French grid operator readies hard Brexit day-ahead power auction plan

French electricity grid operator RTE has prepared an auction mechanism which would permit continuity in day-ahead electricity auctions between Britain and France in case there is no deal for Britain to leave the European Union on March 29. RTE said in a note to power market participants it had submitted market terms and conditions to the French energy market regulator CRE, and would be able to implement the new terms of the auction from March 30. It added that a no-deal Brexit would have no impact on yearly, monthly and intraday France-England power capacity auctions because the auctions are carried out on a bilateral platform dedicated to the French-English border.