A leading German utility has proposed changing the structure of the UK wholesale power market to increase transparency and liquidity. In a paper recently seen by Platts, the company proposes building the market around an hourly day-ahead spot exchange and cleared futures exchange, similar to the German and French model. The exchange could be either voluntary or mandatory. The market now consists of bilateral markets, exchanges, and a balancing market which settles unbalanced buyers and sellers from one hour before delivery until transmission.
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