Monday 26 November 2012

Ofgem gives £13.2m to energy storage project

Energy watchdog Ofgem has awarded a fund worth £13.2 million to a four-year long energy storage project.

The cash from the regulator’s Low Carbon Networks (LCN) Fund will help the UK Power Networks trial the 6MW electrical storage on the grid while looking at ways to do this at a decent price.

The storage device will be used as an alternative method to cut the immediate need for upgrading the electricity network and counter lectrical capacity constraints at the site.

Ben Wilson, Director of Strategy and Regulation and Chief Financial Officer said: “The lessons learned from the project will be of significant value to all network operators as the project will support the more efficient and rapid adoption of storage, helping to accommodate more low carbon technologies and reduce overall costs for consumers.”

The  ‘Smarter Network Storage’  project is expected to start in January next year.