Traders feared high prices in the cold evenings in early February, because french eletric heatings were increasing demand massively in the interconnected european market. They purposly underreported the demand of their customers, in order to buy the missing part on the reserve market, which is secured in advance and has fixed prices. Because this was a common strategy, a blackout was very likely.

Proposals to reform the german reserve electricit markets include:

* trading reserve energy always more expensive than spot market prices.
* trade it closer to the time of consumption (now it is a week in advance)
* secure higher amounts of reserve capacity

18 Feb 2012 - 17:29
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