Energy Systems Catapult has explored new techniques for electricity price forecasts using supply-demand data to support the development of local energy market business models and innovation. The Probabilistic Day-Ahead Wholesale Price Forecasting report outlines a proof of concept for three potential forecasting models to the GB wholesale market and compares them to better understand their capabilities and limits for probabilistic price forecasting.
Net Zero now means that UK industrial emitters have the same imperative to decarbonise as everyone else. If UK industry is to lead the green industrial revolution, Government will not only have to incentivise deep decarbonisation of industry, but also ensure that UK industrial competitiveness is not unduly impacted.
In its Sixth Carbon Budget report, the Climate Change Committee recommended full decarbonisation of the power sector (including phase-out of unabated gas-fired power) by 2035. Will our current market arrangements get us there cost-effectively, meeting the huge influx of electrified transport and heating that the targets imply (while maintaining little things, like the grid stability and security that we are so used to)? That is the urgent question facing policymakers.
The UK ETS currently encompasses electricity generation, but omits natural gas (and other fuels used for heating). If the scope of the UK ETS were expanded to cover buildings, specifically heating, we potentially introduce 27 million – mostly unwilling and uninterested – participants.
This blog, as part of the Rethinking Electricity Markets project, describes a framework methodology and metrics that can be used to estimate the full set of cost and benefits associated with a wide range of low/zero carbon technologies, including generation, storage, interconnection, demand reduction and demand response.
Achieving zero carbon electricity by 2035 (as recommend by the Climate Change Committee) will be key to decarbonising many other sectors, including road transport, buildings (i.e. heating), and industry. The UK Emissions Trading System combined with electricity decarbonisation policy mandates could be vital.
A new Energy Digitalisation Taskforce (EDiT) is being launched today by the Department for Business Energy and Industrial Strategy, is partnership with Ofgem and Innovate UK, to continue the Government’s focus on modernising the energy system to unlock flexibility and drive clean growth towards net zero emissions by 2050.
A world-first, energy innovation ecosystem, the Whole Energy Systems Accelerator (WESA), is a step closer following a collaboration agreement between the Living Lab at the Energy Systems Catapult and PNDC.
Iberdrola is launching a Challenge call in collaboration with Energy Systems Catapult and the Department for International Trade (Spain).
The government needs to get out of the way to enable innovators to accelerate the shift to a carbon-free electricity grid well before 2050, according to a new report by Energy Systems Catapult. Rethinking Electricity Markets calls for a new wave of reforms to create a zero carbon electricity grid that works for consumers.
Rethinking Electricity Markets is an Energy Systems Catapult initiative to develop proposals to reform electricity markets so that they best enable innovative, efficient, whole energy system decarbonisation.
The UK has made great progress in decarbonising electricity over the past decade. Tackling transport and heat will be next, where the potential of digitalisation will be crucial. Policymakers face a raft of challenges. Energy Systems Catapult believes the architecture of the energy system requires a rethink. Strategy and Performance Director Guy Newey explains.