April price bump on Economy 7

markin

QrizB said:

markin said:

The is still a huge glut of power at night

If you check the wholesale prices at eg. Nordpool you'll see that night-time electricity is usually still quite expensive. There's rarely a glut.

At night Gas is around 10% with wind being 40% - 50% and Demand is 11GW lower, the is plenty of power to go around, it looks like it only go's negative price for around 30min a night but the average price is far too high, is 10% of gas really dictating the entire production price that much?

.. Looking at last Feb, day peak 70, night under 30 all night long, so even double it should be under 60 on average?

Maybe OFGEM should put a profit cap on the producers.

EssexHebridean

markin said:

The is still a huge glut of power at night, it seems to be pure profiteering, Maybe as they cant charge the full cost on day rate to other customers they are trying to offset it at night, but its still not right, and we aren't even all charging up cars or running heat pumps yet.

UW have until now been by a long way the cheapest on the night rate as far as I know. I was fully expecting it to take a massive hike, but more than doubling is a bit of a kick in the teeth. I suspect they may well lose their advantage on price now - although at the moment still getting anyone to take us over on SVT might well be a challenge.