Power regulator may act on pool price peaks
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE ELECTRICITY regulator, Offer, said yesterday it could alter generators' operating licences in an effort to end what it sees as manipulation of wholesale electricity pool prices. "If we wanted to make a series of changes to the way in which the pool operated, it would probably be necessary to change licences," said the director-general of electricity and gas, Callum McCarthy.
Offer proposed last month to simplify the bidding process by generators in an effort to cut the number of price spikes - intraday peaks in the pool price - above 60 pounds per megawatt hour.
It said the spikes were the result of generators exploiting the complex bidding system into the pool, which acts as a clearing house between generators and customers and sets wholesale prices.
Offer said it would see if efforts by the pool to find its own way to eliminate peaks were successful before pursuing the simple bid idea.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments