British power prices have surged to a record high as the cold snap and a lack of wind prompts a scramble for electricity.
Day-ahead wholesale prices for electricity for 5pm to 6pm tonight soared to £2,585.80 per megawatt-hour - setting a record for the Epex exchange, as traders scrambled to outbid the Continent for scarce power supplies and ensure electricity imports from France.
The Times says the record price is about 50 times higher than average winter power prices before the energy crisis hit last year.
It is equivalent to £2.59 per kilowatt-hour, which compares with household unit rates capped at 32p per kilowatt-hour this winter.
The massive wholesale power prices are being caused by rocketing demand at a time of low wind speeds.
The Telegraph says that, at the same time as demand is peaking, grey and still weather conditions are depressing wind power.
Less wind power
Wind was generating around 5% of Britain's energy on Sunday, compared to 28.5% over the past year. Gas is being used to prop up the system and meet demand.
Record prices reflect the amount being paid by UK energy suppliers for power from electricity generators. Higher prices are paid to attract more generators to market and ensure there is enough electricity available to meet forecasts for demand.
The crunch is expected to begin to ease from Monday evening as the wind is forecast to pick up.
National Grid warned last week that supplies of electricity would tighten as the weather reduces the amount of power generated from wind and solar.
It said it may be forced to use "enhanced actions" to keep the lights on, including its new scheme where households can sign up to be paid to reduce their electricity consumption when supplies are squeezed. The consumption-cutting tool was almost needed in late November but its use was narrowly averted.
The Grid is set to run another test of the so-called demand flexibility service between 5pm and 7pm today.
Keeping the lights on
Temperatures, wind speeds and how much power the UK can import from Europe are key to keeping the lights on this winter. Britain is expected to avoid blackouts, but could have to contend with reduced supplies from France because of maintenance at EDF's nuclear fleet.
Europe benefited from a mild November, which has left gas storage levels almost full as the region headed into the coldest months of the year.
However, the sub-zero temperatures in the UK are expected to remain for several days before milder weather returns in the run-up to Christmas.
National Grid chief John Pettigrew has warned of the risk of rolling blackouts on "those deepest, darkest evenings in January and February".