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Is this electricity price correct?

AJJewsbury

From the Drax dashboard

if my maths is right £2,900/MWh is 290p/kWh!

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    As a bit of background, it seems that the prices quoted by Drax are the "spot" prices - for power to be delivered immediately and looks to consist of about 5% of volume, another 5% is traded a-day-ahead, and the other 90% is by long term contract between generators and suppliers. So only a small fracton of the power in the grid at peek times yesterday would have cost that much.

      - Andy.

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    As a bit of background, it seems that the prices quoted by Drax are the "spot" prices - for power to be delivered immediately and looks to consist of about 5% of volume, another 5% is traded a-day-ahead, and the other 90% is by long term contract between generators and suppliers. So only a small fracton of the power in the grid at peek times yesterday would have cost that much.

      - Andy.

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