The UK wholesale electricity market is broken – liquidity has been declining for years and structural reform is necessary. This was the conclusion of the Power Trading Forum (PTF) of the UK's Futures and Options Association (FOA) last year. Since the PTF comprises the active market participants, they were both willing and able to take action, resulting in the issue of a request for proposals (RFP) dated June 13.

This document, and the circumstances leading up to it, are potentially extremely