Energy Pricing
Last month saw the launch of the UK Emissions Trading System (“UK ETS”), which replaces the EU equivalent which the country left at the beginning of the year with the implementation of Brexit. The first auctions on ICE took place on 19 May with [...]
Winter 2020 was a bumpy ride in the GB electricity market. Electricity Margin Notices ("EMN") (the new name for a “NISM” – Notice of Insufficient System Margin) were issued six times, there were two Capacity Market Notices ("CMN") (following one on 15 September just [...]
While working on my new training offering, I have been reading about the very earliest days of electricity and reflecting on how some of the early trends of local electricity markets and de-centralisation are experiencing a renaissance. The 19th century saw a great many [...]
On 1 January 2021, the UK left the EU's internal energy market (“IEM”), meaning that trading over the interconnectors between GB and the EU us no longer be managed through market coupling (except for Northern Ireland which remains part of the Single Electricity Market [...]
Last week, National Grid ESO published the first costings for its Future Energy Scenarios (“FES”). The key conclusions of its analysis are: The cost difference between the four scenarios is just 7% The total cost of each scenario over the next 30 years is [...]
There are signs of squeezed power market supply and demand margins. Last week saw National Grid ESO issue two Electricity Margin Notices (the new name for the Notice of Inadequate System Margin, or “NISM”), warning of a potential shortfall in electricity generation in the [...]
This month saw a flurry of negative press about smart meters as journalists awoke to the implications of some proposed industry changes that could lead to suppliers remotely switching off appliances used by domestic consumers. Back in July, SSE proposed a modification to the [...]
To provide some light relief from the pervasive discussions of the novel coronavirus, I thought it might be nice to look at an interesting aspect of the Brexit negotiations. Brexit sentiment has swung significantly if perhaps not yet decisively towards a “no-deal” Brexit, and [...]
As the country largely remains locked down, electricity demand continues to be low, and renewable generation high, particularly in the current sunny weather. This is creating challenges for National Grid ESO in balancing the electricity system, and so it is introducing new tools to [...]
I wrote recently about the increasing incidences of negative electricity prices, driven by the limited ability to store electricity meaning that to all intents and purposes, electricity is consumed as it is generated. However, electricity is not the only market where prices can turn [...]