UK Energy Price Cap Predicted to Fall in Autumn - ICIS Data
Summary
On 1 April, Ofgem, the body responsible for the regulation of the UK energy market, raised the price cap on default retail gas and power tariffs by 10%, or £117, to £1,254 per year. Healthy gas supply meant that prices collapsed from the start of the winter, as energy traders hurried to factor in unseasonably mild weather and muted demand. As Jamie Stewart, Managing Editor at ICIS, said, "Fundamentals suggest that prices can continue to fall going into summer months with more LNG heading towards the UK particularly from the US. The IPI gives independent insight into wholesale power prices for both households and industrial electricity consumers, based on real market trading. Notes to Editors The ICIS Power Index Analysis April 2019 supporting these pricing assumptions is available on request by contacting:
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