Posted by noel shelley on 01/01/2022 14:24:37:
Having watched grid watch not sure it's data is correct. It states that there is no coal powered stations running and gas prices are low – REALLY ! Can some one enlighten me as to what I've missed, may be the last 3 or 4 months ? Noel.
Coal burning stations are often switched off these days. Not all that many left in the UK – Longannet in Fife was once the largest coal power station in Europe, closed in 2016, the massive 600 foot high chimney was demolished last month.
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Biomass is still being burned.
The wholesale cost of gas varies with demand. The spot price drops if no-one buys it, Could be because wind is doing well or industry are on holiday etc. Over a longer period, the price of Gas tripled since April last year, but during the last few days it's dropped sharply to 'only' about double April's prices. So gas is cheap compared with prices in mid-December 2021, but still scary expensive compared with April 2021. Be interesting to see how much it costs at the end of the month.
Wholesale gas prices also vary due to political rough and tumble. Much of it comes from Russia. Sometimes Mr Putin likes to lean on Europe by reducing supply, but opens up again when he realises he needs our money!
Dave