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Power prices tumble amid mild winter and record renewable output 

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.

7 months ago

Thousands more homes to be powered with Thames sewage

7 months ago

Developers given option to pay more to fast-track planning decisions 

8 months ago

Treat modular nuclear reactor costs with pinch of salt, warns academic

8 months ago

More than £1bn of annual subsidies up for grabs in this year’s CfD auctions

8 months ago

‘BECCS isn’t vital to meet net zero’, government told

9 months ago

Energy and water schemes make up half of UK’s planned £775bn infrastructure spend

9 months ago

Hinkley delay could benefit Drax

10 months ago

NAO raises doubts over sustainability of biomass plants

10 months ago

Strikes turn ugly at Drax after Xmas dinner is cancelled

11 months ago

Drax seeks ‘bridging mechanism’ for BECCS plant 

12 months ago

‘Not a single person in supply chain’ thinks UK will hit net zero targets

Not a single person in the supply chain believes UK net zero targets will be achieved. That is the damning conclusion of the Energy Industries Council’s (EIC) annual Survive & Thrive report into global energy supply chains. Based on the views of 96 supply chain bosses, the EIC report concludes that “widespread delays in project funding strongly signposts that the UK is not going to meet its legally binding 2050 net zero target, and neither will Scotland meet its 2045 target”.

1 year ago

Drax to end gas retail business

2 years ago

Gas exemption from generator levy branded ‘inexplicable’

2 years ago

REA: Reform farm subsidies to encourage biomass power

2 years ago

Government proposes dual CfD mechanism for BECCS

2 years ago

BEIS allocates £37m to bioenergy innovation projects

2 years ago

Drax faces challenge over biomass claims

2 years ago

What do the CCC’s recommendations mean for utilities?

2 years ago

Drax seeks consent for £2bn BECCS project

2 years ago

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