UK Utilities & Power Corporate Bond Yields (GBP)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/gbp-corporate-utilities-power
UK Utilities & Power Corporate Bond Yields (GBP) as of 2026-07-27: 10Y at 6.15%, fitted curve 6M–40Y (5.04%–7.10%), 84 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 6M | 5.04% | — |
| 9M | 5.06% | 5.09% |
| 12M | 5.07% | 5.13% |
| 18M | 5.12% | 5.20% |
| 2Y | 5.16% | 5.30% |
| 3Y | 5.26% | 5.46% |
| 4Y | 5.37% | 5.71% |
| 5Y | 5.50% | 5.99% |
| 6Y | 5.63% | 6.28% |
| 7Y | 5.76% | 6.57% |
| 8Y | 5.90% | 6.85% |
| 9Y | 6.03% | 7.09% |
| 10Y | 6.15% | 7.29% |
| 15Y | 6.58% | 7.44% |
| 20Y | 6.65% | 6.84% |
| 25Y | 6.76% | 7.19% |
| 40Y | 7.10% | 7.67% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.16% and the 10-year 6.15%, a 10Y−2Y spread of +99 bp — positively sloped — as of 2026-07-27. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-07-27 | 1m ago2026-06-26 | 2m ago2026-05-28 | 3m ago2026-04-28 | 4m ago2026-03-30 | 5m ago2026-02-27 | 6m ago2026-01-28 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.16% | 4.92% | 5.06% | 5.16% | 5.23% | 4.23% | 4.44% |
| 10Y | 6.15% | 5.81% | 5.94% | 6.00% | 6.09% | 5.47% | 5.65% |
| 10Y − 2Y | +99 bp | +89 bp | +88 bp | +84 bp | +86 bp | +124 bp | +121 bp |
Yields by rating group
The same curve split by credit quality: 113 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.83%, A+ to BBB- 5.92%, Speculative 6.47%.
Bonds in this curve
A selection of 30 of the 115 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Scotland GAS Networks PLC | 4.70% | 2027-03-08 | 3.25% | XS1375954945 |
| National Grid Electricity Distribution (South West) PLC | 5.41% | 2027-03-25 | 5.88% | XS0165510313 |
| London Power Networks PLC | 4.79% | 2027-06-07 | 6.12% | XS0148889420 |
| Anglian Water Services Financing PLC | 5.66% | 2027-10-05 | 4.50% | XS0764876693 |
| Northumbrian Water Finance PLC | 5.52% | 2027-10-05 | 2.38% | XS1694779734 |
| United Utilities Water Finance PLC | 5.15% | 2027-12-20 | 5.62% | XS0159728236 |
| Scottish Hydro Electric Transmission PLC | 4.94% | 2028-03-24 | 1.50% | XS2321663473 |
| Electricite de France SA | 5.20% | 2028-05-30 | 6.25% | XS0367001061 |
| National Grid Electricity Transmission PLC | 5.13% | 2028-07-07 | 1.12% | XS2200513153 |
| Centrica PLC | 5.28% | 2029-03-13 | 4.38% | XS0753789980 |
| Southern GAS Networks PLC | 4.95% | 2029-03-21 | 4.88% | XS0232335769 |
| Yorkshire Water Finance | 5.85% | 2030-04-28 | 5.25% | XS2591021113 |
| National Grid Electricity Transmission PLC | 5.52% | 2031-01-13 | 7.38% | XS0407912053 |
| Anglian Water Services Financing PLC | 5.92% | 2031-06-20 | 5.88% | XS2638380506 |
| Electricite de France SA | 5.42% | 2031-07-18 | 5.88% | XS0132424614 |
| Tennessee Valley Authority | 5.41% | 2032-06-07 | 5.62% | US880591DP40 |
| Southern Electric Power Distribution PLC | 5.36% | 2032-06-07 | 5.50% | XS0139563166 |
| Severn Trent Utilities Finance PLC | 5.82% | 2033-02-22 | 2.62% | XS2445344570 |
| Yorkshire Water Finance | 6.40% | 2033-07-22 | 6.00% | XS3121682515 |
| Cadent Finance PLC | 5.96% | 2034-03-14 | 5.75% | XS2596453014 |
| Electricite de France SA | 5.90% | 2034-06-02 | 6.12% | FR0010763177 |
| National Grid Electricity Transmission PLC | 5.91% | 2035-02-06 | 2.75% | XS1884008928 |
| Cadent Finance PLC | 5.86% | 2035-04-05 | 5.75% | XS2607040792 |
| Severn Trent Utilities Finance PLC | 6.12% | 2036-04-04 | 5.25% | XS2607194086 |
| Southern GAS Networks PLC | 6.25% | 2036-09-15 | 3.10% | XS1791704932 |
| Vattenfall AB | 6.18% | 2039-04-15 | 6.88% | XS0422688019 |
| Anglian Water Services Financing PLC | 6.84% | 2039-06-20 | 6.00% | XS2638381819 |
| Cadent Finance PLC | 6.64% | 2046-09-22 | 2.75% | XS1492681116 |
| Northern Powergrid (Yorkshire) PLC | 6.55% | 2050-04-01 | 6.12% | XS3038670231 |
| Electricite de France SA | 7.09% | 2064-11-08 | 6.50% | FR001400TU80 |