Energy bills will fall to £1,923 a year for the typical household from October, under the new price cap announced today by industry regulator Ofgem.
Sweden retained its position as the biggest net exporter of power in Europe during the second half of last year.
This year’s T-4 Capacity Market Auction for the delivery year 2026-27 has cleared at an all-time high price of £63/kW/year with 43GW of derated capacity-securing contracts.
This year’s T-1 Capacity Market Auction for delivery year 2023-24 has contracted the highest amount of capacity yet seen in a T-1 auction at 5.8GW.
Grid has announced two new services for Winter this year. The “Winter Demand Flexibility Service” is a first outing for domestic DSR and is an exciting development.
Sweden overtook France as the biggest net exporter of power in Europe during the first half of this year.
The UK government’s plan for net-zero by 2050 also relies on nuclear power as a key component, with one of the future energy scenarios from National Grid ESO estimating over 17GW of nuclear by 2050, more than double the ~8GW today
This year’s T-4 Capacity Market Auction for delivery year 2024-25 has cleared at an all-time high price of £30.59/kW/year following the previous record in the T-1 auction of £75/kW
France maintained its position as the biggest net exporter of power in Europe in the second half of 2021, despite an extreme reliance on imports at the beginning of winter.
Like most of the countries in the continent, Spain is experiencing high carbon prices, high gas prices, low gas reserves, low water reserves and periods with low renewable generation.
As the country moves towards greater levels of renewable generation, there will be less and less traditional synchronous generation on the system.
Availability prices for FCR, aFRR and mFRR have increased dramatically since the fourth quarter in 2020. This has caused a lot of interest in flexible generation and storage. Are these prices temporary or the start of a sustained trend?
France overtook Norway to regain its position as the biggest net exporter of power in Europe in the first half of 2021. France’s total net exports amounted to 21TWh, with most of the power flowing to Great Britain (8.6TWh) and Italy (7.2TWh).
Recent changes in wholesale markets (day-ahead and intraday sessions) coupled with an increase in renewables and interconnector capacity are expected to increase revenue opportunities – and risks – for energy traders.
Looking at the monthly auctions for May 2021, which are hosted via JAO’s trading platform, our latest research shows that the price for capacity on the interconnector to export energy from Belgium to Great Britain was the most expensive in Europe at 19.42€/MW/H.
Capacity prices for FCR reached record levels of over € 1.000 per MW per hour due to scarce flexibility. Weekends in Belgium will remain very tricky, at least until the pumped storage plant at Coo will return to service, with nuclear switching off, it will be interesting to see what happens the following weekends.
STOR was re-introduced on April 1 and unlike its previous incarnation, which was tendered for season-long durations, it is based on daily auctions – giving providers the flexibility to optimise on a daily basis between STOR and other market segments.
Prices in the GB electricity market soared at the beginning of this month. The maximum day-ahead price in the market in the first week of March was £683 – more than three times the maximum day-ahead price of £191.55 seen in any day in March in the previous six years.
Britain’s exit from the EU has resulted in reduced trading on the electricity interconnectors between GB & Ireland and increased the frequency of extreme prices although the withdrawal agreement ensured that the SEM would remain intact.
Negative power prices have swept across Europe in the first nine months of 2020, with excess power in the market resulting in consumers being paid rather than charged to use electricity. European countries on average saw negative day ahead prices almost 1% of the time.