Lauren Cook, analyst at Solar Media Market Research, explores the driving factors behind a storage boom that could see as much as 500MW of battery storage capacity deployed throughout 2019.
This week’s T-1 Capacity Market (CM) auction cleared at a record low clearing price of just £0.77/kW, with just one new build battery storage project winning a contract.
Coal continues to falter as SSE reveals plans to fully close Fiddler’s Ferry, its last remaining coal-fired power station.
The government has formally approved renewables’ participation in future Capacity Market auctions, and unsubsidised projects could compete as early as next year.
Ofgem has unveiled a raft of proposed changes to the Capacity Market framework in a bid to simplify it in the short term.
National Grid has been instructed to hold the postponed T-1 Capacity Market auction “as soon as reasonably practicable”.
Tempus Energy has escalated its legal challenge against the Capacity Market, demanding that all payments made under the mechanism be recovered.
The Department for Business, Energy and Industrial Strategy (BEIS) has issued more details surrounding its proposed T-1 top-up auction, but extended its window until the end of August “as a contingency measure”.
The UK’s balancing market is being held back by a distinct lack of transparency, a panel of energy suppliers have concluded.