Oil, not wind, poses threat from the east

To stay up to date with the week’s energy market changes, check out the Haven Power market report covering the past 7 days. Here’s a summary of the week: Brent […]

By Freddie Rand

To stay up to date with the week’s energy market changes, check out the Haven Power market report covering the past 7 days.

Here’s a summary of the week:

  • Brent Crude prices surged, thanks to the threat of supply cuts from Saudi Arabia.
  • Milder weather subdued day-ahead prices.
  • National Grid paid offshore wind projects to stop generating, leading to a period of negative imbalance prices.
  • Combined Cycle Gas Turbine (CGT) plants also paid to not generate, to save on fuel costs.
  • The price of carbon exerted influence over the UK power curve.

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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