The problem is that all U.K. energy costs are pegged to the most expensive option - gas - in the most expensive way - taking the highest future price in the next six months - and with the government focussed on… not much in particular… it’s hard to see any improvement in the near term, excepting a continued fall in LNG prices.
So we have gas, wind and nuclear, and that's it.
In the government's infinite wisdom they decided to place a moratorium on on-shore wind generation for stupid NIMBY reasons. Fortunately we have plenty of offshore wind capacity, but when the wind isn't blowing, all we have is gas turbines plus whatever scraps of nuclear France is willing to throw us.
Further investment in transmission from snowdonia and expansion of pumped storage facilities could go a long way.
It would be entirely feasible to distribute production to where most consumption happens.
> For each half hour, known as a Settlement Period, companies can trade up to 1 hour beforehand that time period is closed.
If you're referring to the consumer energy price cap, then that's not even relevant to this discussion, since the price cap applies to households, not commercial charging stations...
The intent was good - it was supposed to ensure stability and certainty of supply, and by using the highest price for the cheapest source (gas, at the time) they guaranteed a stable price and supply of energy. It was also intended to prevent arbitrage and profiteering.
The outcome is still somewhat true - except the price is sky-high, and stably sky-high for at least the next few Qs.