National Grid Electricity System Operator (ESO) has submitted it’s Business Plan for the RIIO-2 period to Ofgem, outlining its plans to operate a carbon free, balanced system while lowering consumer bills.
National Grid Electricity System Operator (ESO) has made changes to its balancing mechanism (BM) that will allow a wider range of participants from today.
UK power prices turned negative for nine consecutive hours on Sunday in what’s been billed as an “extraordinary turn of events” for the country’s electricity system.
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.
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.
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.
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.
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.