That’s according to the most recent data from EnAppSys, which suggests the combined power generated from wind, solar, biomass and hydro stations soared to 26.2 terawatt-hours (TWh) during Q3, marking the highest-ever figure for this period.
The record-breaking performance in renewable energy was driven primarily by a substantial surge in wind generation, contributing 16.2TWh to the total, which significantly influenced lower wholesale prices observed throughout the quarter.
The wholesale prices experienced a substantial 12% decrease in Q3 compared to the previous quarter.
The average day-ahead price in the EPEX auction stood at £78.08 per megawatt-hour (MWh), with a slightly higher average of £78.36/MWh in Nordpool.
This ongoing decline in prices began in Q4 2022, resulting in the lowest quarterly average since Q3 2021.
Nonetheless, the wholesale prices did exhibit fluctuations within the quarter, primarily due to robust wind output, diminished demand and volatile fuel prices.
Q3 recorded a total demand of 50TWh, marking the lowest level for any Q3 in recent years and aligning with a continuous trend of declining demand seen throughout the year.
Furthermore, interconnector flows contributed a net import of 3.7TWh to GB during Q3, reflecting a notable reduction from the 7.4TWh reported in the previous quarter.