Prospects for energy markets in Europe. Vision of the Future: Batteries and Storage

During the spring and summer of 2023, hourly prices of zero Euros per MWh or very close to that value were registered in the Spanish electricity market during solar hours, mainly on days when electricity demand was lower. Also, increase in renewable energy generation has led to a higher number of episodes of renewable energy curtailments. However, in the hours of lower renewable energy production, market prices continue at high levels because they depend largely on gas prices which, this summer, stopped the downward trend of the first half of the year and had several episodes of significant rebounds. These phenomena, which also affect the rest of European electricity markets, could be reduced with batteries and energy storage.

Batteries, and energy storage in general, will be able to take advantage of the hours of higher renewable energy production and, therefore, of lower market prices, to charge themselves, and subsequently pour the energy into the grid during the hours of lower renewable energy  production and higher market prices. This, in addition to flattening the hourly price profile, will help to reduce energy dependence on foreign sources, reduce greenhouse gas emissions and avoid a large part of renewable energy curtailments.

This webinar will feature the participation of Luis Marquina de Soto, President of AEPIBAL, the Business Association of Batteries and Energy Storage, to analyse the vision of the future of batteries and energy storage. In addition, the usual analysis of the evolution and prospects of European energy markets will be carried out.