Analysts at Cornwall Insight have cut their forecast for average wholesale power prices over 2024 by 12% due to higher than expected gas reserves in Europe, which have alleviated fears of shortages this winter. The consultancy said they now expect power prices to average £113/MWh over the year – a reduction of £16/MWh when compared to their previous quarterly forecast of £129/MWh.
Analysts cut power price forecast for 2024
