Introducing local electricity pricing could reduce electricity system costs by as much as £2.1 billion a year from 2030 onwards, according to a new report.
If the UK is to meet its new offshore wind target of 40GW by 2030, further funding and more frequency Contract for Difference (CfD) auctions will be needed.
Power prices across Europe - which have on average fallen between 30% and 40% - may not fully recover until 2025.
More than 100GW of additional wind and solar capacity, alongside 30GW of short duration energy storage, is needed in the UK if the country is to meet its net zero obligations.
Liam Stoker reflects on yesterday’s news that EDF is now more likely to be late and cost up to £2.9 billion more than previously thought, and draws parallels with another hugely costly project that’s now months late in the delivery.
Soaring renewables required under the UK’s binding climate change targets will send wholesale power prices crashing and fundamentally alter the workings of the power sector towards wider use of ‘capacity contracts’.
Electric vehicle chargers could offer £6 billion opportunity to 2040 across shops, workplaces and motorways
An investment opportunity of up to £6 billion is available to 2040 owing to the need for millions of electric vehicle chargers at workplaces, shops and motorway services, according to a report out this week.
The balancing and frequency markets will double in value by 2030 as the evolution of the power market creates £6 billion of investment opportunity for battery storage and other flexible and distributed generation assets.
Smart charging will allow electric vehicle (EV) drivers to save £170 a year while providing the flexibility needed to meet rising demands on the grid brought about by the EV revolution, according to a new report from Aurora Energy.