Renewable energy further cemented its place in the UKs energy mix by breaking more records.
The energy mix for the third quarter of the year was comprised of; gas fired generation 40.5%, nuclear 16.1%, imports 3.9%, coal 0.4% and renewables 39%.
The record generation from renewables was helped by the record low demand as a result of the lockdown and the good weather that made wind turbines and solar panels more effective.
Coal power was not used for a record breaking 67 consecutive days, the longest run since the Industrial Revolution.
Also read: UK Energy Mix – The Types of energy production
With the lockdown easing and demand rising prices naturally followed suit despite record low wholesale energy costs.
Low wholesale prices during the lockdown prompted Ofgem to lower the energy price cap to its lowest ever level but now with concerns over the strength of the economy and rising unemployment the current price cap has been extended until the end of 2021.
Several energy suppliers have hiked their prices over the last few months with the most noticeable being Bulb who has raised electricity prices twice in 2020. More suppliers are expected to follow suit ahead of the winter when demand rises.
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For more information on how to start and manage an energy company, get in touch with Dyball Associates today.