OIES Podcast – Electricity (re) Design and ‘Split Markets’ – Part 1
In this podcast, David Ledesma talks to Professor Michael Grubb of UCL and Malcolm Keay of the OIES on the proposed dual market designs for electricity. In recent months, electricity market arrangements have been widely debated in the UK and Europe, because of the impact of high gas prices and the fundamental changes the system is undergoing as decarbonisation progresses. The discussion draws on Professor Grubb’s article ‘Disentangling the debate on Electricity (re) Design and ‘Split Markets’ in the Institute’s May 2023 Oxford Energy Forum, and on the 2017 OIES Energy Insight ‘The Decarbonised Electricity System of the Future: The ‘Two Market’ Approach’. The discussion is in two parts: the first part [published today] looks at the main elements of the proposals and the objections that have been raised against them. The second part [to follow next week] will look at more detailed aspects of the proposals and the European context.