Wholesale electricity prices were static on Thursday, while gas dropped markedly. The one-year prices remain below the psychological markers of £80 per MWh and 80p per therm for gas.

At a retail level, prices are stable, with electricity contracts around 20p per kWh for day rates and 16p for night, with gas around 4p per kWh. The pressure on bills is coming from non-commodity charges, which continue to rise.

On the generation side, renewables were approaching 60%, which drove the generated price below £50 per MWh for the first time in a long while. As more storms emerge from the Caribbean, we expect to see increased wind generation in the coming weeks which is good news for electricity prices.

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