National Grid ESO is required to keep the lights on - at the least cost to consumers. In the Balancing Mechanism, this means that the cheapest available action should always be taken first. When a more expensive action is taken, it means a Bid or Offer has been “skipped”.
Market & Policy Updates
South Australia has launched the first round of its Firming Energy Reliability Mechanism (FERM) tender, a program designed to secure long-duration dispatchable capacity as the state transitions to higher penetrations of variable renewable energy. The tender is administered by the Australian Energy Market Operator Services Limited (ASL) and targets 400 MW of firming capacity to be online by November 2028.4 hours ago
