Power blackouts in the UK have been deemed unlikely after the fall of wholesale gas prices across Europe. The National Grid had warned last autumn of a possibility of rolling power cuts if cold weather and shortages hit supply.
Prices for wholesale buyers have fallen sharply after a warm spell across the continent. According to The Guardian, European prices for delivery in February fell by 4.3% to €73.7 a megawatt hour, while UK prices fell by 3.8% to 179p a therm.
The next fortnight is forecast to remain mild, which has helped shore up optimism over gas supplies. The shortages stemmed from Russia reducing gas exports to Europe after its invasion of Ukraine.
