The Week in Flexibility: Another week of Lockdown and another week of negative pricing against a backdrop of strong renewables and TERRE delay
Before we dive into the ins and outs of last week’s flex market, we’ll start with the acknowledgement that for now, balancing is staying local.
Regular readers of our week in flex blog will have noticed an emerging trend in our headlines … negative pricing.
Emily Gosden, the Energy Editor at The Times, this morning posted a number of tweets about National Grid’s management of the electricity system, given the big drop in energy demand caused by Coronavirus. Our Dispatch reports have previously highlighted the fall in demand and the market’s response but we thought it might be helpful to provide some additional information.
We are seeing a huge shift in the makeup of the energy mix both at home and overseas. With demand levels low, fossil fuel use increasingly is being priced out of the stack by zero marginal cost renewables. This is having an interesting impact on prices at the Day Ahead and Within Day stages.
The Week in Flexibility: Solar and wind output dominates the weekend leading to negative day ahead prices
Although days may be blurring as the UK lockdown continues, the past weekend was markedly different than the days preceding as far as power consumption goes.
Energy tech company, Limejump, has appointed Catherine Newman as Chief Operating Officer. She joins the senior management team with immediate effect, working alongside Erik Nygard, the company’s co-founder and Chief Executive to strengthen and grow Limejump’s business.