Market Information Blogs
Company Profile – Ofgem
Ofgem (the Office of Gas and Electricity Markets) are the regulators for the electricity and downstream natural gas markets in Great Britain. Ofgem are a UK government department, however, they are an independent regulator and act without government say or supervision. Ofgem’s main aim is to protect consumers. They do this by enabling market competition,…
The £600m/year market you didn’t know existed – the Balancing Mechanism
The Balancing Mechanism is a market operated and utilised by National Grid Electricity System Operator (NGESO) to help them maintain the safe operation of the UK electricity network. The electricity network must be balanced at all times i.e. generation and demand must be equal, otherwise power failures and infrastructure failures may result. As electricity is…
Homeowners could take part in this £430m/year market – Ancillary Services
My previous post discussed the real-time actions National Grid Electricity System Operator (NGESO) can take to ensure the safety of the network via the Balancing Mechanism (LINK). NGESO can also take actions in advance of real-time, by offering contracts to power plants/and or demand users which will make them available during times when NGESO forecast…
What is my Electricity Bill made up of?
What is my Electricity Bill made up of? Consumer electricity bills are always a hot topic of conversation. There is a general misunderstanding or lack of knowledge over what makes up our personal energy bills. The average electricity bill in the UK is roughly £612[1]. The below table highlights the different areas and associated %…
Nuclear Power Stations
There are eight operational Nuclear power stations in the UK, with a combined capacity of 9.2GW (Source: National Grid TEC Register 27th August 2020). All the sites are owned by EDF. The Nuclear plants produced 56.2TWh of electricity in 2019, equating to roughly 17% of total production[1]. Nuclear plants tend to run continuously (Baseload –…
What are Interconnectors, and what importance do they have for Britain?
An Interconnector is a high-voltage cable that allows electricity to be transferred from one country to another. The cables can run either under the sea, underground or as part of an overhead line. Great Britain has a number of individual Interconnectors with other countries currently in operation, with a combined capacity of 5GW: CapacityNameCountry500MWMoyleNorthern Ireland500MWEast…
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