The T-1 Capacity Market (CM) auction has cleared at a record high price of £45/kW/year on day one.
In January, EDF was paid more in three days than it did in Q3 2020, as low winds and cold temperatures pushing National Grid ESO’s ability to balance the system.
The volatility in the energy market has continued this week, with National Grid ESO issuing another Electricity Market Notice (EMN) while day ahead prices just to almost £1,500/MWh.
The first week of 2021 has been a turbulent one for the UK’s energy market, with price spikes and tight margins keeping traders on their toes.
Great Britain’s tumultuous energy week has continued, with system tightness leading to West Burton B being called at £3,000/MWh yesterday (6 January).
The UK power industry has lost £1.1 billion due to the impact of COVID-19, according to energy trading company Hartree Solutions.