This series outlines the basic structure of Great Britain's electricity system. By the end of it, you'll understand what we mean by generation and demand and how they're measured; how electricity travels from generation sites to your home; the physical infrastructure that makes that happen; the main players involved in ensuring that the lights stay on; and how all of those things fit together.

This series give an introduction to the electricity market in Great Britain. It introduces the commercial aspect of Great Britain's electricity system, so the electricity market.

By the end of the 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 works in Great Britain at a very high level; a whole load of super important vocabulary, like short-run marginal cost, CapEx, merit order, base load, and more; the main players involved in ensuring that the market runs smoothly; and how all those things fit together.

Series Three – Great Britain's Electricity Market 201

Here, Neil delves into markets in more detail so that you can understand how businesses make money in Great Britain's electricity system.

By the end of this series, you should understand the overall structure of Great Britain's major interlinking markets for electricity; how the capacity market works, what it is, and how it helps decide which new generators actually get built; the nuts and bolts of the wholesale market, forward and futures, the timings of the EFA day, the difference between physical and non-physical trading, and intraday and day ahead trading; the balancing mechanism, which is the mechanism that the ESO uses to balance the system in real time; imbalance pricing, or what happens when participants can't or don't do what they said they would; and finally, ancillary services, those smaller markets that ensure security of supply.