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Price of wholesale electricity in the UK reaches $1.17 per Kilowatt Hour
notalotofpeopleknowthat ^ | 8-29-2022 | Paul Homewood

Posted on 08/29/2022 7:10:48 AM PDT by brookwood

The price of wholesale electricity has a “futures” market. Companies are paying now to lock in their energy costs next winter. In the UK the cost for electricity in December 22 has risen to 1,000 British pounds per megawatt hour which is about $1.20 per kilowatt hour. This is 6 times the average price in the US.


TOPICS: Business/Economy
KEYWORDS: electricity; kilowatt; uk
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The price of wholesale electricity has a “futures” market. Companies are paying now to lock in their energy costs next winter. In the UK the cost for electricity in December 22 has risen to 1,000 British pounds per megawatt hour which is about $1.20 per kilowatt hour. Right now we pay about 20 cents per kilowatt hour. If we had to pay the same rate as the forward price in the UK that would mean in most northern states the monthly cost for heat would be about $5,400. Compare that to your rent.
1 posted on 08/29/2022 7:10:48 AM PDT by brookwood
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To: brookwood

Gee, the queen will have to turn off the lights in her closets to make ends meet!......................


2 posted on 08/29/2022 7:13:41 AM PDT by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
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To: brookwood

I’m curious how this will effect the migrant hotels.


3 posted on 08/29/2022 7:17:25 AM PDT by bak3r
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To: brookwood

Britain and almost all of Western Europe have committed cultural suicide. Economic consequences come with the neo pagan , epicurean decadence.


4 posted on 08/29/2022 7:21:46 AM PDT by allendale
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To: brookwood
This is coming to the US too. We can't shut down 100GW of reliable 24/7/365 baseload power to sacrifice on the altar of unreliable so called “sustainable” energy without there being the exact consequences described in the article.

Those of us with 40 years in the power industry aren't surprised at all.

5 posted on 08/29/2022 7:28:20 AM PDT by dynoman (Objectivity is the essence of intelligence. - Marilyn vos Savant)
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To: brookwood

Holy carp! I pay 5 1/2 cents per KWH. That would be a 2000% increase here.


6 posted on 08/29/2022 7:28:46 AM PDT by TangoLimaSierra (⭐⭐Public hangings will wake 'em up.⭐⭐)
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To: brookwood

“ While we can blame Russia for the current gas supply problems, the real cause of this looming disaster has been the government enforced shutdown of most of our coal generating capacity during the last decade:”


7 posted on 08/29/2022 7:29:28 AM PDT by kabar
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To: brookwood

Meanwhile, my retail price for electricity (including taxes and other misc charges) in Florida was 14.6 cents per kilowatt hour in the latest invoice.


8 posted on 08/29/2022 7:41:18 AM PDT by Presbyterian Reporter
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To: brookwood

Yikes! I was crying when my production cost went from 4.8¢ to 8.1¢ (plus a few non-negotiable cents for delivery) a couple months ago.


9 posted on 08/29/2022 7:46:37 AM PDT by KarlInOhio (The government sees you as either livestock or pet. If things get bad they will eat their pets too.)
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To: brookwood

If I understand this futures contract correctly, the wholesale electrical futures prices in the USA are in the 80 cents per kwh.

https://quotes.ino.com/exchanges/contracts.html?r=NYMEX_QV3


10 posted on 08/29/2022 7:50:37 AM PDT by Presbyterian Reporter
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To: Presbyterian Reporter

Huntsville, AL - 7.71 cents/kwh


11 posted on 08/29/2022 7:52:46 AM PDT by citizen (Thieves of private property pass their lives in chains; thieves of public prop. in riches and luxury)
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To: brookwood

Will the Brits soon be experiencing large scale blackouts on days when the wind isn’t blowing? How will Prince Charles keep his polo ponies warm this winter?


12 posted on 08/29/2022 7:53:52 AM PDT by The Great RJ
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To: brookwood
Price of wholesale electricity in the UK reaches $1.17 per Kilowatt Hour

Excellent, the Limeys can freeze to death in the dark.

13 posted on 08/29/2022 7:55:30 AM PDT by Navy Patriot (Celebrate Decivilization)
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To: brookwood

Really nasty winter ahead. This is what happens when you follow the rantings of a retarded Swedish teenager. Don’t listen to people who ride the electric powered short bus.


14 posted on 08/29/2022 7:56:40 AM PDT by ConservativeInPA ( Scratch a leftist and you'll find a fascist )
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To: brookwood

Most of the US pays about 12 cents, until the midterms, then we’ll see similar numbers.


15 posted on 08/29/2022 7:56:51 AM PDT by BobL (The Globalists/Neocons desperately want Ukraine to win...makes it easy for me to choose a side)
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To: kabar

Yes. That and Biden’s war on Energy (fossil fuels) companies.

Stop Keystone, stop leases, send government officials to harass oil executives with potential lawsuits, have the EPA try to enforce “carbon dioxide is a pollutant” BS, tell coal miners to “learn to code”, constant drum beat “Oil/Coal is bad”, etc., etc., all of which caused Trump’s economic miracle of oil independence to crumble and investment to plunge downward.

In a saner world, we could have met Europe’s energy demand; but then, Russia wouldn’t have attacked.


16 posted on 08/29/2022 8:00:40 AM PDT by Alas Babylon! (Rush, we're missing your take on all of this!)
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To: brookwood

It’s not a coinkydink that this is going on both sides of the Atlantic at the same time.

Deep States everywhere are doing their damndest to ensure Trump and Brexit are undone.


17 posted on 08/29/2022 8:03:00 AM PDT by mewzilla (We need to repeal RCV wherever it's in use and go back to dumb voting machines.)
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To: citizen

Who is your power company? Alabama Power is 14.7 per kilowatt hour...


18 posted on 08/29/2022 8:05:32 AM PDT by Alas Babylon! (Rush, we're missing your take on all of this!)
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To: brookwood
Time to start pedaling?


19 posted on 08/29/2022 8:06:58 AM PDT by Ellendra (A single lie on our side does more damage than a thousand lies on their side.)
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To: brookwood

Here is more info on electricity futures markets in the US.

North America Power Futures - CME Group

Power Trade PJM, MISO, NYISO, ISONE, ERCOT, CAISO and Ontario Monthly and Daily Peak & Off-Peak futures along with NYISO Capacity futures on NYMEX with CME Group. Enjoy competitive margins, execution costs and comprehensive offsets to some of the world’s most liquid energy products. Key Benefits

https://www.cmegroup.com/trading/energy/north-america-power-futures.html


20 posted on 08/29/2022 8:13:18 AM PDT by Presbyterian Reporter
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