Highlights UK power prices up 30% in a month High prices affecting whole economy 50% retail price hike expected in spring Energy prices across Europe are now so high that they are becoming a ‘systemic’ issue for major economies, CEO of trade association Energy UK Emma Pinchbeck said Dec. 23.
Energy-intensive companies and generators are being asked to turn down plants by governments, or changing output “as a reflection of the cost of energy and the knock-on effects on-demand,” Pinchbeck said, speaking on the BBC. Prices are “at levels that we frankly have not really faced in the industry, particularly not in a winter period,” she said. S&P Global Platts assessed the price of UK day-ahead baseload power at GBP327.15/MWh ($437.63/MWh) on Dec. 22, up 33% since the start of the month. Prices in […]