| Comment | that only applies to power sold in the power exchanges - the majority of wholesale electricity (around 80% I think) is sold bilaterally
far more of an issue is the use of marginal pricing in the european gas market, which is why gas producers in the North Sea can get paid the european (Ukraine-affected) price despite their costs of extraction not increasing. EU is trying to implement a price cap though this is not progressing well
(bear in mind that in both cases we have also benefited from the reverse case, our costs reducing due to suppressed gas prices, for many years pre-Ukraine, so it's swings and roundabouts) |
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