Nord Pool’s Post

We spoke to our market experts for a roundup of the key trends in the electricity market over the past month. If you’re looking to understand what has impacted electricity prices in the wholesale market recently, as well as REGO updates and a summary of National Grid ESO’s Early View of Winter, take a read of June’s edition of Bryt Insight. https://lnkd.in/eKpavRRd #BrytInsight #EnergyMarketUpdates #RenewableEnergy #BusinessEnergy

Who likes cheap electricity? Or at least a chance at cheap electricity every day? We've written a submission to the Queensland Competition Authority's consultation on regulated retail electricity prices in regional Queensland. You see, regional Queenslanders don't have competition in electricity retail the same way as you or I might. That isn't necessarily a problem if they have access to great tariff structures and competitive prices. For this reason, we've asked the QCA to imitate settings that allow offers like AGL's night saver EV plan, and similar plans from powershop, simply energy and ovo. It's so easy to follow, just one competitive rate for most of the day and a really cheap rate (8c/kWh) from midnight to 6am. Many EV owners have solar, so they're already incentivised to charge in the middle of the day, if they can't, then the next best thing is to avoid the peak dinner time session and target charging from midnight. It's good for the wallet and good for the network. If you operate in this space, you can read more here https://lnkd.in/g6zpcNS9

We're really liking the look of this new commercial and industrial solution for customers. We estimate that in most cases we're looking at a 3.5 year to 5 year payback at current electricity rates for most businesses and stratas

#GB: This week saw some interesting trends in the GB electricity market: A return to normal levels of demand after the end of the Christmas break 🎄, with levels of average demand up 20% week-to-week. Gas-fired generation tripled 🔥, and day-ahead prices rose by 59% and 49% for EPEX and Nordpool respectively 📈. The day of the week with the highest level of demand was Sunday! The weekend is typically a period of low demand compared to the rest of the week, demand exceeded 41GW on Sunday afternoon ⚡, with cold weather likely to blame ❄️. The Viking Link interconnector, which began commercial operation on December 29th 2023, is primarily in a net import position for GB, with the cable imported at maximum capacity on multiple occasions across the week 🌍🔌. #energymarkets #energysector #marketdata #vikinglink #interconnector

Are you on track to trade? We will be holding an ‘On Track to Trade’ webinar on the 15th January at 1pm where we will be talking about both Long Term Trades and Low Voltage Sustain Trades for our local flexibility markets. We will be covering; 📢 What flexibility needs are being procured and pricing ✅ How to qualify to enter the procurement through National Grid's Market Gateway platform (https://lnkd.in/eC87kPSH) 📥 Information on the bidding process 🗣️ Further sources of information and help You can register for the webinar https://lnkd.in/ekKCNNqG #flexibility #dso #nationalgrid #trades #localmarkets

NEW DECISION ON MECHANISM TO ADJUST AVERAGE ELECTRICITY RETAIL PRICES ⚡️🌟🛠️ ▶️ On 26 March, DPM Le Minh Khai signed Decision 05/2024/QĐ-TTg regulating the #mechanism to adjust the average electricity retail prices (#AERP). This new Decision replaces the previous Decision 24/2017/QĐ-TTg. ▶️ Accordingly, annually, #EVN examines the power production and business costs from two years prior (N-2). Based on this assessment, the average electricity selling price for year N is reviewed and adjusted to reflect changes in #input_parameters across all stages, including generation, transmission, distribution, system balancing and operation, electricity market management, auxiliary services, and industry management. Additionally, costs not previously factored into the electricity price are allocated accordingly. 👉👉 Photo credit: Manh DO #pewg_update #pewg_electricity_pricing

When there is a combination of increasing demand (for instance, due to cold weather) and decreasing wind generation (due to lack of wind), other units need to be deployed in order for generation to meet demand. In this case, there was an increase in CCGT (Combined Cycle Gas Turbines) generation. Base units, conventional units and peak units that can start producing fast will always be needed, in view of the stochasticity, volatility and impredictability of RESs as well as the lack of storage and/or demand response. In addition, here we can observe the importance of the establishment of a well interconnected electrical system.

Are you one of the millions of UK businesses tied into a high-cost energy contract? Were you aware, you are able to renew your contract up to 12 months before your contract end date? This allows you to stay ahead of the curve and lock in a good rate prior to the end of your contract. Between July 2023 and February 2024, the electricity wholesale market fell by 47%. At Switch365 we will track the market for you and inform you about optimal renewal points. To keep your bottom line down and profit margins up! Speak to one of our dedicated account managers today - 0345 365 4 365

Feeling the frustration of the ongoing load shedding inconveniences? Don't let power cuts dim your day! At Open Energy Group, we understand the inconvenience and disruption caused by load shedding. That's why offer reliable backup power solutions that keep your home and business running smoothly, no matter what Eskom throws our way. With Eskom announcing the push to Stage 4 load shedding, we know the importance of having a dependable backup plan in place. Our range of back up power solutions ensures that you're never left in the dark. From generators to solar power systems, we have the expertise and solutions to keep your lights on and your business operational. Why choose us? ✅ Trusted and experienced professionals in the back up power industry. ✅ Comprehensive range of backup power solutions tailored to your needs. ✅ Efficient and reliable systems to minimize downtime during load shedding. ✅ Dedicated support to ensure your power needs are met, even in challenging times. Don't let load shedding disrupt your life any longer. Contact us today to learn more about how we can help you stay powered up through Stage 4 load shedding and beyond. Say goodbye to blackouts and hello to uninterrupted power with Visit www.openenergygroup.co.za

As summer approaches and District residents prepare for increased electricity usage during hot days, we're encouraging consumers to budget for higher utility costs and explore retail choice options. More: https://bit.ly/3NsNBm6