Storelectric blog

Storelectric blog

Finalists in more awards!

Building the businessPosted by Mark Howitt Mon, October 27, 2014 18:34
Storelectric has been nominated to the finals of two more awards!

The Cleantech Innovate awards will be announced at the conference on 12th February 2015. We scored among the highest among exceedingly strong competition, and look forward to the event.

We were also nominated and selected for the Nextgen conference awards last month. Although we didn't win (the prize was 10 hours' consulting with BDO - maybe they thought that it wouldn't benefit us, given our relationship with PwC?), every one of the judges made a point of spending time with us afterwards.

Another thing: the Capacity Market
Some have asked us why we did not bid into the Capacity Market auction. The reason for this was simple: it was designed explicitly to keep gas-fired power stations open, rather than to bring new technologies into the market. The biggest show-stoppers among their rules are that the current market requires:
(1) A trading history of at least two years, which prevents any new technologies bidding; and
(2) Fixed dates and volumes to start trading, which prevents new construction as not all lead times (e.g. grid connection times) are under the company's control.

National Grid consulted with us recently on potential changes to the market's design, so we proposed that they create a route for new technologies and projects to derogate from one or both of these; and that they reserve a proportion of their contracts for such technologies. This would remain technology agnostic, but facilitate the development and introduction of new technologies into the market. They were very interested in the suggestion.

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