Wholesale electricity market is ‘no longer fit for purpose’
The wholesale electricity market is “no longer fit for purpose” and, if left unchanged, will impose excessive and unnecessary costs on consumers, National Grid Electricity System Operator (ESO) has warned in a new report. The ESO said the current market design, based on a blanket national wholesale price for electricity, is contributing to a dramatic rise in constraints costs and inefficiencies in balancing the power grid, whilst also undermining the capability to deliver demand-side flexibility.
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