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.
The energy firm admitted: ‘EDF ETG takes this issue extremely seriously and apologises for the error’
The zero carbon renewable ‘GoElectric 35 tariff’ offers the cheapest off-peak rate on the market at just 4.5p/kWh
The energy supplier is seeking to claim certain additional costs incurred after taking on former supplier Solarplicity’s customers last year
EDF’s James Chaplin explains.
It agreed to run at half capacity for a period of four months to help manage the impact of very low power demand on the grid