Tight margins are to characterise this year’s winter period, with significant price spikes in the Balancing Mechanism possible.
A fire at National Grid’s IFA1 interconnector site in Sellindge is to see power prices once again spike in the UK as 1GW of capacity drops off the system.
Following the tight margins seen on the electricity system last winter, National Grid ESO has released an early view of its winter outlook.
Electricity demand in Great Britain returned to pre-COVID-19 levels in Q1 2021, with tight margins being a common feature of the quarter.
This week once again saw tight margins in Britain’s electricity network, as winds dropped off and temperatures remained low, causing day ahead prices to hit a high of £499.92/MWh in N2EX.
The imbalance price reached a high of £4,000/MWh on Friday evening, capping off a dramatic week in the energy market.
National Grid ESO has once again issued an Electricity Margin Notice (EMN), its second this week and fifth this winter.
It has been a tumultuous weekend for energy prices in the UK, with an unprecedented day-ahead clearing price for a Sunday of £350/MWh.