essentially this means if there's one milliwatt of gas on the grid: everyone pays the gas price
as a result consumers see very benefit from renewables
(but the renewable generators are making out like bandits)
And you can have other pricing schemes, for example pay-as-bid, that also balance supply and demand.
however the market participants have "adapted" to it
https://www.theguardian.com/business/2025/jan/08/two-power-s...
it works pretty well on a short-term basis but due to the way the system works there's no ability to price-in a long term signal
the government is currently consulting on a changes to introduce this mechanism (as is the EU)
Give those constraints, of course they must be expensive if they are to exist at all.
Do I misunderstand anything?