European power trading innovation: Regulatory change transforms the landscape

The rise of intermittent generation is not the only agent of change in electricity markets. Rule changes can also have a significant impact

“When the single system price arrived, we were in the right place at the right time.” So says Phil Hewitt, director of software firm EnAppSys, of a game-changer in European power markets. Interestingly, though, this shift in dynamics was not driven by the explosion in wind and solar generation, albeit that was a contributory factor and continues to assist growth in liquidity and participation. Instead, it was a tweak to the market structure that helped turn a previously sleepy backwater of the traded market into the hottest venue in town. Phil Hewitt, director of EnAppSys How has increased renewables penetration changed the Great Britai