Flexitricity has become the first Virtual Lead Party (VLP) to trade in the balancing mechanism (BM) since the wider access agreements were brought in.
The UK’s electricity system price spiked to £2,242/MWh last night (4 March 2020) following lower than expected wind generation during the evening peak.
National Grid Electricity System Operator (ESO) has made changes to its balancing mechanism (BM) that will allow a wider range of participants from today.
Elexon, the body tasked with delivering the Balancing and Settlement Code, has launched a new Wider Access Impact Assessment and new Testing Strategy.
Electricity produced by the UK’s wind turbines reached record levels this week after 13.6GW of output was recorded which, combined with high output, sent settlement periods into negative pricing.
