This Market Summary presents the March 2022 market data for GB. Metrics include power prices, demand, emissions by technology, and company and plant performance.

Key findings in this report include:

  • The average power price in March was £236.8 /MWh, a 51% (+£79.6 /MWh) increase from February. Onshore and offshore wind capture prices were similarly up over 50% compared to February while solar prices were up 38%.
  • The increase in power prices in March has been driven by a 59% (+£38.3/MWh) increase in gas prices, coupled with a 7% (1.5 TWh) increase in demand. This more than compensated for an 8.8% (-9.1£/tCO2) drop in carbon prices.
  • Onshore and offshore wind load factors fell significantly in March to 27% (-28%) and 39% (-31%) respectively, both below their historical monthly averages. Consequently, average CCGT load factors increased from 18% in February to 34% in March.
  • With reduced wind generation, domestic power sector emissions increased in March by 59% (+1.8 MtCO2e) to 4.4 MtCO2e compared to February.

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