[cbmuser]

There is no way of changing this. It’s how commodity markets work.

[otherme123]

There are alternatives, like "pay as bid", which heavily incentives the best price guesser instead of the cheapest producers. And is a system more fragile against collusions in concentrated markets (i.e. a handful of big producers that agree on high bids).

[blibble]

of course there is

this is not the global oil market

the UK electricity market is a government creation, highly regulated, and only accessible to limited participants

30 minutely, day ahead, pay-by-clear auction markets are not a property of the universe