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On 10 December 2024, Spain's balancing market quietly became a different market.

Not a tweak. Not a parameter change. A structural replacement of the clearing engine, the bidder pool, and the price formation logic all at once.

Most flexibility operators haven't internalized what that means for their dispatch economics yet.

One Price to Rule Them All: A Primer on Spanish mFRR
May 9
at
6:32 AM
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