Energy Transitions Podcast: Europe’s urgent need for flexible balancing power
Pamela Largue
Posted on: 14 March 2023
Without energy market reform to boost flexible balancing capacity, Europe could miss out on achieving its ambitious renewable energy goals.
Without energy market reform to boost flexible balancing capacity, Europe could miss out on achieving its ambitious renewable energy goals.
That was the bottom line of a report from Wärtsilä that focuses on managing system imbalances of a renewable-based energy system.
To discuss the report’s findings in more detail and to unpack measures needed to attract investments into flexible power, Pamela Largue spoke to Anja Frada, chief operating officer of Wärtsilä Energy.
Frada delves into the importance of creating a technology-agnostic capability market and improving price transparency.
She also talks about why we can be hopeful about the next decade, what challenges need to be addressed and how we go about mitigating risks to our energy system of the future.
"We need to have the capability market, we also need to ensure that we get more flexible technology investments by having more granular pricing signals and also being better at pricing certain services that the flexibility can offer the system"
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Resources: Energy Market Redesign: For a Decarbonised Europe
Subscribe and listen to all episodes of the Energy Transitions Podcast
Previous episodes:
Hedging bets on European offshore wind
Weighing the true cost of carbon capture
Why a gas price cap could worsen the energy crisis
More insights on system flexibility:
‘We need to provide maximum flexibility to the grid without jeopardizing its integrity’
Monetising flexibility as a fix for grid congestion
Demand-side flexibility and system efficiency paramount for net zero goals – SmartEn boss
