rwmjBritain today generating 90%+ of electricity from renewables
> Britain paying highest electricity prices in the world for second year running
> Ed Miliband’s net zero targets are facing fresh scrutiny after Britain was found to be paying the highest electricity prices in the developed world.
> New data published on Tuesday showed the price paid by UK industry for power was 63pc higher than in France and 27pc higher than in Germany.
> Britain is also the second-most expensive country in the world for household electricity, with billpayers paying twice as much as those in the US.
https://www.yahoo.com/news/articles/britain-paying-highest-e...
Yes. But these things can be orthogonal. Or actually brcause gas is expensive.
https://www.bbc.com/news/articles/crkep1vx3mro
The price for wholesale electricity is set by a bidding process, with each generating company saying what it would be willing to accept to produce a unit of electricity.
Once built, the cost of generating power from renewables is very low, so these typically come in with the cheapest bid. Nuclear might come next.
Gas generators often have the highest costs, because they have to buy gas to burn, as well as paying a "carbon price" - a charge for emissions.
The wholesale cost is set by the last unit of electricity needed to meet demand from consumers. This means that even if gas only generates 1% of power at a given time, gas will still set the wholesale price.
Yeah I'm in the UK and for electricity, I'm on the green Octopus Agile tariff, which tracks the wholesale price updating every 30 mins. Given the abundant green energy today, and peak times between 3-7pm, right this second I'm paying £0.02/kWh, but at 6pm, I'll be charged £0.40/kWh. In the coming months with gas supply reduced, and consumer demand steady, it will have a knock on impact to me given it tracks wholesale cost so I'll have to consider moving off the tariff given I'll be paying more overall.