Recommendations aimed at improving reference prices in the UK’s wholesale ...

Recommendations aimed at improving reference prices in the UK’s wholesale electricity market were agreed at a recent meeting of the Power Trading Forum (PTF). The recommendations, for both day-ahead and month-ahead baseload reference prices, include: · Reference prices should be based on actual trades not price assessments. · The data source should be a centralised collection of transaction data from all electronic platforms (voice brokered trades subsequently entered on electronic trading platforms should be excluded). · Price, volume and time data for all trades making up the reference prices should be made available. Specific details on the mechanics of collection and publishing reference prices were not proposed as ‘it was not the intent of the working group to prescribe a market solution’.

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