electricity import record today ?

[Ken]

Hi Dan,
I am referring to the 2nd choice.
As you say the price of gas controls our leccy price even when suppling small amounts. The excesses of nuclear, wind and hydro by the EU producers which cost virtually zero as they would have to be curtailed or sold at dump or negative prices is sold to silly us at our leccy price supported by gas.

[John_S]

I blame Ofgem for where we are now.

Years ago, it was all talk of fixed price contracts (such as Octopus's PPA for Graig Fatha wind farm production) for most power generation with the spot price only filling in the gap and selling over commitments to buy.

Ofgem's contracts for difference encourage/require windfarms to sell at spot prices instead of fixed contracts as the contract for difference references the spot price.

Of course, I might misunderstand how the markets work and have evolved. I am sure that some of you know a lot more than I do.

[nowty]

I'm not really "au fait" with how the interconnectors pricing works, but I found an couple of recent docs,

This is dates Oct 2024, quite short and simple,
https://www.energy-uk.org.uk/publicatio ... or-energy/

This is Apr 2024, looks a little more detailed,
https://modoenergy.com/research/march-2 ... t-explicit

This is an OFGEM doc dated March 2021, it seems to describe the operating costs of interconnectors are cap and floor, similar to a CFD.
https://www.ofgem.gov.uk/sites/default/ ... ch2021.pdf