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We are pleased to present our GB wholesale market summary for May 2021.

Highlights from the report include:

  • May saw power prices rise to £72/MWh driven by the continued increase in gas and carbon prices
  • The UK-ETS debuted on 19th May with allowances trading between £45–50/tCO2, ~8% higher than EU-ETS
  • Driven by higher gas and carbon prices, thermal generation in May decreased to 9 TWh as renewables output increased
  • Wind assets saw increased profitability in May as both load factors and capture prices increased by 11% and 12% respectively, relative to April
  • Year-on-year, system demand has recovered from the economic slowdown caused by COVID-19, driving up carbon emissions to 91% above 2020 levels

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