Tuesday 6 March 2018
Sub-zero temperatures send prices snowballing
The Haven Power market report: keeping you up to date with energy market changes over the last 7 days.
Here’s a summary of the week starting 26th February:
- Freezing temperatures in the UK sent gas and power prices soaring.
- Rising gas costs priced out Combined Cycle Gas Turbine (CCGT) plants, with coal filling in.
- High wind output did little to curb the rise in day-ahead prices.
- National Grid was forced to take expensive actions to balance the system.
- Demand on the National Grid was at its highest so far this year.
This report is particularly relevant if you’re buying electricity flexibly, or about to sign or renew a fixed electricity contract. Getting these decisions right can reduce your vulnerability to price-peaks in the wholesale market and save you money.
For the details – and our weekly analysis of day-ahead power, imbalance prices, renewable power, seasonal contracts and annual power – simply check out the Haven Power website for the full market report.
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