Short answer - no. A price spike is when the spot price rises above 30c per kWh for one, and occasionally two, 30-minute trading periods. The prices either side of a spike might be higher than you’re used to seeing, too, but they’ll quickly subside back to normal levels. From 1 Jan 2014 to 30 March 2018, spot prices have only spiked around 0.20% of the time. That’s teeny!
Articles in this section
- Do all retailers buy electricity on the spot market?
- Who sells electricity into the wholesale market?
- Are spot prices different around the country?
- Does Flick make any profit from my power bill when prices spike?
- What’s a price spike - and do I need to be worried about them?
- What’s an ‘average’ spot price?
- Are there any trends with how spot prices move?
- Why do spot prices change?
- What’s spot pricing?