Great Britain’s first Long Duration Electricity Storage (LDES) cap and floor scheme has reached its Minded to Decision stage, and Ofgem is at the heart of one of the most significant regulatory move for the storage sector. This keynote will walk through the regulator’s rationale for the 16 projects provisionally selected, covering pumped storage hydro, compressed air, lithium ion and vanadium flow batteries, and explain what a roughly 7.65GW LDES portfolio actually means for a grid increasingly reliant on renewables and vulnerable to extended periods of low wind and solar generation.
- How will the cap and floor mechanism work to reduce investment risk without leaving consumers exposed?
- What could a second window look like for developers and asset owners who didn’t make the cut this time round?
- How does Ofgem see LDES fitting alongside shorter duration battery storage in GB’s flexibility landscape?
