This is a function of the UK’s absolutely not fit for purpose energy pricing model - it is insane that generated energy should cost more than refined fuel.
The problem is that all U.K. energy costs are pegged to the most expensive option - gas - in the most expensive way - taking the highest future price in the next six months - and with the government focussed on… not much in particular… it’s hard to see any improvement in the near term, excepting a continued fall in LNG prices.
The UK is at latitude too high to benefit very much from solar energy. It is not mountainous enough to benefit from hydroelectricity. Nor is there much scope for geothermal.
So we have gas, wind and nuclear, and that's it.
In the government's infinite wisdom they decided to place a moratorium on on-shore wind generation for stupid NIMBY reasons. Fortunately we have plenty of offshore wind capacity, but when the wind isn't blowing, all we have is gas turbines plus whatever scraps of nuclear France is willing to throw us.
The wind is blowing pretty frequently - the problem is actually more often one of transmission - there is not enough capacity on the grid to transfer energy from the relatively remote areas it’s produced, such as the Irish Sea, to consumers.
Further investment in transmission from snowdonia and expansion of pumped storage facilities could go a long way.
Not sure what you're referring to? As far as I can tell the national grid operates on a 30 minute settlement period.
> For each half hour, known as a Settlement Period, companies can trade up to 1 hour beforehand that time period is closed.
If you're referring to the consumer energy price cap, then that's not even relevant to this discussion, since the price cap applies to households, not commercial charging stations...
No, this refers to what and how they are permitted to trade, and how the wholesale market is regulated - the rules are baroque in the extreme, and were last reviewed 20 years ago.
The intent was good - it was supposed to ensure stability and certainty of supply, and by using the highest price for the cheapest source (gas, at the time) they guaranteed a stable price and supply of energy. It was also intended to prevent arbitrage and profiteering.
The outcome is still somewhat true - except the price is sky-high, and stably sky-high for at least the next few Qs.
The problem is that all U.K. energy costs are pegged to the most expensive option - gas - in the most expensive way - taking the highest future price in the next six months - and with the government focussed on… not much in particular… it’s hard to see any improvement in the near term, excepting a continued fall in LNG prices.