Wednesday 15 May 2019 | 11:15-12:30
It is widely recognised that the transition towards sustainable energy systems will require significant increases in the use of wind and solar resources. By their very nature these resources make power supply more volatile, reflecting the varying availability of wind and sunlight. Dealing with this new situation requires an increase in the flexibility of power systems. Pumped hydro can reduce the costs of system operation by shifting excess supply to periods of peak demand. It can also provide a range of critical system services. Storage can offer a broad variety of advantages and benefits to system.
The energy transition means new market and business strategies. Pumped hydro is evolving alongside transitioning energy systems, however, markets are lagging behind and fail to adequately reward pumped hydro for the grid services it provides.
How can pumped hydro be adequately rewarded for the wide range of power grid services it provides?
This session will explore the changing landscape for pumped storage assets. It will also look at the policy and market mechanisms that are required to ensure stable power grids and cost-effective pumped hydro operations.