Does anyone know why wholesale energy is rising in price?

[SophieHMS]

So we all know energy prices are rising because wholesale prices are rising.

But why are wholesalers increasing their prices??

My understanding is we had a long calm spell which meant all our wind turbines weren’t producing enough. As a result we had to purchase more from ??Russia.
Happy to be corrected on this though.

Droughts in Asia (climate change related) restricted their ability to generate hydroelectric power and so they used more gas. Russia restricted their output for political reasons. Odd cold snaps in Europe (climate change). Fire at a big interconnecter (transmits gas) in Kent. Not very windy for the last month. Slightly less supply and more demand means prices go up.

Seeing as EU countries aren't having the same price rises and we buy a lot of our gas from abroad I'm going to hazard a guess at brexit. 🤷‍♀️

But yes if we as a country could produce more it would be cheaper. So OK when the wind turbines are spinning around quickly but if they're not we've blown up old coal fired power stat at a rate of knots and can't produce electricity.

@confettiballoons is right, also China gearing up manufacturing again sooner than thought after lockdowns, cold winter last year so stores are depleted, and a lack of gas storage / self sufficiency in the UK.

Wind turbines are the “icing on the cake” but absolutely not the root cause.

Unfortunately we can’t even blame brexit, given how much of our gas comes from Russia and the Middle East. Simple case of supply and demand.

All part of the plan to keep people living in fear and more likely to follow orders without questioning them.