Electricity market in transition

Anyone who has been following the energy market in recent years has certainly noticed that the market is undergoing some degree of change. More renewable energy production is being built than ever before and wind farms are being built everywhere. In addition, tougher emission limits have pushed CO2 prices to new heights. In addition, the overall situation in the world is casting uncertainty upon the energy markets.

The change from fossil to renewable power sources that is happening at an increasing pace is, of course, a good thing for the planet, but it also brings challenges for the electricity sector. For example, where fossil fuel power plant production is easily adjustable and predictable, this is more challenging when it comes to wind power plant production. It cannot be switched on at the touch of a button. This change has been discussed for a long time, and recently it has been apparent in concrete terms.

So, how do we respond to this change? How can we continue to provide the best possible service to our customers, i.e., electricity users? There is and has been some discussions of consumption flexibility and it is certainly one way forward. Some, on the other hand, talk about storing electricity. It is possible that electricity storage can be implemented more extensively in the future, for example by utilizing electric car batteries.

I do not know what the ultimate solution is. There is probably no one right answer and the solution is a combination of different things, some of which have not even been invented yet. The thing I am sure of is that in the future, the need to process data will multiply. This is already taken care of by the transition to quarterly balance. They who will be best able to utilize and interpret the data in the future is likely to succeed. At Solteq, we strive to provide our customers with tools to keep all this data under control and to be able to interpret and utilize it in the best way possible. In this way, together we will be able to provide the best possible service to the individual electricity user in the future as well.