UK energy prices eased back down today after shooting up over Tuesday night, according to the daily market report from npower.
Steven Walker, Client Portfolio Manager at npower said the change came “after a strong session yesterday, which saw November ’14 UK baseload power gain almost £1 per megawatt hour (MWh) overnight.”
Prices for November got to £50.50 per MWh yesterday, which is fairly high for gas compared to November prices trading in July.
They were back trading at around the £50 mark today, Mr Walker told ELN.
The earlier jump came despite temperatures of around 3 or 4 degrees above normal for this time of year, he said.
On the supply front, it’s worth noting that as of 6 October, 1GW of French capacity will be offline for around two weeks for planned maintenance, he said.