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Wholesale price of electricity surges amid fear of supply shortfall
Wholesale electricity prices surged higher yesterday amid mounting fears that the UK could face a supply shortfall next month.
The forward price of electricity for November hit highs of £133 per megawatt hour, up more than £10 since Friday, when the same contract was trading at about £122.75.
The price of power has risen sharply since National Grid published figures last week predicting an unusually thin margin between electricity supply and demand. For the week starting November 10, National Grid gave warning that the margin of spare capacity could be as slim as 0.8 gigawatts - the equivalent of one mid-sized coal-fired power station or the electricity consumed by a city the size of Nottingham.
More at: http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article4864031.ece?&EMC-Bltn=KNH6M9
I do think we should be doing more to reduce the amount of electricity we use. However there comes a point where you can't cut back anymore. With us for example everything that can be turned off when not in use is, maybe if more people did the same not only would they save money, would also help the environment and not have to worry about shortfalls.
The forward price of electricity for November hit highs of £133 per megawatt hour, up more than £10 since Friday, when the same contract was trading at about £122.75.
The price of power has risen sharply since National Grid published figures last week predicting an unusually thin margin between electricity supply and demand. For the week starting November 10, National Grid gave warning that the margin of spare capacity could be as slim as 0.8 gigawatts - the equivalent of one mid-sized coal-fired power station or the electricity consumed by a city the size of Nottingham.
More at: http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article4864031.ece?&EMC-Bltn=KNH6M9
I do think we should be doing more to reduce the amount of electricity we use. However there comes a point where you can't cut back anymore. With us for example everything that can be turned off when not in use is, maybe if more people did the same not only would they save money, would also help the environment and not have to worry about shortfalls.
It's PAC not PAC Code, it's MAC not MAC Code, it's PIN not PIN Number, it's ATM not ATM Machine, it's LCD not LCD Display, it's DVD not DVD disc... It's no one not noone, It's a lot not alot, It's got not gotten... Panini is the plural of panino - there is no S!!
(OK my English isn't great, the sciences, maths & IT are my strong points!)
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It looks like the national grid report has caused a few fears, but perhaps this report by the BBC puts the situation a little clearer
http://news.bbc.co.uk/1/hi/sci/tech/7638564.stmBut according to the National Grid, these surplus figures are not the whole story.
The total "surplus" capacity also includes the standard 4000-5000MW "safety cushion" that the National Grid incorporates in its weekly targets. The latest capacity forecast shows the UK is on target to achieve that 4000MW minimum, every week, for the remainder of the year...
"The margins of surplus capacity we are forecasting are similar to any other winter.
"If anything, forecasts have been worse in the past. We have published forecasts which predict a 'negative margin'.
"But when we do this, it prompts power generators to bring inactive plants back online in time to meet anticipated demand.""Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100 -
post 1 new news
post 2 old news
don`t get complacent or bury your head in the sand0 -
Errr...the BBC report is dated 27 September 2008 and both posts refer to the same original report issued by National Grid - a report that is often being taken the wrong way apparently.post 1 new news
post 2 old news
don`t get complacent or bury your head in the sand
Even if there is a problem, turning off a 11w energy saving lightbulb and sitting in the dark isn't going to help much.
Remember back in the early 70's when power was in short supply because of the miners strike? Remember what the solution was then? Close down factories for a day or 2 a week.
Well in the current climate, it appears the few factories we have left in this country are deciding for themselves to work on a 3 or 4 day week
http://www.ft.com/cms/s/0/ebf73f08-901a-11dd-9890-0000779fd18c.html
Published: October 2 2008 03:00 - is that new enough?
If you want to ensure you won't be affected by any higher prices in the near future, apply now for a fixed or capped rate."Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100 -
What is really needed is more advertising to save energy. A lot of people on this site maybe savvy and try to save energy by swithching off unused lights etc but there is an incredible number of people who just don't bother. If there was more advertising saying that there was an energy shortage and people should switch off as many lights as possible it may help.0
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National Grid on Thursday cut its November power surplus forecast for the second time in a week.
http://business.timesonline.co.uk/tol/business/industry_sectors/utilities/article4870571.ece0 -
wakeupalarm wrote: »What is really needed is more advertising to save energy. A lot of people on this site maybe savvy and try to save energy by swithching off unused lights etc but there is an incredible number of people who just don't bother. If there was more advertising saying that there was an energy shortage and people should switch off as many lights as possible it may help.
Definitely agree with this, my best friend uses her tumble dryer all day every day even in summer! because she can't be bothered to put a washng line up in her landscaped garden (would spoil the effect you see!), she also has lights on all day but doesn't care cos she can afford her £250 a month electric bill, I'm sure she's not the only oneAug GC £63.23/£200, Total Savings £00
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