What does the future hold for electricity markets?
Updated: Nov 10, 2020
According to a briefing paper by LCP Energy Analytics, "with much more of the market being driven by weather conditions we see revenue moving away from the longer-term wholesale market with a much greater emphasis on the intraday, balancing and ancillary services markets in the future. To maintain a stable system there is an increasing requirement for generation with the ability to adjust its output rapidly and at very short notice. This flexible generation is key to enabling greater levels of renewable penetration on the system." Our X-FLEX H2020 project intends to address this topic in 4 demo sites in Europe.
Also, when it comes to renewable energy sources, Europe's goal is to become the world's first climate-neutral continent by 2050. This requires immediate action, not just at the level of redefining roadmap for the next decade with inclusion of renewables in energy mix, but also quickly commiting to implementation. The below stats show the share of renewables in different EU countres in 2018 vs their targets for 2020. So, are we content with reaching 80%, 90% or 150% of our goal? European citizens have a voice and enablers to have their say in the decade to come with further liberalization of energy markets. We have developed roadmap for several electricity providers in Central Europe in terms facilitating higher RES penetration and development of new business models based on RES and weather data. Contact us to learn more.