This week we look back at wholesale power price developments throughout April, a month which saw notable bearish price movements.
The most prominent of these were the movements in the day-ahead power price. Across April the price averaged €28.0/MWh, the lowest monthly average since the commencement of project I-SEM back in October 2018.
Energy storage and flexibility
In recent months National Grid ESO has been developing a new reserve service to improve the management of the system and enable the grid to accommodate zero carbon operation of the electricity system by 2025. On 28 September the ESO first announced at their Autumn 2022 Markets Forum, a proposal...
Energy storage and flexibility
Last weekend saw the day-ahead power price average negative for only the second time since the new trading arrangements commenced back in October 2018. The first such negative pricing event occurred on 5 April, when the day-ahead power price averaged -€2.5/MWh. Saturday 23 May saw the power price outturn lower...
Low carbon generation
The renewables sector cautiously welcomed the 24 July decision on the High-Level Design (HLD) of the Renewable Energy Support Scheme (RESS). The HLD’s emphasis on the first RESS auction supporting projects that could be built out by the end of 2020 energised the solar community. The Irish Wind Energy Association...
