In the balance: Analysing volatility in the BM

In this week’s blog, we focus on developments for the Balancing Market (BM) in the SEM. 

The BM is where the Transmission System Operator (TSO) can take actions to ensure the transmission system remains within operational parameters as supply and demand changes. Actions here ultimately determine the imbalance settlement price (ISP) for settlement of balancing actions.

To keep reading, please log in to your account

Alternatively, please sign up to receive free market insight online and direct to your inbox

Related thinking

Announcement

The top 5 podcasts of 2020

We released 13 podcasts in 2020 covering all aspects of the energy market, from the Capacity Market and Electric Vehicles to Faster Switching and heat networks. Here are our top five podcasts of the year, ranked by the number of people who listened. 5. The Impact of COVID-19 on System...

Low carbon generation

Analyse thy neighbour: Interconnectors and their importance to future power prices

Whilst we build towards 2021 and post-Brexit energy markets, focus has been applied to how we in GB strive towards net zero ambitions with a more independent policy agenda. However, regardless of future trading arrangements, interconnectors with EU nations will continue to play a pivotal role in driving wholesale power...

Energy storage and flexibility

Network innovation: coordinating Active Network Management schemes and Balancing Services

The volume of generation connected to the distribution networks is increasingly rapidly. Cornwall Insight is part of a consortium developing an innovation project focusing on specific conflicts which this can create in the market, with the aim of developing learnings which can be applied in a broader context. Over 30GW...

Low carbon generation

Demand trends: August sees highest demand since March

This article was originally published on 25 August 2020 in our ‘SEM and commodity pricing report’.   In this week’s blog we take a look at the latest fundamental developments impacting power prices in the SEM. This will see us take a look at wind generation in the SEM this year, while...

Commercial and market outlook

Changes: how our Spectrum service is evolving

This article was originally published on 9 June 2020 in our ‘Energy Spectrum Ireland’ publication.  Since Cornwall Insight launched the Energy Spectrum Ireland Service in 2015, it has been providing insight on key developments in the energy markets in Ireland. With the macro market trends of decarbonisation, decentralisation and digitilisation,...

Low carbon generation

The Balancing Mechanism and BSUoS under lockdown

The COVID-19 pandemic and subsequent lockdown restrictions have severely impacted the GB energy market with demand and prices at record lows. As market conditions have drastically changed, National Grid Electricity System Operator (NG ESO) has been much in the spotlight, with the current low demand scenario providing new operational challenges....

Low carbon generation

RESS-1 application closing date is further extended

With a lot of uncertainty around the impacts of COVID-19 on global supply chains and renewable project delivery we are starting to see the effects in the Irish Energy market, notably the announcement that prequalification for the Renewable Energy Support Scheme in Ireland will be extended. In December 2019, the...

Energy storage and flexibility

Tootsie slide: Demand drop

Since both governments of Ireland have restricted movement in the light of COVID-19, we have observed changes to working patterns. This has subsequently resulted in a reduction and shift in demand profile for the island of Ireland. This week's blog looks at demand reduction since COVID-19 restrictions have been in...