Great Britain's increased reliance on solar and wind energy means it is particularly vulnerable to close calls from energy shortfalls, experts have claimed, emphasising how much more energy storage capacity will be needed.
“The move to more renewable energy sources, like wind, means overall power generation is more unpredictable,” according to Martin McGhie, a manager at the Drax Crauchan power station, a facility owned by Drax Group (LSE:DRX) for storing power in the event of demand surges.
Following an eventful Monday in the UK which saw reserve coal-fired power stations almost used, and energy prices soar, calm seems to have been restored with no definitive energy shortfalls yet hitting the country.
But as the UK increasingly moves towards renewables, Imperial College London and Apricum researchers suggested that storage capacity will need to be upped by nearly ten times in the next 30 years, from 3GW in 2020 to roughly 30GW.
VH Global Sustainable Energy Opportunities PLC (LSE:GSEO) co-chief Richard Lum added: “Presently, coal and other fossil fuels disproportionality dominate the energy mix to make up for any shortfalls in terms of renewable output.”
He suggested the UK would “need to champion solutions such as carbon and battery storage, as well as gas-fired hydrogen” to prevent further shortfall risks.
Issues with the UK’s power supply were exacerbated as French operator RTE implemented emergency measures that saw power exports to Britain cut for around half an hour on Monday morning.
Facing a reduced nuclear reactor fleet and strikes among workers, France saw its supply “particularly under stress on Monday” as temperatures dropped, according to EnAppSys director Phil Hewitt.
With the lack of wind forcing the UK to rely heavily on gas for power, a far more expensive fuel following Russia’s invasion of Ukraine early this year, further concern has been raised about storage capacity.
As UK capacity only accounts for about nine days worth of the fuel, SP Angel analysts outlined that doubling that the UK’s largest storage facility Rough would cost £150mln, after it was reopened in October.
Sharon Bentley-Hamlyn, Aubrey Capital Management director took a more reassuring tone, highlighting: “Europe probably has enough gas in storage to get through the winter, despite the current cold spell.”