Negative imbalance pricing periods could spiral by 2034
Instances of negative pricing in the Balancing Mechanism (BM) are here to stay and only set to become more prevalent over the next 15 years, forecasts from Cornwall Insight have suggested.
Articles tagged with: balancing mechanism
In just 24 hours, National Grid’s new Distributed Resource Desk more than doubled the amount of distributed capacity to access the Balancing Mechanism, representing a key milestone in the system operator’s handling of a more decentralised power system. Liam Stoker gets the inside track on the desk’s development and how operators have responded.
National Grid adds ‘Distributed Resource Desk’ to control room to boost flexibility
National Grid has this week launched a new ‘Distributed Resource Desk’ in its control room, enabling the Electricity System Operator (ESO) to allow smaller market players to participate much faster.
Europe’s balancing markets still have ‘significant room’ for improvement
Balancing markets throughout Europe are opening up to decentralised power, but there is still “significant room” for mechanisms to improve further.
Flexibility opportunity worth £6 billion by 2030 as price cannibalisation concerns brushed off
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.
Wider access to Balancing Mechanism slated for February 2019 by Ofgem
Ofgem has approved a regulation change that will allow parties without a supply licence to participate in the Balancing Mechanism as part of preparations for the Great Britain’s involvement in a Europe-wide energy balancing platform.
Batteries perform for the first time in the Balancing Mechanism via virtual power plant
Battery assets have been used in the Balancing Mechanism for the first time via a virtual power plant, marking the start of a new era in energy storage revenues in the UK.
'Important milestone': Limejump takes first aggregated unit into Balancing Mechanism using Virtual Power Plant
Limejump has been admitted into the Balancing Mechanism (BM) using its Virtual Power Plant (VPP), laying claim to being the first to use an aggregated BM unit (BMU) in the market.
Aggregators to access the Balancing Mechanism by April 2019 under proposed reforms
Flexibility providers with units as small as 1MW will be able to access the Balancing Mechanism (BM) by April next year under proposals published by National Grid which will also allow aggregators to play in the market.