Tuesday 19 June 2018

EU raises renewables target as UK power prices drop

The Haven Power market report is your weekly update on energy market changes over the last 7 days.

Here’s a summary of the week:

• The recent downward trend in prices continued for most UK power contracts.
• High wind output caused a significant drop in UK day-ahead price.
• Saudi Arabia and Russia hinted at oil production rises, pushing UK gas and power prices down.
• National Grid reduced wind generation, resulting in negative system prices.
• The EU informally agreed to increase 2030 renewable energy target to 32%.

This market 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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