Day-ahead power prices hit their highest level on Cornwall Insight records. Discussing this in the Financial Times, Joe Camish, Senior Analyst at Cornwall Insight, said that these highs were due to a combination of factors, including a global shortage for gas.
He explained that if prices continue, the effect will be felt not just by industry but consumers as well.
It is conceivable that the level of the price cap could rise by 10 per cent or more if wholesale prices keep climbing.
Joe Camish
