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Orkney Islands welcome local energy trading market

The energy trading trial on the Orkney Islands has been a success. The scheme focused on delivering real-time trading between renewable generation and local grid flexibility. The trial saw 1,300 successful trades.

The project, known as TraDER, is ran by Electron and aimed to bring generators and renewable assets together in a local energy marketplace (LEM). As a result, overcoming restrictions of renewable assets and generators when they were outputting lower than the expected levels.

The LEM will help resolve grid congestion, lower consumer bills in the region and reduce waste renewable power outputs.

Jo-Jo Hubbard, Electron’s Chief Executive, commented;

“We believe that coordinating national price signals with local grid requirements is absolutely key to maximising the incentive for local flexibility to come online and, in turn, enabling the zero-carbon grid. Moreover, the more we see negative national electricity prices, the faster we need a solution that ensures that this does not disturb grid resilience at a local level. We believe that this is the first multi-sided local marketplace that actually affects the physical flow of power and brings more zero-carbon, zero marginal cost power online, and we are thrilled to be working with our TraDER partners and the engaged community of Orkney to make this happen.”

Furthermore, research from the Orkney Renewable Energy Forum (OREF) suggests that improving the grid infrastructure could increase revenue for existing wind developments by £2.7 million per year. In addition to this, a poll showed that nearly 9 in 10 Orkney residents support the development of renewable energy projects on the islands.

If you would like to read more on this development, follow this link to Edie who have explored the news further. 

Categories: Energy (General)
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