Falling temperatures pushed up gas and power prices
During November, temperatures fell 50% on average, compared to October. The colder weather prompted a rise in demand and increased storage use throughout the month, with both Rough and Holford supplying the system.
The increase in demand and storage use helped push up the price of gas, which fed through into power markets. The day-ahead electricity contract climbed 9.4% to average £52.8/MWh in November and was supported by reduced nuclear and wind generation.