When electricity generation and consumption are not in balance, National Grid uses the BM to purchase changes in generation and consumption to correct the mismatch.
Unlike balancing services such as STOR, the BM is an ad-hoc market, with no forward commitments, and highly dynamic prices. It’s operated 24/7/365, with thousands of trades issued each day. Click here to find out more about how the BM works.
The BM is a lucrative opportunity for a range of asset types, including:
- Combined heat and power (CHP) generators from a range of applications, including heat networks and horticulture;
- Batteries, both behind and front of the meter;
- Peaking plant;
- Flexible consumers in many sectors, including cold storage logistics, water treatments, manufacturing, data centres and the public sector;
- Renewable resources, such as hydro, biogas, wind and solar;
- Electric vehicle charge points; and
- A range of electric domestic heating appliances, including storage heating and heat pumps.