That&#x27;s not quite what the wholesale rate means in the US; we have what you describe but it&#x27;s typically referred to as the spot market. The wholesale rate when used by politicians and the media here usually (as far as I know) refers to the monthly auction clearing rate, which is much more stable. There is also a day-ahead wholesale rate, but the net metering rollback bills I&#x27;ve read recently are all based on the monthly auction rate.