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.
Power prices tumble amid mild winter and record renewable output
