Code administrator Elexon is proposing that nationwide electricity “flexibility platforms” are set up. The platforms would allow local distribution network operators (DNOs), suppliers and businesses to buy storage output or demand-side response (DSR) services.
Gas prices on the UK’s wholesale market remain supported by the risk posed by the continuing crisis in Ukraine, but potential gains are capped by reports that the start of the winter season will be mild.
Gas bought for prompt delivery on the UK’s wholesale market over July cost 43 per cent less than the average price paid over July last year, despite rising demand from combined cycle gas turbines (CCGTs) for power generation.
The UK’s gas and power markets surged between 2-3 per cent in a matter of hours Monday afternoon before slumping back again by Tuesday morning as concern over mounting tensions in the Russia-Ukraine region sparked greater market volatility.
After months of phoney war, Ofgem has finally unleashed the CMA on the energy market. Mathew Beech reports.