Britain paying Europe 15 times the normal price for emergency electricity during heatwave

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Britain paying Europe 15 times the normal price for emergency electricity during heatwave.

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Britain's electricity grid has been thrown into crisis this week as the ongoing heatwave forced the country to pay extraordinary premiums for emergency power imports from the continent.

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On Wednesday evening, the UK shelled out close to £1,400 per megawatt hour for European electricity—roughly 1,600 per cent above typical rates and approximately 15 times normal wholesale prices.The National Energy System Operator (Neso) scrambled to secure supplies after domestic generation from solar and gas plants fell short of surging demand.

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The emergency purchases, totalling up to 2.3 gigawatts primarily sourced from the Netherlands, added an estimated £11million to consumer bills in a single evening.Neso required special permission from the EU to complete the transaction, as European nations had restricted sales to protect their own supplies during the extreme weather.The grid operator has now issued a second electricity margin notice this week, warning that supplies could be stretched again on...

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