Joe Camish, Senior Analyst at Cornwall Insight, commented about the high wholesale energy prices in the market as power prices surged to more than four times their average level.
Regarding the future of wholesale prices, Joe said that GB would have to rely on older thermal assets to help ease the situation if similar situations occur.
If we have any situations similar to today where there is very low renewables output and margins remain tight, we will have to probably rely upon older thermal assets to help ease those margins.
Joe Camish
