Average power prices over the past two weeks have been eight times higher than the average in 2019, according to data from EnAppSys. Phil Hewitt, director of the energy market analyst, told Utility Week further supplier failures were inevitable and that retailers should be lobbying Ofgem to give them some relief from the price cap. He said many suppliers had been far too relaxed about actively trading in the intraday and advanced markets.
‘Suppliers spent a long time ignoring spot markets’
