Russia-Ukraine war sends GB power prices soaring to all time highs despite record wind output

Average day-ahead, within-day and system prices in Q1 2022 all more than tripled compared to Q1 2021 as a result of the Russian invasion of Ukraine, EnAppSys has found.

During Q1 2022, the average EPEX day-ahead price was £200.80/MWh, while the corresponding Nordpool price was £199.63/MWh — over triple the average prices for the same auctions in Q1 2021. Within day price averages also tripled from £59.62/MWh in Q1 2021 to £194.30/MWh.

Average system prices of £197.64/MWh, meanwhile, were the highest on record, although the peak price in an individual settlement period fell around £2/MWh short of the all-time high peak system price seen in Q3 2021.

The Q1 2022 average day-ahead, within-day and system prices were also more than six times the levels seen in Q1 2020.

Read more: Current+

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By |2022-05-09T10:23:12+00:00May 13th, 2022|News, Power Generation, Uncategorized, Wind|
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