UK power prices rocket in evening peaks

Low wind production forecasts have pushed UK Day-Ahead (DA) auction prices above 400 £/MWh, with hourly prices peaking at 1500 £/MWh for delivery 16-17 Dec. These high power prices arise as already high fuel costs are further exacerbated by higher than normal nuclear outages in France (two further outages announced causing Jan-22 French power prices to surge far above 500 EUR/MWh), continued interconnector outages (along with explicit nominations) and low renewables.