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Wholesale energy prices hit second highest level in at least three years
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Wholesale energy prices hit the second highest level in at least three years on Monday, adding pressure on suppliers struggling to secure electricity and gas at competitive rates.
Low wind speeds were to blame for pushing wholesale energy prices for the peak period between 5pm and 6pm over £2,000 per megawatt hour, only the second time they have surpassed this level since 2018.
The UK’s power grid was forced to turn to gas-fired power plants and coal to make up for the lack of wind power generation, a problem that has exacerbated the energy price crisis that started in August.
The price surge on Monday was still below the levels reached in mid-September when they hit £2,500 per MWh. The record wholesale prices have forced almost 20 energy
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