While National Grid ESO has been granted a derogation until 30 June 2020 to implement project TERRE; Wider Access, its project to increase accessibility to the Balancing Mechanism (BM), is still scheduled to go-live on 11 December 2019.
In this Chart of the Week we analyse recent activity of aggregated units and batteries in the BM and take a view on what new entry might mean.
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Energy storage and flexibility
On 21 February, the T-4 Capacity Market auction for Delivery Year 2026-27 cleared at a record high price of £63.00/kW/year, procuring 43,000.955MW of capacity. In this week’s 'Chart of the week', we explore the key takeaways from the auction.
Commercial and market outlook
There has been talk for years about the potential introduction into the National Electricity Market of a “capacity market”, with significant pushback from the industry over the potential for a capacity market to prolong the life of coal and gas and slow decarbonisation of the grid. On Friday last week...
Power and gas networks
It is perhaps unsurprising to highlight that global energy markets have been exposed to significant volatility in recent years. Whether this be through the emergence of a global pandemic, dampening demand and drastically altering consumption behaviour thereafter, to the Russian invasion of Ukraine which resulted in significant changes to historic...
Home supply and services
Due to the current energy crisis, consumer energy bills have been exposed to substantial increases over the past year. The recent rise in wholesale prices has had knock-on effects in many non-commodity costs within consumer bills, some of which will be baked into charges for several years to come In...
Energy storage and flexibility
News this week that the UK government is mulling over a cap on green generation revenues comes at a time when our research finds that the investment pipeline for electricity renewables generation is the highest it has ever been. In our Renewables Pipeline Tracker (RPT) service we analyse the growing...
Energy storage and flexibility
The events leading up to the recent market suspension in June have highlighted the role that peaking gas-fired generation plays in satisfying demand and setting prices across the NEM in the morning and evening peak periods. The team recently explored some of the drivers and effects of these events in...
Energy storage and flexibility
The rise of renewables has seen the need for additional firming capacity in order to smooth renewable output and replace coal capacity in the evening peak. The ESB and federal Ministers are currently in discussions regarding the development (or not) of a capacity market for the NEM. Interestingly from the...
Regulation and policy
The T-1 Capacity Market (CM) auction for Delivery Year 2023-24 will take place on 14 February 2023, during a particularly challenging period for the GB energy system with prices rising to unprecedented levels and concerns over security of supply. In this week’s ‘Chart of the Week’, we examine the range...
