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Re "UK electricity prices are set by the highest priced generator which is normally gas"

Worldwide, electricity prices are set by the highest priced generator at the given moment of needed generation -- it's the dispatch curve. And generally, the generators that are the fastest to spin up to meet that incremental load are natural gas fired generators.

As to the GP's point, my intuition (happy to be proven wrong) is more that natural gas, and therefore electricity, is cheaper in the US, simply because it's more abundant in the US.




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