The default tariff price cap is set to increase by £66 from April 2021 as wholesale power prices jump.
Mutualisation of Renewables Obligation triggered for third year as suppliers struggle to meet payment deadlines
For the third year in a row, mutualisation of Renewables Obligations (RO) has been triggered according to Ofgem.
New modelling by Cornwall Insight has predicted that Great Britain could become a net exporter of power to the European continent by the 2040s.
The risk of Renewable Obligation (RO) mutualisation has grown, as the supply market continues to be challenging.
The Balancing Mechanism (BM) was used twice as much throughout April and May 2020 as the previous year, due to the impact of COVID-19.
The upcoming Contracts for Difference (CfD) auction is set to be highly competitive, with over 10GW of capacity likely to compete.
Energy demand reached a new low in the UK over the bank holiday, setting two new records according to Drax Electric Insights.
Low demand and a sunny weekend sent power prices plunging into negative figures on the day-ahead hourly market for the third time as generation hit a new record.
As negative pricing becomes increasingly common, Cornwall Insight's Tim Dixon explores what's driving the trend and how it's likely to change in the coming year.