Electricity Prices

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Ofgem puts forth plan for electricity costs on region level

Ofgem puts forth plan for electricity costs on region level: Ofgem has suggested a new plan that could have the UK shift from placing wholesale electricity prices at a national level to either a regional or local level. This is just one of the amendments of the UK’s energy system Ofgem proposed to help the…
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Dead end for carmakers?

Dead end for carmakers? The British automotive industry could be the next victim of rising energy prices. New reports from the Society of Motor Manufacturers and Traders (SMMT) displays firms face a £90m boost in their energy bills this year as prices climb by a staggering 50 percent. The report implies the UK electricity costs…
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Link between energy prices are temporary

Link between energy prices are temporary Linking electricity and gas costs can’t be the case forever. That’s the approach from the Business Secretary who discussed earlier during a session of the Business, Energy and Industrial Strategy Committee about the government’s plans to provide further support for customers struggling to pay their energy bills. “One of…
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More battery storage use may push up electricity costs

More battery storage use may push up electricity costs: Data shared by Cornwall Insight Australia, examining battery storage operations from June 2021 to May 2022, has shown a link between the increase in the amount of electricity dispatched from batteries and higher electricity prices. For the past several months, batteries have been filling the electricity…
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European energy price worse from Russia-Ukraine conflict

European energy price worse from Russia-Ukraine conflict: Russia`s invasion of Ukraine will aggravate Europe`s energy price crunch and put further strain on European gas storage, which is already at a multi-year low. The effect on gas and electricity prices will be amplified by Russia`s reaction to sanctions. Figure 1: European benchmark gas prices Source: Bloomberg,…
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EU hydrogen plans may put further stress on energy prices

EU hydrogen plans may put further stress on energy prices: The EU’s green hydrogen goals might see pressure for electricity soar by nearly 1/5 of overall electricity demand in 2030 risking to push energy prices even greater than the current levels. The Transport & Environment (T&E) campaign group stated that is equal to including the…
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