Insights: Transitioning to a Nodal Electricity Market in the United Kingdom

ModBESS CEO John Woodley was recently interviewed by Energex Partners, a European company that provides commercial expertise, advice and insights across the energy sector, on the benefits of implementing nodal pricing in the United Kingdom.

To provide some background, electricity costs in Europe have been rising due to its single market-wide marginal price model, which is currently set by natural gas, as well as external factors such as excessive heat waves and sanctions issued from the war in Ukraine.

These concerns, along with issues created by the rapid rollout of renewables, have resulted in the consideration of nodal pricing in the UK electricity market to lower costs.

John, like others at ModBESS, has extensive experience in such markets from his time trading power and other energy commodities at Morgan Stanley. Read John’s perspective on the nodal pricing issue in the complete article.

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