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 […]

By Freddie Rand

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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