Electricity: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the potential impact of higher levels of renewable generation on seasonal variations in wholesale electricity prices.
Answered by Michael Shanks
Increasing participation of renewables in the wholesale market means that over time, we can take advantage of the cheaper electricity produced by renewable technologies.
Any seasonal variation in wholesale prices will be driven by seasonal variation in both supply and demand. Accelerating the deployment of renewables, through our Clean Power 2030 Mission, will reduce the amount gas is setting the price and rapidly decouple electricity from gas prices, which will reduce the exposure of consumer bills to volatile international prices.
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