The windy weather pushed power prices down below zero last week, hitting a low of -£61/MWh according to EnAppSys. On Thursday (11 March) night prices dipped to the low level, continuing the trend of increasing periods of negative prices in the UK. For example, in 2019 there were 133 occurrences of negative imbalance pricing events according to Cornwall Insight. This continued into 2020, with 80 hours of negative pricing in the first nine months, three to four times higher than between 2015 and 2018. It dropped to a low of -£38.80/MWh, recorded on 23 May 2020 at 15:30, EnAppSys found.
Current 16th March 2021 read more »
Households would be automatically refunded any overpayments on energy bills in plans tabled by the regulator to end companies using customers’ money incorrectly. Under the current system, those who pay their bill by direct debit pay a fixed amount each month, typically overpaying in the summer months when usage is low in order to build up credit which can be drawn on throughout the winter. However, this can lead to companies holding extra cash at the end of the year and Ofgem, the industry regulator, estimated in 2018 that as much as £1.4bn was being held in surplus credit balances.
Telegraph 17th March 2021 read more »
Times 17th March 2021 read more »