Posted on: 26/08/2016
Today National Grid announced the results of the Enhanced Frequency Response (EFR) auction, with eight storage projects (totalling 201MW) securing contracts at an average price of £9.78/MW.
Robert Owens, Vice President Demand Side Management at SmartestEnergy comments below:
“The end of the first EFR auction is a real milestone for the UK battery storage sector. From the results we have seen so far, it seems that independent developers have done well in the auction securing 60% of the awarded capacity.
"The successful bids are certainly at lower prices than we anticipated and we will watch these projects with interest to see how they demonstrate their commercial promise.
"While it is great news that these innovators will be able to support the ‘smart power revolution’, there are still many more of these entrepreneurs out there ready to develop battery storage projects, so we hope that National Grid will continue the momentum by announcing details of future auctions.”
Video: The battery storage opportunity
Find out more about how generators and consumers can use battery storage to create additional revenue streams in our short video: