EU raises renewables target as UK power prices drop

The Haven Power market report is your weekly update on energy market changes over the last 7 days.

Register now!

By Freddie Rand

The Haven Power market report is your weekly update on energy market changes over the last 7 days.

Here’s a summary of the week:

  • The recent downward trend in prices continued for most UK power contracts.
  • High wind output caused a significant drop in UK day-ahead price.
  • Saudi Arabia and Russia hinted at oil production rises, pushing UK gas and power prices down.
  • National Grid reduced wind generation, resulting in negative system prices.
  • The EU informally agreed to increase 2030 renewable energy target to 32%.

This market 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.

This is a promoted article.