United Kingdom Investment Grade Utilities & Power Corporate Bond Yields (GBP)
Fitted spot curve as of 2026-10-26
https://bondscovery.com/yield-curve/gbp-corporate-utilities-power-united-kingdom
United Kingdom Investment Grade Utilities & Power Corporate Bond Yields (GBP) as of 2026-10-26: 10Y at 6.53%, fitted curve 3M–25Y (5.04%–6.73%), 62 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 5.04% | — |
| 6M | 5.10% | 5.28% |
| 12M | 5.21% | 5.40% |
| 18M | 5.33% | 5.64% |
| 2Y | 5.44% | 5.87% |
| 3Y | 5.65% | 6.20% |
| 4Y | 5.84% | 6.60% |
| 5Y | 6.01% | 6.92% |
| 6Y | 6.16% | 7.17% |
| 7Y | 6.28% | 7.35% |
| 8Y | 6.38% | 7.47% |
| 9Y | 6.47% | 7.53% |
| 10Y | 6.53% | 7.55% |
| 15Y | 6.71% | 7.44% |
| 20Y | 6.73% | 6.97% |
| 25Y | 6.67% | 6.11% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.44% and the 10-year 6.53%, a 10Y−2Y spread of +110 bp — positively sloped — as of 2026-10-26. 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 | Latest2026-10-26 | 1m ago2026-09-25 | 2m ago2026-08-27 | 3m ago2026-07-28 | 4m ago2026-06-29 | 5m ago2026-05-29 | 6m ago2026-04-29 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.44% | 5.42% | 5.15% | 5.19% | 4.96% | 5.03% | 5.28% |
| 10Y | 6.53% | 6.43% | 6.14% | 6.15% | 5.87% | 5.94% | 5.91% |
| 10Y − 2Y | +110 bp | +101 bp | +98 bp | +96 bp | +91 bp | +91 bp | +62 bp |
Yields by rating group
The same curve split by credit quality: 81 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.20%, A+ to BBB- 6.32%.
Bonds in this curve
A selection of 30 of the 81 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Scotland GAS Networks PLC | 4.69% | 2027-03-08 | 3.25% | XS1375954945 |
| London Power Networks PLC | 4.41% | 2027-06-07 | 6.12% | XS0148889420 |
| National Grid Electricity Transmission | 5.03% | 2027-06-08 | 4.00% | XS0789331948 |
| Anglian Water | 5.50% | 2027-10-05 | 4.50% | XS0764876693 |
| Northumbrian Water Finance PLC | 5.43% | 2027-10-05 | 2.38% | XS1694779734 |
| Scottish Hydro Electric Transmission PLC | 5.12% | 2028-03-24 | 1.50% | XS2321663473 |
| National Grid Electricity Transmission | 5.54% | 2028-07-07 | 1.12% | XS2200513153 |
| Cadent | 5.56% | 2028-09-22 | 2.12% | XS1492680902 |
| SSE PLC | 5.23% | 2028-11-20 | 8.38% | XS0399111912 |
| Severn Trent | 5.64% | 2029-06-07 | 6.25% | XS0097777253 |
| Anglian Water | 5.78% | 2029-10-26 | 2.75% | XS1895640404 |
| Yorkshire Water | 6.28% | 2030-04-28 | 5.25% | XS2591021113 |
| National Grid Electricity Transmission | 5.91% | 2031-01-13 | 7.38% | XS0407912053 |
| Anglian Water | 6.28% | 2031-06-20 | 5.88% | XS2638380506 |
| Anglian Water | 7.28% | 2031-08-27 | 6.75% | XS3165250245 |
| South West Water Finance PLC | 6.29% | 2032-12-11 | 5.75% | XS2956847805 |
| Severn Trent | 6.22% | 2033-02-22 | 2.62% | XS2445344570 |
| Yorkshire Water | 6.80% | 2033-07-22 | 6.00% | XS3121682515 |
| Anglian Water | 7.60% | 2033-08-18 | 6.38% | XS3298819973 |
| South Eastern Power Networks PLC | 6.03% | 2034-09-30 | 1.75% | XS2389042263 |
| National Grid Electricity Transmission | 6.22% | 2035-02-06 | 2.75% | XS1884008928 |
| Yorkshire Water | 6.93% | 2035-04-28 | 5.50% | XS2591021972 |
| Severn Trent | 6.41% | 2036-04-04 | 5.25% | XS2607194086 |
| SGN | 6.53% | 2036-09-15 | 3.10% | XS1791704932 |
| SW (Finance) I | 7.57% | 2037-05-28 | 3.00% | XS2180916871 |
| Anglian Water | 7.12% | 2039-06-20 | 6.00% | XS2638381819 |
| Eastern Power Networks PLC | 6.44% | 2039-10-02 | 5.38% | XS2911000235 |
| Cadent | 6.93% | 2046-09-22 | 2.75% | XS1492681116 |
| Northern Powergrid (Yorkshire) PLC | 6.68% | 2050-04-01 | 6.12% | XS3038670231 |
| South Staffordshire Water PLC | 8.17% | — | 4.00% | GB0008267675 |