Conventional generation

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Power prices tumble amid mild winter and record renewable output

Wholesale power prices fell by more than a fifth between the final quarter of 2023 and the first three months of this year as mild winter weather and record renewable output suppressed gas demand. According to energy market analysts at EnAppSys, day-ahead power prices on the EPEX and Nordpool exchanges averaged £64.57/MWh and £64.45/MWh respectively in the first three months of 2024. This was around half the level seen in the same quarter last year and a drop of 22% when compared to the previous quarter’s figure of £82.50/MWh.

12 months ago

Energy consumption in 2023 fell to lowest in 50 years

12 months ago

Zonal pricing could push 10GW of offshore wind into Southern England

1 year ago

ESO holds first auction for new Balancing Reserve service

1 year ago

Link between gas and power prices rapidly diminishing

1 year ago

T-4 capacity auction clears at new record high of £65/kW

1 year ago

Consent granted for new gas power station fitted with CCS

1 year ago

Missing the Point: What a delay to Hinkley Point C means for the power market

1 year ago

Gas import rules could be relaxed to drive competition

1 year ago

Targets confirmed for upcoming capacity auctions

1 year ago

Gas turbines to be kept online to cover offshore wind delays

1 year ago

Fall in gas output drives grid emissions to record low

1 year ago

Another record high price expected in T-4 capacity auction

1 year ago

‘Triage’ process to prioritise strategic connections

1 year ago

SSE raises transmission investment forecast by £2.5bn

1 year ago

Generator faces £24m penalty for licence breach

1 year ago

UK threatens to leave Energy Charter Treaty

2 years ago

Ofgem cracks down on excess balancing profits

2 years ago

‘Sheer bloody mindedness’ to completely exorcise gas generation

2 years ago

New Balancing Reserve service to be fully open to smaller units

The Electricity System Operator (ESO) has reversed a decision that would have effectively ensured that a substantial portion of contracts for its proposed new Balancing Reserve service would be awarded to large gas plants. The body said its new position will fully open the market a wider pool of providers, including smaller and aggregated units.

2 years ago