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CCGT plants help balance the market during price spikes

CCGT plants help balance the market during price spikes

Andy Robinson
Balancing Mechanism, CCGT, Cornwall Insight, electricity, France, IFA2, interconnector, National Grid Electricity System Operator, National Grid ESO, renewable generation, UK, winter
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CCGT plants help balance the market during price spikes: January saw the day-ahead baseload power price (for a 24-hour period) reach £100.0/MWh or higher on seven separate occasions including four consecutive days between 11 and 14 January, while imbalance prices reached a record high of £4,000.0/MWh. During this time, the vast majority of offer volumes…
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Price cap rises but is expected to increase further still

Andy Robinson
Cornwall Insight, coronavirus lockdown, electricity, electricity bill, Ofgem, price cap, renewable generation, UK
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Price cap rises but is expected to increase further still: Commenting on today’s Ofgem announcement that the default price cap would increase by £96 to £1,138 for the six months effective from 1 April 2020, Robert Buckley Head of Relationship Development at Cornwall Insight, said: “This is a substantial increase which negates all of the…
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Ireland will need to more than double its renewables

Andy Robinson
2050, battery storage, Capacity Market, Cornwall Insight, electricity market, interconnector, Ireland, net-zero, power market, Renewable, renewable generation
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Ireland will need to more than double its renewables capacity over the next 25 years to meet 2050 targets: Findings from Cornwall Insight’s ‘All-Island forward curve’ – a comprehensive market and asset-level power price modelling service – shows that Ireland will need to more than double its renewable capacity over the next 25 years if…
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Seven suppliers owe £34m in RO and FiT fees

Andy Robinson
Business Energy News, Efficiency & Environment, energy supplier, Feed-In Tariff, Finance & Markets, Ofgem, Renewable energy, renewable generation, Renewables Obligations, Uncategorised
Seven suppliers owe £34m in RO and FiT fees: Seven energy suppliers have been ordered to pay £34 million by Ofgem which they owe in Renewables Obligations (RO) and Feed-in Tariff scheme levelisation payments. Suppliers have to demonstrate under the governments’ RO scheme, they met their obligations by having sourced enough electricity from renewable sources…
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