UK energy prices are set by the most expensive energy source in the mix that contributes to the National Grid, which happens to be gas.

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Nextgrid 2 days ago | parent [-]

Which also sets broken incentives where nobody (not even renewables) are actually incentivized to dethrone gas/etc as it would reduce their own profit margin.

	▲	ViewTrick1002 2 days ago \| parent [-]
		But everyone are incentivized to build another wind farm, solar plant, battery etc to make profit on the current fossil gas based margins. Pushing the price lower for more hours. Equilibrium is met when new production becomes too expensive vs. the existing profit potential. All resource markets globally run on marginal price. The other option for electricity would be that everyone instead does their own research and predicts the clearing price leading to even higher waste and more volatility.