During April, May and June we saw our day-to-day lives shift considerably as a result of the COVID-19 pandemic and lockdown. With millions furloughed or working from home and shops shut down for weeks and months on end – there were unprecedented impacts on the power system too.
During these months, power prices fell to their lowest in almost two decades, with Britain spending £1.3 billion less on electricity supply over the second quarter of this year compared to 2019. Lower oil and gas prices combined with a lower demand for electricity is to blame for this steep fall. Dramatic consumption changes mean that many large power consumers have had to reforecast their electricity usage.
This is a promoted article.