Covid-19
December-19 to September-20
Record low prices for Summer 20 (£27 MWh) and Winter 20 (£38 MWh). Due to lockdowns in the UK & EU, the demand for power and gas was at a record low which had a major effect on prices. Oil at one point went into negative figures and was traded as low as $16 p/barrel in April. Suppliers added risk premiums into the unit rate due to credit purposes.
European Union Emissions Trading Scheme (EUETS)
December-19
When the Brexit transition period ended on 31 December 2020, the UK left the EU's Emissions Trading Scheme – a key pillar of the EU's policy to decrease greenhouse gas emissions across its member states as well as Iceland, Norway and Liechtenstein
UK operators were required to comply with the EU ETS until the end of the scheme year in April 2021. A new UK Emissions Trading Scheme (UK ETS) launched on 19 May 2021.