Re-coupling Great Britain electricity auctions for cross-border trade
Applies to England, Scotland and Wales
Read the full outcome
Detail of outcome
The purpose of the consultation was to seek views on:
- the current arrangements for trading electricity on power exchanges in the Great Britain (GB) wholesale electricity market
- proposals to support efficient cross-border trading
Having considered the feedback, the government response confirms:
- the introduction of a single GB clearing price in the day-ahead timeframe would be highly beneficial in supporting the UK to discharge its obligations under the UK-EU Trade and Cooperation Agreement. A single GB clearing price would support the efficient trade of electricity over interconnectors, as well as deliver broader benefits to the GB wholesale electricity market and its participants in trading electricity cross-border as efficiently as possible as part of and in any case in advance of multi-region loose volume coupling
- the intention to legislate to achieve a single GB clearing price, subject to engagement with the Specialised Committee on Energy (the joint UK-EU governance structure established to ensure the proper functioning of the Trade and Cooperation Agreement – Energy Title), industry and stakeholders
The government response also addresses the following matters:
- treatment of costs
- legislation: arrangements for a Single Clearing Price
- possible future interventions across other timeframes
- possible future interventions across other borders, specifically the North Sea Link (NSL)
- possible future interventions across other borders (Single Price All Borders)
- future governance arrangements
Detail of feedback received
We received a total of 27 responses from a variety of respondents, including:
- power exchanges
- energy companies
- trade associations
- energy and commodity traders
- energy solution providers
- transmission system operators
- energy system operators
The proposals were supported by a majority of respondents, while others provided useful feedback which the government will consider as part of ongoing policy development.
Original consultation
Consultation description
Consultation deadline extended
We have extended the consultation deadline to Wednesday 3 November to allow more time for responses given capacity pressures within organisations.
The purpose of this consultation is to seek views on:
- the current arrangements for trading electricity on power exchanges in the GB wholesale electricity market
- our proposals to support efficient cross-border trading
The electricity market industry sector in particular may have an interest in responding to this consultation.
Read the BEIS consultation privacy notice.
Please don’t send responses by post to the department at the moment as we may not be able to access them.
Documents
Updates to this page
Last updated 24 August 2023 + show all updates
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We have published the government response.
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We have extended the consultation deadline to Wednesday 3 November to allow more time for responses given capacity pressures within organisations.
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First published.