UK Power Surges to Record as Sub-Zero Chill Sends Demand Surging
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UK power prices for Monday jumped to record levels as freezing temperatures are set to cause a surge in demand, just as a drop in wind generation causes a supply crunch.
The day-ahead price settled at a record £674.78 a megawatt-hour on the Epex Spot SE exchange with the price for 5-6 p.m. clearing at an all-time high of £2585.80 a megawatt-hour. The Met Office has yellow weather warnings for snow and ice in place throughout the UK through Thursday.