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Energy bills in Great Britain rise by 5% as price cap increases
(www.theguardian.com)
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this post was submitted on 01 Jan 2024
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Tories won't do shit. They've got an election to lose.
The electricity supply auctions need to stop paying all generators the price/MWh that the most expensive auction winner is at. For one thing, it means we're in this kind of feast or famine situation where the electricity price collapses when we have enough wind to cover demand. That kind of bimodal market is going to send companies to the wall, I'm sure.
Not sure what the right model is. The current on does have the advantage that generators really want to get into wind because the margins are so high, being able to sell for gas prices. Great, but it's at the expense of consumers. We need to balance that better.
I guess the silver lining is that it encourages investment in wind and PV.