UK energy prices lowest since 2010

UK energy prices are at their lowest level since 2010 ahead of the winter. The ICIS Power Index for the third quarter of the year stated energy prices have declined 19% […]

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By Jacqueline Echevarria

UK energy prices are at their lowest level since 2010 ahead of the winter.

The ICIS Power Index for the third quarter of the year stated energy prices have declined 19% in the last three months at £42.86/MWh.

This is the lowest quarterly average price compared to five years ago.

On the gas system, prices for delivery in the next year have averaged their lowest for a quarter at 43.095p/th.

According to ICIS, prices have reacted to lower fuel prices and macroeconomic trends.

Supply fundamentals, such as increased amounts of gas in storage and “greater” renewable electricity generation have also affected the market.

The “historical” trend of falling energy prices may have influenced them but supply margins remain tight, it stated.