balancing market

Ernst & Young’s (EY) 63rd edition of the Renewable Energy Country Attractiveness Index (RECAI) ranks the UK battery energy storage system (BESS) market third globally.

Average battery energy storage revenue for the balancing mechanism fell by 16% in December 2023 according to Modo Energy, to £2.5k/MW.

​The Loss of Load Probability (LoLP) for Britain’s grid is set to hit 99% over settlement period 37 this evening (22 November).

​Without reform of the market, the UK will miss its 2035 electricity decarbonisation target according to a new report from centre-right think tank Onward.

​Protecting investor momentum must be key to the government’s recently announced Review of the Electricity Market Arrangements (REMA), Cornwall Insight has said.

​National Grid ESO is to undertake a review of the balancing market, citing “very high-cost days” in the Balancing Mechanism in recent weeks.