electricity markets

Encouraging innovation in regulated utilities: consultation - response from Faraday Grid

Encouraging innovation in regulated utilities: consultation - response from Faraday Grid

The HM Treasury’s and Department for Business, Energy & Industrial Strategy (BEIS) initiated a consultation focusing on innovation in utilities, with the aim to “ensure our system of utilities regulation is fit for the future.” As an innovator of technology that will radically transform the market and with a growing global presence, Faraday Grid is keen to engage in the conversation and submitted a response to BEIS, which can be accessed here.

Faraday Grid’s response submission to OFGEM’s RIIO-2 Consultation

Faraday Grid’s response submission to OFGEM’s RIIO-2 Consultation

In response to OFGEM’s RIIO-2 consultation, Faraday Grid urges the incentivisation of fundamental network-wide solutions as opposed to seeking out incremental mitigating technologies providing only temporary relief from network-wide pressures.

Electricity grids and markets: current status, problems, and opportunities for the Faraday Grid

Electricity grids and markets: current status, problems, and opportunities for the Faraday Grid

White Paper by University of Edinburgh Chancellor’s Fellow Dr Harry van der Weijde analysing the current status of electricity grids and markets considering clean energy goals. The paper finds that the current electricity system is fast approaching a breaking point and will not be able to handle higher levels of renewable energy without substantial new costs that would hit consumers.  Dr van der Weijde concludes that the Faraday Grid can resolve the challenge of increasing renewable energy penetration and preventing the looming threat of doubling or tripling of longer term electricity prices.

Energy Explainer: Electricity Markets

Energy Explainer: Electricity Markets

In order to explain how the lights stay on, we first need to have a broad overview of how electrical networks work. This article gives a review of the evolution of electricity markets over the past century and explains the complex system they have become.