Electricity Markets 101 - The Energy Academy (Series Two)

Welcome to The Energy Academy by Modo!

Looking for Series One? Head to: How the electricity system works - Th...

Anyway, in this series, I’ll be introducing the commercial aspect of the electricity system - so Great Britain’s electricity market.

By the end of this course, you’ll understand:

💸 The conditions that go into determining - or “setting” - the price of electricity.
🦤 The general evolution of electricity markets in Great Britain - from nationalisation to privatisation.
🛒 How the wholesale market for electricity in Great Britain works, at a high level.
📘 A whole load of super important vocabulary: like short-run marginal cost, generation stack, CAPEX, baseload, merit order, and more!
⛹️ The main players involved in ensuring that the market runs smoothly.
🧩 And how all of these things fit together.

Want to learn more? Head along to Phase: https://platform.modo.energy/phase

Episodes:
00:00 - What you'll learn
01:33 - CAPEX vs. short-run marginal cost
04:06 - What is the 'generation stack'?
06:29 - Setting the electricity price
10:27 - The evolution of Great Britain's electricity market
15:18 - The wholesale market
18:42 - Series recap