As lockdowns eased across Europe and electricity demand returned to pre-COVID levels, carbon allowance prices rose to record levels in the second quarter.
Recent changes in wholesale markets with an increase in renewables and interconnector capacity are expected to increase revenue opportunities and risks for energy traders.
Wind generation was the largest contributor to Britain’s power mix for a record 28 successive hours in May – the first time this trend has exceeded 24 hours. However, data recorded for the first week in June by EnAppSys, indicates the value of developing an energy storage complement.
Despite it still being early in the year, Saturday and Sunday the 25th and 26th of March saw very high levels of solar generation in the UK, with this flattening the demand shape for coal and gas plants over this weekend period, aside from the evening peaks.
Energy data analysts, EnAppSys, says that the ability of power generators to respond to demand is a more crucial component to combating potential power blackouts than adding extra capacity.
UK-based owners of peaking assets have cashed in on higher prices and revenue-generating opportunities following the launch of STOR (Short-Term Operating Reserve) as a day-ahead service.
The latest independent analysis of the UK electricity market shows that while coal has retained its top share of the power pie, renewables has become more influential and the market in general is displaying greater diversity.
Rising carbon costs and coal plant closures across Europe have resulted in gas-fired power generation overtaking output from other forms of fossil fuels for the first time in recent history, according to analysts.
Clean Coal Technologies
Windy conditions saw renewable power generation hit record levels in 2017, as the effects of the Capacity Mechanism reduced price volatility in the second half of the year. These are the key findings from a new report by energy market monitoring firm EnAppSys.