UK power prices soar after key cable hit by blaze

UK power prices soar after key cable hit by blaze

A key electricity cable between Britain and France has been shut down, sending wholesale energy prices soaring.

National Grid said a fire and planned maintenance at a site near Ashford in Kent means the cable will be totally offline until 25 September.

Half of its capacity, or one gigawatt (GW) of power, is expected to remain unavailable until late March 2022.

On Wednesday, British electricity prices for the following day jumped by 19% to £475 per megawatt hour (MWh).

Earlier this month, energy regulator Ofgem warned that UK household energy bills would be affected by soaring prices of fossil fuels globally.


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