EDF Energy

The renewable project will be based in Welsh and English waters, providing enough energy for more than 920k homes

The station will close in 2028 – two years earlier than previously thought

European energy prices have soared to unprecedented levels over the past few months, with gas and power supply concerns continually adding risk premium to the market. 

This is two years earlier than previously expected

The company will take over nearly 11,700 domestic customers of the collapsed Zog Energy

2021 has bought extreme price movements across commodity markets, with current power market volatility at the highest for at least 13 years.  The winter 2021 power price reached down to £42/MWh in March 2020, however recently touched a high of £118/MWh.

The price rise will affect customers on standard variable tariffs

The wholesale energy complex is ever-evolving, and fundamentals have changed drastically over the past year with weather, LNG supply, Brexit and COVID-19 at the forefront of the market.  The winter 2021 power price reached down to £42/MWh in March 2020, however recently broke a new high of over £70/MWh.

A new report finds the collective gas market share by non-large suppliers has grown from 17.0% in October 2005 to 56.2% in October 2020

As we entered this winter there were many uncertainties ahead, even more so than normal with weather, LNG supply, Brexit and COVID-19 at the forefront of the market. These uncertainties have certainly not disappointed with high volatility seen over the past few months.