wholesale power price

Cornwall Insight has confirmed that the latest forecasts for the Default Tariff Cap have seen energy bill predictions fall to £3,208 from April 2023 as a result of positive gas storage and demand reductions in Europe.

​From April, UK businesses and other non-domestic energy users will see a unit discount of up to £19.61/MWh applied to their electricity bill, the Government has announced.

“Gas prices are expected to remain high and volatile for the foreseeable future. The forward wholesale gas curve suggests prices will remain significantly elevated into the coming winter period and seasons beyond,” said Sam Peek, senior analyst of assets and infrastructure at Cornwall insight.

Businesses and public sector organisations in the UK will see a discount on energy bills this month via the Energy Bill Relief Scheme.

​Government announces plans to sever the link between renewables, nuclear and gas prices in new Energy Prices Bill.

The UK Government has announced plans to almost half the predicted MWh price for electricity and gas for businesses this winter, to £211/MWh and £75/MWh respectively.

​Some businesses will face energy bills five times higher than they’re currently paying from October, according to new analysis from Cornwall Insight.

In the latest issue of our Current± Price Watch series – powered by LCP Enact – we take a look at how Dynamic Containment fared in July, the continued concerns over the impact of high wholesale prices over the coming winter, and how Britain’s support of the Lionesses caused a demand spike.

Ofgem’s approach to licensing and monitoring increased the risk of supplier failures, a new report from the National Audit Office (NAO) has found.

The government has set the forthcoming T-1 Capacity Market auction target volume at more than 5.36GW in response to what it has described as “broader uncertainties within the power sector”, meaning all participating assets in the auction are set to gain contracts at the maximum price of £75/kW per year.