This is the wholesale price of electricity against the total demand for power, as reported by the National Grid. This is the price that suppliers are trading energy at on the intra-day market. This differs from the day ahead price used for indexes like RPD. Intra day prices are highly volative, frequently ranging from zero to £50-£100 per MWh within the same day/week. All prices are in GBP£ per MWh, this can be devided by 10 to give pence per unit / KWh.
The total demand for power is estimated by measuring the total amount of power being generated. As power cannot be stored effectively, demand and generation as almost the same. There will be some variation , where business or homes generate power on site, but this will be fairly constant.
Mid Market prices are useful for tracking market volatility, which in turn affects the day ahead and futures prices, which itself affects the prices that suppliers offer to energy consumers.
Built by and copyright Energy Solutions - 2017