Perspective | Is the design of the electricity market costing consumers money?

This article is from our Energy Spectrum publication which was published on 4 March 2022.

It has become increasingly clear the existing market design is unfit for either a future net zero world or a period of fossil fuel price crisis, but what market design might be best for our immediate and long-term future?

If we accelerate the deployment of renewable resources to reduce the use of gas, would the price of power actually fall? Even though the UK generated 41.9% (wind and solar combined) in February 2022 from renewables resources, the price of electricity has increased in line with the gas price.

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