Greg Jackson

speaker

647 appearances 38 recordings 2 series first heard May 2025 last heard 20 Sep

Greg Jackson’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 37 in all, peaking in Jul 2026 with 9.

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Azeem Azhar's Exponential View · What does Spain’s blackout mean for the future of clean energy? · 7 May 2025 podcast

And by those low electricity costs, have then changed the economy of Texas because they're attracting massive manufacturing because, among other things, they've got really cheap electricity.

And so one of the interesting things is you can get to virtuous circles once you've crossed this road.

Now, the point you're talking about there, I should set the scene, really.

Yeah, please do.

Because the inspiration for so much of the way we think about this is sort of conversations I have with my mom.

Oh, I don't actually have them.

I have them in my head.

And I think, what would my mum say?

And it started in the UK.

And the UK has got a half-hourly electricity market.

So every half-hour, the national price of electricity is set by the most expensive generator anywhere in the country that's needed to meet demand.

Yeah.

Well, it used to work very well when essentially you had coal power stations and maybe a few oil and gas, where the input cost was very similar between all of them.

So they would all bid in a very, very similar price, which meant even though you were paying everyone the most expensive price, it wasn't that much more than the cheapest.

Whereas in today's world, when you have renewable energy, there is no input cost.

So you can achieve a very, very low price for energy from those units.

But in a market where the price is still set by the final unit of generation, which will be gas, and has a very, very high input cost, typically in recent times, you're paying a fortune for stuff that should be cheap.

That's the kind of broad issue.

I think really getting your head around why the system used to work and now it doesn't is so key.

And it's because there's much more heterogeneity, much more diversity of generation.

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