UK wholesale power prices dipped into negative pricing for more than six hours yesterday following an “unprecedented turn of events” in the country’s supply and demand profile.

Yesterday (Sunday 24 March 2019) witnessed the UK’s system price dip to -£50/MWh from settlement period 21 (10:00 – 10:30am) and remain negative until 4:30pm as the country basked in unseasonably warm and bright conditions.

Indeed, Limejump’s energy trading team noted that the price fell as low as -£70.24/MWh during settlement periods 28 and 29, a steep decline that it attributed to the “shock effect of the sudden sunny weather” that sent the public outdoors and system demand falling in tandem, resulting in what the energy trader billed as an “unprecedented turn of events”.

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