June’s heatwave: prices said one thing, the wires said another
The article argues that June’s heatwave left the electricity market and the physical network pulling in different directions. A 5GW swing on the French interconnector pushed frequency down to about 49.66Hz, and the control room held the system together by hand. It matters because Ofgem is now asking whether the market can reliably “self-balance”. June suggests that trading on a “copper plate” leaves NESO to deal with physics the market ignores.
