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An interesting article. However, it suffers from circular logic. Fact: renewable output has significant error bars when looking 24hrs ahead. Assertion: intraday markets are important for RES integration into the elec system. Fact: many (most?) renewable projects are being connected under CfDs – which insulates a given RES project under CfDs from market wobbles. Why then are intraday markets helpful? The problem is as follows: the elec system needs determinism to operate in a stable fashion (balance load and generation – from real time through to multi-day). Determinism has declined (fossil exiting/de-carb) and what is left can be costly. As I have repeatedly noted, no serious effort has been made to address the storage problem (where to put the surplus elec) and the obverse – what happens when no-wind and no sun. Demand response? The EU has been talking about it for north of a decade – little real action (generators don’t like it amongst other reasons). The article claims that markets can help balance – but that claim rests on pricing – the pricing of MWh to force balance. But if you have a CfD why would you be worried? As for the massive price oscillations – looks like bank prop-desks trying to make a killing – we know they are plays in this game – you only need to look at the 4:1 ration – elec trading vs delivery. This is not markets delivering sensible prices, this is a casino & the ones who ultimately pay are Euro serfs.

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Also volumes under CfDs are traded on day-ahead and intraday markets, in Germany e.g. by the TSOs.

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Are these electricity markets (forward, day ahead, and intraday) used exclusively by generators and consumers, or are financial players involved? Reading Seb Kennedy, I get the impression that financial players have a big impact on TTF prices.

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traded electricity vs delivered electricity has a 4:1 ratio. Most generators and retailers have trading desks. Arguably, they have a legitimate need. However, many banks also have trading desks (prop-desks) they never take delivery of elec and account for most of the market churn. It is claimed that this helps market "liquidity" - however, the reality is that elec markets have been taken over by the finance parasites - to make money.

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