It’s hard to go a single day without hearing about the energy transition, or efforts to increase sustainable energy sources. The EU has set targets to reduce greenhouse gas emission to 80% below 1990 levels. Aside from this, several countries are phasing-out nuclear power. The entire energy mix is shifting towards Renewable Energy Sources. The increase in Wind and Solar Energy plays a major role in this transition.
However, the transition is far from complete. Renewable production will just be a part of the transition. Storage of energy will become more important, to provide the energy in scarce situations. Flexibility will be needed when energy systems depend on Wind and Solar energy.
Electricity trading is the transfer of power from producers to consumers. Electricity generators sell power to the power suppliers in the wholesale electricity market, who then sell this electricity to consumers.
This process is overseen by the system operator, who maintains the electricity grid and ensures that there is stable, secure and efficient flow of power.
Trading occurs in both long-term and short-term time scales; trade deals can range from years in advance to minutes in advance. In our current market, electricity generated must always be consumed
