Solihull/London (04/12/17) – UK Power Reserve is confident that the battery storage industry in the UK has a bright, prosperous future and we are committed to advancing the sector and its central role in the low carbon, flexible energy system of the future. As a leading developer of the technology, UK Power Reserve is determined to bring its 120MW portfolio online in the coming years and to triple its existing capacity by the end of the decade.
We accept and understand the Government’s decision to de-rate battery storage ahead of the Capacity Market auction in February next year. We agree with the conclusions from the Department for Business, Energy and Industrial Strategy that de-rating factors should reflect technology duration, and believe that this is in the best interests of the market and the consumer.
This decision provides the incentive for developers to build the higher quality, longer duration batteries that can help secure the UK’s electricity supply when it is threatened during a stress event. It protects security of supply and delivers real value to the consumer – the founding principles of the Capacity Market.
We look forward to continuing to work with the Government to support the development of the UK’s battery storage industry. UK Power Reserve will continue to build on its success and grow its portfolio beyond a gigawatt in the coming year, both in the UK and abroad.
About UK Power Reserve
UK Power Reserve is the leading provider of flexibility to the UK energy system. Our 813MW portfolio of low carbon, decentralised assets include 120MW of battery storage, one of the biggest in Europe. With rapid response, low cost assets located close to centres of demand, we are improving competition and delivering value to consumers. An innovative, disruptive voice in energy, UK Power Reserve is advancing its ambitious growth plans in the UK and beyond.
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www.ukpowerreserve.com | @UKPowerReserve