The Global Energy Storage conference held in Belgium two weeks ago was a great rounded conversation that combined policy, revenues, and technology topics to help companies and policy makers in finding a path forward.
Our colleagues Keila and Niel attended. Here are some their insights:
It’s refreshing to see Energy Storage being regarded in a Global Scale, and market wide scale, specially in Europe. Over the last 10 years, the EU had a single market operating across Europe with a combined generation looking at the most efficient way to utilise power. Cross zonal capacities create c.€34billions per year of estimated benefits; and it’s estimated that price volatility would have been 7 times higher during the crisis if national markets had been isolated.
It has been accepted that renewable deployments need to triple. To support this growth, the EU is proposing to offer more long-term contracts, increase system flexibility and increase optimisation of the intraday market. Governments are also working on reforming the electricity market to make energy bills more independent from the short-term market price of electricity, thus decreasing volatility on energy prices for the end consumer.
With the forecast of increasing electricity demand, not only by population increase but by the electrification of transport, the electricity market needs to be stabilised and flexibility is at the core. This needs to be a continent-wide approach, including support for emerging markets, that are more affected by geopolitical conflicts. The last wakeup call has been the importance for an internal energy system on a country-by-country basis.
We are now present in the European Market, and are very keen to discuss with landowners and developers about their targets to build new generation in Europe and beyond.
Do get in touch with the team.