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Comparing Flexibility Markets Across Northern Europe

Laura Woolsey Analyst

The Renewable Energy Association (REA) ranked GB eighth out of nine European electricity markets, in its inaugural Energy Transition Readiness Index. The report, issued on 13 November, ranks flexibility markets across nine Northern European countries, considering the attractiveness of each market for new investors. Each country has been assessed against three main transition factors: market access, socio-political support and technology potential. The assessment shows the development of flexibility markets and readiness for energy transition is at different stages of maturity across Europe. Nordic countries have been found to perform well in most sectors with strong socio-political commitments, accessible markets and integration of new technologies. Lower scoring countries are often suffering from unclear rules, conflicts and technology and market access barriers, according to the report. The REA report states that regulatory uncertainty, lack of visibility on returns and technical challenges are hindering investment in flexibility services, risking delays in the UK’s energy transition. Progress in electric vehicle (EV) infrastructure is relatively slow across all countries, particularly in EV charging signals and bi-directional charging. The report states that this must improve to allow EVs to fully participate in the flexibility market. The REA assessment has shown that there are still many challenges that may delay the introduction of flexibility services and cause difficulties for the energy transition. All countries within this assessment are making progress with high ranking countries providing fair, transparent and easy access to participants, market certainty and visibility on returns, and support to flexibility markets from clear policy ...

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