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Season 3 Episode 3:
Inside GB's power market with Rajiv Gogna

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In this week’s episode, we speak to Energy Analytics expert Rajiv Gogna about the recent bizarre goings-on in the GB power markets. We hear an explainer on how the GB’s electricity market actually works, what’s been happening this month, and what it all means for the future.

Read Rajiv's latest blog: What is causing the record pricing in the GB power market?

We discuss: 

  • How the GB power market works, and has changed, including the 'Day-Ahead' price auctions, the key buyers and sellers in the market, and the role of National Grid in the final “balancing actions”.
  • What’s going on right now: low wind, high gas prices, lots of facilities offline which have created a supply crunch and a surge in prices. 
  • Should we blame unreliable gas prices or unreliable renewable energy? 
  • Takeaways for investors – what’s the latest on renewable auctions and does this affect projects with CFDs etc? As well as some interesting thoughts on how this helps make the investment case for storage. 
  • The future of the GB power sector in the context of Net Zero.
  • The impact on society: How much of the increase is passed to consumers (spoiler: all of it).
  • What it could mean for the near-term future:
    • Are we ok for this winter?
    • Brexit? (GB-France interconnector)
    • Controls on price
  • How this changes as new power sources come online:
    • The importance of storage in future GB Power Strategy

One thing to take away

Don’t use this past month as a reason to think that renewables are a bad thing. These sorts of events are expected.

The most underappreciated thing about the GB Power Market

How vastly complex it is; this conversation only scratches the surface – plugging in your device and paying your bill is only the first percent of what’s going on.

Recommendations

Further listening 

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Each LCP investment uncut podcast is for information and marketing purposes only and does not constitute any form of investment or financial advice or a financial promotion (under the Financial Services and Markets Act 2000). All views expressed by the podcast hosts and guests are purely their own opinions and do not represent those of LCP, its clients or affiliates. Our podcast listeners should always seek independent financial or legal advice before making any financial or investment decisions. Please refer to the Legal Notices section on the LCP website for further information.​

A Winter's 'Tail': What the recent high prices mean for the months ahead

A Winter's 'Tail': What the recent high prices mean for the months ahead

Webinar on-demand

Rajiv Gogna and Chris Matson look ahead to this winter and what the impacts may be for the power market.

Watch now