Gas controls electricity prices in UK, more than rest of Europe
Under the marginal pricing model, electricity prices are set by fossil fuel-generated power 98% of the time - increasing from 88% in 2015.
This is higher than other European countries. In France, Portugal and Spain, prices are set by non-fossil fuel sources over a third of the time.
All figures are from the 2023 UCL paper: The Role of Natural Gas in Electricity, by Benham Zakeri, Iain Staffell, et al.
Graph shows the frequency at which overall electricity prices are set by the price of different power sources - fossil fuels (coal, gas and oil), non-fossil fuels (wind, solar, biomass, nuclear, hydroelectric), and imported power - over the year, in each country, under marginal pricing models.
Graph shows the frequency at which overall electricity prices are set by the price of different power sources - fossil fuels (coal, gas and oil), non-fossil fuels (wind, solar, biomass, nuclear, hydroelectric), and imported power - over the year, in each country, under marginal pricing models.
