The European Council has agreed a new position on the internal electricity market, placing consumer empowerment, cross-border trading and higher levels of renewables at the heart of the European Union’s efforts to transition to a low carbon economy.
Changes to the de-rating factors for battery storage projects competing in the Capacity Market (CM) will push the sector towards longer-duration batteries, while potentially sparking a shift towards energy arbitrage as a source of revenue for shorter duration applications.
Centrica has boosted its presence within the global energy market with the acquisition of Restore, the demand response aggregator manging 1.7GW of peak load from industrial and commercial customers across European countries and the US.
Flexible and distributed energy sources in the UK will reach 25GW by 2030 according to Aurora Energy Research, which has forecast potential annual revenues close to £3 billion as batteries, ‘peakers’ and demand-side response (DSR) come to the fore.
UK energy company Drax is to consider adding a 200MW battery storage project to its coal-fired power station in North Yorkshire in an effort to add value through greater flexibility and extend its operation.
Delays to the UK's transition to a cleaner power sector and the deployment of new renewable capacity could cost consumers as much as £2.6 billion, a new report has claimed.
