The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: rangerrebew on June 26, 2021, 04:05:11 pm
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Power Prices Rocketing
June 25, 2021
tags: carbon tax
By Paul Homewood
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https://www.catalyst-commercial.co.uk/works/june-2021-energy-market-brief/
It’s rather been under the radar and seems to have attracted little attention in the media, but this year we have seen a massive rise in wholesale power prices, which currently stand 70% higher than a year ago. In part this simply reflects a recovery from pandemic lows, but as the OFGEM chart below shows, historically prices have rarely got above £60/MWh, so we are now in unknown territory. (The OFGEM chart is only up to Feb 2021).
electricity-prices-day-a
https://www.ofgem.gov.uk/energy-data-and-research/data-portal/wholesale-market-indicators
Power prices closely follow gas price trends, because gas-fired generation is the marginal source of supply:
https://notalotofpeopleknowthat.wordpress.com/2021/06/25/power-prices-rocketing/
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Exactly what one would expect if the primary criteria is not cost of produced product.
And unreliability also has a price