Yeah, like frak!
Bloomberg: Power Glut Forces U.K. Utilities to Idle Plants, Cut Spending
Don't expect any cheaper bills.
Bloomberg: Power Glut Forces U.K. Utilities to Idle Plants, Cut Spending
Electricity for delivery this winter fell 27 percent this year and touched 40.80 pounds ($67.41) a megawatt-hour on July 17, the lowest since September 2007.
Spare generation capacity is headed toward 40 percent, compared with less than 30 percent in all bar one year since 1990, according to National Grid forecasts. Electricity demand may not reach pre-recession levels for 10 years, the London- based company said.
