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We are pleased to present our latest GB wholesale power market summary report. This report combines the highlights from our previous GB system, wind, company and plant performance notes.

Key highlights from March 2020 include:

  • Through a combination of lower fuel prices, carbon prices and demand, COVID-19 resulted in a month-on-month decline in power prices of £1.0/MWh to £28.5/MWh in March – the lowest in a decade
  • With higher temperatures and lockdowns in place, monthly power demand fell by 10% compared to February. The dip is most notable in the last week of March, where social distancing measures resulted in demand declining by an excess of 4 GW during working hours relative to the start of March
  • Despite the decline in demand, monthly emissions increased by 0.4 MtCO2 (or 13%) relative to February as gas generation increased by 1.7 TWh to compensate for a dip in wind production
  • With an 8% decrease in wind capture prices and a 16 p.p. average decrease in wind load factors, wind assets saw a 10% dip in monthly gross revenues relative to February

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