Ofgem has stated it is ready to use its powers to change market rules if necessary in light of balancing costs doubling between September and November.
The top ten most expensive days in the Balancing Mechanism (BM) ever have occurred in the last three months, as costs soar to £967 million.
National Grid ESO is to undertake a review of the balancing market, citing “very high-cost days” in the Balancing Mechanism in recent weeks.
All Capacity Market Units (CMU) may be required to be part of the Balancing Mechanism, according to a new consultation launched by the Department of Business, Energy and Industrial Strategy (BEIS).
National Grid ESO is looking to unlock stacking within the Balancing Mechanism (BM) as part of the development of the Dynamic Containment service.
Flexitricity is to register the first domestic electric vehicle (EV) aggregated unit in the Balancing Mechanism (BM) thanks to a new partnership with ev.energy.
National Grid ESO has introduced a new interface for the Balancing Mechanism (BM) in a bid to make it simpler for smaller participants to join.
Habitat Energy has entered the UK’s Balancing Mechanism (BM), thanks to National Grid ESO’s Virtual Lead Party (VLP) route.
Elexon is consulting on proposed changes to the Balancing and Settlement Code (BSC) that would allow individual asset meters to be used for settlement purposes, widening the Balancing Mechanism (BM) once again.