Beast from the east

  • Power and gas networks

    The rise of wholesale gas prices … the saga

    It is certainly not a standard summer season for gas prices. Normally with demand for gas typically lower, we should see prices at the lowest levels of the calendar year. However, Summer 2021 gas prices are currently seeing bullish momentum with price points that we would expect to see in winter. In this ‘Chart of...

  • Home supply and services

    Chart of the week | Default tariff cap set to rise by at least £100 for coming winter

    The default tariff price cap for a typical dual fuel direct debit customer looks set to increase by over £100 for the Winter 2021-22 period, according to an initial assessment from Cornwall Insight’s bi-annual tariff cap predictor. The latest forecast for the cap indicates that it will increase to around...

  • Low carbon generation

    Chart of the week | One year on from ‘Beast from the East’

    On 1 March 2018, during ‘Beast from the East’, National Grid issued a gas deficit warning for the first time since the system was introduced in 2012. The warning followed multiple gas supply outages, including South Hook LNG terminal, Kollsnes gas processing plant, and the BBL interconnector. This resulted in...

  • Low carbon generation

    Chart of the week | PAR for the course?

    The recent cold weather resulted in gas system stresses and correlated spikes in gas commodity prices. These flowed through to the power market where peaking plant called on by the System Operator to manage the electricity system resulted in System Imbalance Prices (SIP) hitting £990/MWh on 1 March. Since November...