Flexibility within the industry – Mark Bygraves in New Power
Mark Bygraves has stated that flexibility platforms can help decarbonise the electricity industry in a piece published by New Power.
In his article, the ELEXON Chief Executive Officer says that greater flexibility within the electricity industry would help achieve the government’s ‘net zero’ carbon emissions target by 2050. Greater flexibility options include encouraging more demand side response (DSR) and unlocking the potential of battery storage to assist flexibility. He continued:
“We want one or more national platforms to be set up so that electricity flexibility offers can be traded with distribution network operators (DNOs) and with consumers, such as businesses, that might need more electricity at certain times.”
Flexible markets and exchanges
ELEXON fully detailed the benefits of flexible markets and exchanges in a recent Insight article, which also discusses what services can be traded on these platforms. The benefits include:
- value for money by having multiple buyers and sellers for flexibility services.
- greater competition for flexibility products.
- confidence in prices offered for flexibility products.
Working quickly to reach ‘net zero’
With the technology to support platforms available and trials regarding how they will work on the horizon, Mark concludes that all involved must move swiftly:
“2050 seems a long time away. However, the scale of the decarbonisation challenge requires industry, government and Ofgem to work quickly to make the energy system more flexible. It is our firm belief that flexibility platforms will create market places that support greater flexibility.”