Tuesday 30 July 2024

Elexon confirmed as new market facilitator

Ofgem has made Elexon, not-for-profit electricity market expert, the new market facilitator to improve energy flexibility.

Research conducted by the Department for Energy Security and Net Zero (DESNZ) in 2021 showed that flexibility could help save an estimated £30-70 billion by 2050, helping customers save on energy bills.

A flexible and efficient use of the energy system will reduce the need for new energy generation and a new electricity network, further saving on costs and delivering energy security.

Elexon will work closely with Ofgem, the Electricity System Operator (ESO) and the Energy Networks Association (ENA), local networks, and Flexibility Service Providers (FSPs) to drive alignment between local and national flexibility markets and remove any barriers.

Ofgem Director Eleanor Warburton, said: 'To successfully operate the developing low carbon energy system of the future we need more flexible tools to make the best use of our intermittent wind and solar potential along with network and consumer assets to meet demand.

'As market facilitator Elexon will be able to coordinate and align local and national energy markets to unlock the full value of flexibility.'