We saw supressed system prices all last week, as the COVID-19 crisis and the national lockdown combined with sunny and relatively warm weather to relax demand.
Power demand has been dropping as the UK entered its first full week with closed schools, businesses in shut down and homeworking in place for many.
Limejump is pleased to see today’s announcement from Penso Power that it is extending its 100MW storage project by a further 50MW. The Minety project, 12 miles northwest of Swindon (Wiltshire) is Europe's largest battery storage development.
We anticipate that demand for power will fall as the effects of Covid-19 start to take hold across the UK – but last week (and indeed at the time of typing this blog) it’s business as usual as far as dispatch goes.
The Week in Flexibility: Wednesday wows with a huge system price spike while Thursday brings a close frequency call
On Wednesday night we witnessed an unusually high system price. The imbalance price on the UK grid hit £2,242 at SP37 (1800-1830) and then £1,708 for SP38 (1830-1900). After which, it dropped back down to a ‘normal operating range’, before crashing to £0 making it a night – all in the space of 2 hours.
The week before last, wind dominated the flexibility highlights, and last week saw similar outperformance and curtailment, with storm Jorge adding to the record wind delivery in February.