In the latest issue of our Current± Price Watch series – powered by LCP Enact – we take a look at how Britain’s power system reacted to the heat wave, and the record high cost of balancing the system as National Grid ESO worked to overcome constraints.
Energy trading firm Danske Commodities is to contribute to grid flexibility across Europe and America, having signed a five-year deal with Octopus Energy Group’s KrakenFlex.
Battery storage participation in the Balancing Mechanism has “increased massively” while a hybrid approach to trading that sees assets dipping in and out of Dynamic Containment is becoming more common.
“This is the time for action,” National Grid ESO's executive director Fintan Slye has said, unveiling new measures to support the UK's energy system through the energy crisis.
Investors are increasingly turning attention to the Balancing Mechanism and Capacity Market for future long-duration battery storage revenue streams, with new research from LCP suggesting batteries can play a larger role in both.
Deploying large quantities of long duration electricity storage (LDES) could reduce system costs and reliance on gas, but greater policy support is needed to enable this, Aurora Energy Research has found.
Centrica Business Solutions has agreed a 10-year contract for the optimisation of three battery storage plants totaling 89MW, each with a one hour duration.
A colder than normal Q1 2021 and low wind generation in the summer across Europe exacerbated Britain's energy crisis, according to energy market data analyst EnAppSys.
