The introduction of balancing settlement code modification P415 aims to open up wholesale markets to all types of flexibility, decreasing barriers to entry for independent aggregators by allowing participation beyond a consumer’s licensed electricity supplier.
Energy consumers who can be flexible with usage do not currently see any value from their actions, except through their licensed electricity supplier, who does not offer demand response services. The introduction of P415 will enable flexible consumers to appoint an independent aggregator, allowing participants of demand side response to enter into the wholesale energy markets and incentivize increased consumer participation.
In this episode of the Transmission podcast, Paul Troughton - Senior Director of Regulatory Affairs at Enel X - discusses the code change that he put forward. Over the conversation, he talks about:
- Introduction to P415 and the roles of independent aggregators and virtual trading parties.
- How demand response works, particularly for commercial and industrial users.
- Challenges of demand response, supplier compensation and the importance of accurate baselining.
- The potential impact of P415 and the accessibility it opens up to wholesale markets.
- The future of demand side response in Great Britain.
By optimising how and when energy is consumed, Enel X enables commercial and industrial scale energy users to extract value from the energy markets by leveraging their flexible energy assets in ways that support a greener, more stable and resilient electricity grid. For more information contact us today.
The Transmission podcast is brought to you by Modo Energy. Modo Energy provides forecasts, benchmarking, data, and insights for new energy assets - all in one place. Built for analysts, Modo helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets. All podcasts are available to watch or listen to on the Modo Energy site. To keep up with all the latest updates, research, analysis, videos, podcasts, data visualisations, live events, and more, follow Enel X and Modo Energy on LinkedIn. You can also check out The Energy Academy, the video series of bite-sized chunks explaining how different battery energy storage systems work.
