Warm Weather Fades, Power Prices Rise
GB goes more than three full days without burning coal. Carbon prices could double by 2021.
Last week we saw high levels of renewables output and record low levels of coal-fired generation. Spot energy prices still moved higher as colder temperatures increased demand towards the end of the week. Great Britain set another new record this week after going over three days without using coal to generate electricity. Moving away from the wholesale market, the price of EU Emissions Trading Scheme allowances fell last week. That price could double by 2021 due to reforms to reduce the number of surplus allowances in the market.