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New funding sandbox

Balancing and settlement company Elexon wants to set up a market “sandbox” to allow companies to test innovative products or ideas for the electricity market.

The idea follows Ofgem’s similar approach, which allows for a temporary derogation from existing rules, monitored by Ofgem, and with customer protections in place. Ofgem’s first sandbox invitation brought forward 30 proposals, of which 22 were offered feedback and two are now in process. The regulator recently published a second invitation.

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