Why no long-term contracts would be allowed

Reference no: EM13184140

(a) You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single minute where supply equals demand. So no long-term contracts would be allowed. Is this a good idea or a bad idea?

(b) Explain exactly why might electricity restructuring be a good idea?

Reference no: EM13184140

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