As the country goes into lockdown, the power demand profile is changing due to the shutdown of offices and industry.
The UK’s electricity system price spiked to £2,242/MWh last night (4 March 2020) following lower than expected wind generation during the evening peak.
Negative pricing will be a ‘big feature’ in net zero transition as UK sees 15 periods in 2020 so far
Negative power pricing is becoming an increasingly common occurrence on the UK energy networks. Already in 2020, there have been 15 half hour periods where the cost of electricity fell into negative figures, according to Drax Electric Insights.
SET Ventures has raised €100 million in its most recent funding round, which it will use to invest in early stage energy companies throughout Europe.
High wind over the weekend sent power prices plunging as a surge in UK wind generation triggered negative prices for a record length of time, according to National Grid.
Energy tech firm Limejump has penned a short-term power purchase agreement with UK solar investor Bluefield Solar Income Fund.
Flexibility providers called on by National Grid ESO jumped into action last week in response to grid frequency falling to 49.59Hz.
Oil and gas major Shell has outlined an overhaul of its company strategy as it bids to take advantage of worldwide electrification.
Shell Energy said its decision to rebrand was a “line in the sand” as it pledged to kick-start a consumer-facing revolution in the supply market.