Complex sentence: For an economically efficient electricity wholesale market to flourish it is essential that a number of criteria are met, namely the existence of a coordinated spot market that has "bid-based, security-constrained, economic dispatch with nodal prices".
Split into simpler sentences: For an economically efficient electricity wholesale market to flourish it is essential that a number of criteria are met. Central to his criteria is a coordinated spot market that has "bid-based, security-constrained, economic dispatch with nodal prices".