Kelly Becker, president of Schneider Electric UK and Ireland, has released a statement reflecting on the success of better energy planning, storage and the integration of clean energy in safeguarding and stabilising energy in the UK.
Kelly said: “We saw a significant reduction in the UK domestic energy price cap in April with further reductions anticipated from July. Wholesale market prices have levelled out thanks to better capacity planning, higher storage levels and a surplus of LNG. Green energy has also been added to the mix and will provide even greater stability as we move away from fossil fuels.
“But right now, we need a smarter mix of energy made up of nuclear, natural gas and renewables. New grid technologies that manage usage and capacity can also help us to phase out natural gas elements. This will accelerate decarbonisation and protect consumers and businesses from volatility, at a time when the regulator is looking at introducing a more dynamic price cap.
“A smarter and more efficient grid that draws power from a variety of sources will allow regulators and energy companies to offer more flexible tariffs. For example, they can make better use of solar power and wind farms, investing in battery storage facilities to harness that energy and release it on-demand.
“EV owners can plug into charging points overnight to consume cheaper off-peak energy, while energy reserves can boost capacity during peak periods. If properly managed, wind, solar, and other clean energy resources like green hydrogen or hydroelectric power will provide the surplus energy we need to stabilise the market.”