for a business or home?

    Business

    Home


    Go Back
    Select Utility
    Now please select a utility I want to get prices for...
    Gas
    Electric
    Gas & Electric
    Water
    Go Back
    Next
    Please enter your business gas information
    How much do you spend & how often?

    An estimate is fine if you don't have a bill to hand

    Go Back
    Get Prices

    Let’s save time, can we automatically gather meter information?

    ? What does this mean?
    To get your quotes at lightening speed we need several key pieces of information which can all be found on your electricity bill. But by simply ticking this box, we can search ‘industry held data’ to get your meter number, electricity consumption and current energy supplier. This means that we can get you quick quotes without asking you to dig out all of your paperwork. This is personal data therefore we need you to allow us to access this information.
    Go Back

    Do you know your electric meter number?

    Does your meter number end in any of the following?

    Go Back
    Enter meter number
    I don’t know
    Please enter your business electricity information
    How much do you spend & how often?

    An estimate is fine if you don't have a bill to hand

    Start date for a new contract?
    Get Prices
    Please enter your water information
    How much do you spend & how often?

    An estimate is fine if you don't have a bill to hand

    Go Back
    Get Prices

      Enter your details below to get quotes We’ve helped over 90,000 businesses