Great Britain electricity market
E790448
The Great Britain electricity market is the competitive wholesale and retail system through which electricity is generated, traded, transmitted, and supplied to consumers across England, Scotland, and Wales.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Great Britain electricity transmission system | 1 |
Statements (92)
| Predicate | Object |
|---|---|
| instanceOf |
electricity market
ⓘ
retail electricity market ⓘ wholesale electricity market ⓘ |
| abbreviation | GB electricity market NERFINISHED ⓘ |
| country | United Kingdom ⓘ |
| coversTerritory |
England
NERFINISHED
ⓘ
Scotland NERFINISHED ⓘ Wales NERFINISHED ⓘ |
| excludesTerritory | Northern Ireland NERFINISHED ⓘ |
| governedByBody |
Scottish Government (energy policy aspects)
NERFINISHED
ⓘ
UK Department for Energy Security and Net Zero NERFINISHED ⓘ Welsh Government (energy policy aspects) NERFINISHED ⓘ |
| governingLegislation |
Electricity (Competitive Tenders for Offshore Transmission Licences) Regulations
NERFINISHED
ⓘ
Electricity Act 1989 NERFINISHED ⓘ Energy Act 2004 NERFINISHED ⓘ Energy Act 2010 NERFINISHED ⓘ Energy Act 2013 NERFINISHED ⓘ Energy Act 2016 NERFINISHED ⓘ Utilities Act 2000 NERFINISHED ⓘ |
| hasComponent |
ancillary services market
ⓘ
balancing mechanism ⓘ capacity market ⓘ contracts for difference scheme ⓘ renewables obligation scheme NERFINISHED ⓘ retail electricity market in Great Britain ⓘ smart meter rollout ⓘ wholesale electricity market in Great Britain ⓘ |
| hasFeature |
ancillary services procurement
ⓘ
balancing mechanism operated by system operator ⓘ capacity market auctions ⓘ carbon pricing via UK Emissions Trading Scheme ⓘ connection charges for generators and demand ⓘ contracts for difference for low-carbon generation ⓘ half-hourly settlement for large customers ⓘ imbalance settlement ⓘ independent system operator ⓘ network price controls for transmission and distribution ⓘ nodal transmission constraints managed centrally ⓘ price cap on default retail tariffs ⓘ renewable support schemes ⓘ retail competition for domestic consumers ⓘ transition to market-wide half-hourly settlement ⓘ unbundled transmission and supply ⓘ |
| hasStakeholder |
aggregators
ⓘ
distribution network operators ⓘ domestic consumers ⓘ generators ⓘ industrial and commercial consumers ⓘ interconnector owners ⓘ suppliers ⓘ traders ⓘ transmission owners ⓘ |
| historicalEvent |
creation of National Grid Electricity System Operator as legally separate entity
ⓘ
introduction of British Electricity Trading and Transmission Arrangements ⓘ introduction of the Electricity Pool of England and Wales ⓘ privatisation of Central Electricity Generating Board ⓘ replacement of the Pool by the New Electricity Trading Arrangements ⓘ |
| interconnectedWith |
Belgian electricity market
ⓘ
Danish electricity market ⓘ Dutch electricity market ⓘ French electricity market ⓘ German electricity market ⓘ Norwegian electricity market ⓘ Single Electricity Market on the island of Ireland NERFINISHED ⓘ |
| marketDesign |
competitive retail market
ⓘ
competitive wholesale market ⓘ liberalised electricity market ⓘ |
| policyObjective |
affordability of electricity
ⓘ
decarbonisation of power sector ⓘ facilitation of demand-side response ⓘ integration of renewable energy ⓘ net zero greenhouse gas emissions target of the United Kingdom ⓘ promotion of competition in generation and supply ⓘ security of supply ⓘ |
| primaryFuelTypes |
biomass
GENERATED
ⓘ
hydropower GENERATED ⓘ natural gas GENERATED ⓘ nuclear power GENERATED ⓘ offshore wind GENERATED ⓘ onshore wind GENERATED ⓘ solar power GENERATED ⓘ |
| regulator | Ofgem NERFINISHED ⓘ |
| regulatoryFramework | price control framework RIIO for networks ⓘ |
| timeZone |
British Summer Time
NERFINISHED
ⓘ
Greenwich Mean Time ⓘ |
| transmissionSystemOperator | National Grid Electricity System Operator NERFINISHED ⓘ |
| usesMechanism |
balancing services auctions
ⓘ
competitive allocation of contracts for difference ⓘ competitive auctions for capacity ⓘ imbalance pricing ⓘ locational transmission losses ⓘ market coupling on interconnectors ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject surface form:
National Grid plc
this entity surface form:
Great Britain electricity transmission system