Gas and Commodity Prices Rise, Power Follows
Cold temperatures push gas prices to multi-month highs, with power prices following upwards. Commodity prices also move higher. BEIS data shows record high low-carbon generation.
Last week both power and gas prices continued to rise, while underlying commodity prices also experienced gains. Day-ahead experienced the biggest gains, reaching £64.0/MWh on Friday. Rising gas prices seemed to be the main driver of costs this week, amid forecasts of colder weather. Outside the wholesale market, the latest statistics from the Department for Business, Energy and Industrial Strategy (BEIS) illustrates how our generation mix is changing. In 2017, low-carbon generation accounted for a record high 47% of electricity supply!