GridBeyond’s statement on the ECJ’s ruling on the Capacity Market
GridBeyond acknowledges that the European Union Court of Justice ruled in favour of a case against the European Commission’s decision to grant State Aid status to the UK’s Capacity Market. Following this decision, the Department of Business, Energy, and Industrial Strategy (BEIS) instructed National Grid to put the Capacity Market into a “standstill period” until further notice.
Michael Phelan, Chief Executive at GridBeyond, commented on the European Union Court of Justice ruling on the Capacity Market:
“The energy markets are continually transitioning in order to best support a digitalised and decentralised system. This is reflected in the regulatory changes we see today.
“GridBeyond maintains its advocacy for technological neutrality in the energy services markets, with the long-held view that both generators and DSR services should have equal opportunities to obtain capacity contracts. We support the principle behind this decision, having openly spoken to National Grid, Ofgem and BEIS about the need to reform the Capacity Market in a way that would level the playing field.
“GridBeyond provides clients access to a whole suite of energy services, where the Capacity Market is just one of many programmes available. Our energy platform, which is powered by machine learning and advanced data analytics, enables I&C businesses to benefit from multiple grid balancing programmes at the same time. We find that this holistic approach to the energy market provides peace of mind, even at a time of regulatory uncertainty. We are confident our services provide the best market value for sites with high energy consumption.
“We will continue to cooperate closely with National Grid, BEIS and other market stakeholders in developing a more digitalised, decentralised and decarbonised energy system that is fit for purpose and meets all the national and international requirements.”
Wayne Muncaster, Managing Director at GridBeyond, highlighted market uncertainty in his recent speaking appearances at the Battery Storage Event and Energy Live News Expo in October. He commented on the recent court ruling:
“The energy market continues to evolve and develop. Understandably, this causes uncertainty and requires the introduction of new rules, regulations, and sometimes opportunities. The key to succeeding, despite the uncertainty of the quickly evolving market, lays in investing in technologies proven to bring value despite the continual changes.
“That is why GridBeyond developed a highly advanced energy technology platform that enables our clients to participate in various markets and programmes, providing access to multiple revenues.
“Ultimately, market forces will take over, and clients with the technology in place to create greater flexibility and stack multiple programmes, both on and off-grid, will benefit the most significantly from the grid balancing market.”
GridBeyond will be monitoring the situation closely and will provide more detailed statements and analytics in due course. In the meantime, please feel free to get in touch with GridBeyond’s press office should you have any questions or wish to discuss the ruling in more detail.
For more information, please contact PR Manager, Joanna Spirodek on +44 (0)1923 431 638 or firstname.lastname@example.org