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cbmuser 4 hours ago

There is no way of changing this. It’s how commodity markets work.

otherme123 3 hours ago | parent | next [-]

There are alternatives, like "pay as bid", which heavily incentives the best price guesser instead of the cheapest producers. And is a system more fragile against collusions in concentrated markets (i.e. a handful of big producers that agree on high bids).

blibble 3 hours ago | parent | prev [-]

of course there is

this is not the global oil market

the UK electricity market is a government creation, highly regulated, and only accessible to limited participants

30 minutely, day ahead, pay-by-clear auction markets are not a property of the universe