Wood Mackenzie Power & Renewables

Read our Power & Renewables recap newsletter now! Download our expert's presentations from this year's World #Hydrogen Summit, read our US #solar market insight Q2 2024 report and dive into the current dynamics of volume and price within the GoO market 👇

Here's your weekly Americas short-term #power insight 💡: DASIt even matter? How the Day-Ahead Ancillary Service Initiative change will impact the New England ISO (ISO-NE). ISO-NE recently announced a new DASI that has the potential to fundamentally change price formation in the market. In Wood Mackenzie’s recent Fall 2024 outlook, our ISO-NE analysts did a deep dive into the initiative and explained how these changes could materialise. DASI will create two new ancillary service categories and is intended to accurately reflect reliability costs in the day-ahead market (DAM). Additionally, the project will require a ‘Forecast Energy Requirement’ (FER) to ensure enough energy is cleared in the DAM. For more information on how our analysts and price forecasts can help you stay ahead of DASI, visit: https://okt.to/2DYvKU

Join our European #power and #energystorage experts in our upcoming webinar on Thursday 26 September at 10am BST, as they share their latest insights on the evolving dynamics of markets, the critical role of energy storage in serving the growing need for flexibility, and our new analysis of ancillary market opportunities. For more details and to register for the webinar, visit: https://okt.to/RMudn0

Here's your weekly short-term Japan #power insight💡: It's the first time in the past two years that the Chugoku-Kyushu line reversed transmission direction was seen after the 1.4GW Reihoku power plant in Kyushu shut down on 25 August. Kyushu Electric Power’s 1,400MW Reihoku coal-fired No.2-unit experienced boiler issue due to hot weather and went under maintenance since 21 August, bringing down 700MW of availability. The unit is expected to return on 21 November. A further outage happened to No.1-unit on 25 August, bringing the total generation down to 100MW. The unit returned on 26 August. Kyushu reduced exports to Chugoku during the day on 25 August, then reversed to import from Chugoku on the same day. It was the first time in the past two years that Kyushu was seen on the importing side. Meanwhile, other major power plants in Kyushu were generating at stable levels, including the 2.36GW Genkai nuclear power plant running at capacity and Matsuura coal-fired power plant operating over 2.5GW during peak time and major gas-fired power plant Shin Oita over 2GW. The impact of Reihoku’s output reduction will not last long since the 890MW Sendai No.1 nuclear unit will come back on 29 August, making up for the drop in Kyushu’s generation. Find out how our short-term analytics can help you here: https://okt.to/GyfU8b

From storms and cold snaps to heatwaves, extreme weather events can have major implications for #electricity generation and supply – and as a consequence, for #powermarkets. Being able to anticipate extreme weather and understand its potential impact on electricity availability and pricing is therefore extremely useful to market stakeholders, from asset owners and grid operators to power traders. Read on for our insights into overcoming weather-related power outages and maximising electric system resiliency: https://okt.to/ahxH41 #EnergyTrading

Global power demand is set to rise significantly as the #energytransition progresses, with #electricvehicles, decarbonised heating, #AI processing and green #hydrogen all contributing strongly. But can power generation keep up, and what are the implications for supply and prices for different regions? In our regional power Strategic Planning Outlooks, our expert local analysts explore the road ahead for power markets across Asia Pacific, North America and Europe. We explore APAC's upcoming US$4 trillion investment boom, large load growth in the US, and how Europe is rethinking the pace of transition in pursuit of #netzero. Find out more: https://okt.to/PMkF3y

💡Over 12,000 households’ blackout hit by Typhoon Ampil last week in Kanto area, while Tokyo was observed exporting power at a weekly high of 1GW to the Chubu area. On August 16-17, five major JERA #gas plants underwent planned outages due to Typhoon Ampil, resulting in a total loss of over 8GW of capacity, another 3GW+ of unplanned outages were seen by #PowerRT platform, Wood Mackenzie’s real-time #power monitoring system. During the household blackout in Tokyo Electric Power Grid Area, Tokyo was observed exporting power at a weekly high of 1GW to Chubu area, which is known for its substantial pumped storage capacity. This unusual situation was prompted by potential damage to household distribution lines and the grid, leading Tokyo to release excess power while reducing local generation. Power price in Tokyo peaked during the day on 17 August at 21.1JPY/kWh subsequently, same as in Tohoku and Hokkaido. Learn more how you can track unplanned outages in real-time through Wood Mackenzie’s Japan Power Solution: https://okt.to/NX7uLb #powergrid #poweroutage

Not long to go until our latest #solar webinar on August 28. Register here: https://okt.to/m9Gxu4 Based on our recent research, global #solar PV forecast projects 4.7 TWdc will be built between 2024 and 2033, with China accounting for 50% of that capacity growth. Ultra-low module prices intensified the rate of solar deployments last year in Europe and China and will continue to do so in the near-term. What are the key trends in global supply chain in terms of production capacity and pricing? Will US solar manufacturing buildout continue? What’s the role of India and Southeast Asia solar supply chain? Join our solar experts in an insightful discussion next week. #SolarPV #SolarModules #SolarPower

Here's your weekly short-term #power insight: 💡Record electricity demand drives Texas power prices to their price cap this week Electricity demand in Texas soared to a peak of 85.6 GW on Tuesday afternoon, breaking the previous all-time high of 85.4 GW set in August 2023. Real-time electricity prices spiked and hit the $5,000/MWh price cap as reserve capacity plummeted to just 1.1 GW. Mild wind levels also set a new net load peak of 70.9 GW and conditions were further exacerbated by ~800 MWs of natural gas generation on forced outages. Several offline units included WA Parish 3, Nueces Bay, and OW Sommers 2 (all monitored by Wood Mackenzie). In addition to these generators, the thermal unit, Jack County, was also observed to have decreased outputs after 5:30 pm on Tuesday. While many of these generators remain offline, their impact will be minimal for the remainder of the week and weekend as #powerdemand softens. For more information please visit: https://okt.to/VT7jvE

To ensure European #powermarkets decarbonise smoothly, sustained investment in infrastructure and flexible resources is needed. The ambitions of EU #energypolicy dictate a faster pace of change than is currently in evidence. So, what are the potential commercial and technical enablers of an accelerated transition, and what are the risks to success? In this article, we break down all of the key factors, from navigating revenues for grid-scale #energystorage, deploying the onshore #renewables pipeline and avoiding another false dawn for #hydrogen: https://okt.to/xTkrzK