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Reference Number ETI-EN1053
Title 2030 Electricity Price Time Series
Status Completed
Energy Categories OTHER CROSS-CUTTING TECHNOLOGIES or RESEARCH(Energy system analysis) 100%;
Research Types Applied Research and Development 100%
Science and Technology Fields SOCIAL SCIENCES (Economics and Econometrics) 25%;
PHYSICAL SCIENCES AND MATHEMATICS (Applied Mathematics) 25%;
PHYSICAL SCIENCES AND MATHEMATICS (Computer Science and Informatics) 25%;
ENGINEERING AND TECHNOLOGY (Electrical and Electronic Engineering) 25%;
UKERC Cross Cutting Characterisation Systems Analysis related to energy R&D (Energy modelling) 100%
Principal Investigator Project Contact
No email address given
Baringa Partners LLP
Award Type Standard
Funding Source ETI
Start Date 01 January 2018
End Date 31 December 2018
Duration 12 months
Total Grant Value £100,000
Industrial Sectors Energy
Region London
Programme Energy Storage and Distribution
 
Investigators Principal Investigator Project Contact , Baringa Partners LLP (100.000%)
Web Site
Objectives Objectives not supplied
Abstract About the project
  • A detailed analysis of the potential cost components that determined the price for domestic retail electricity supply in 2030.
  • Based on a number of scenarios for the capacity mix in 2030.
  • The project was delivered by Baringa, the independent business and technology consultancy.

This knowledge building project sought to outline a number of price scenarios for the retail price of electricity across a number of different energy vectors in 2030. This was to help build the ETIs evidence base of the operation of future UK energy systems and markets. This was also to stimulate a discussion about the realities of 2030 electricity system operation and uncertainties about this.

This project, which was delivered by Baringa built on their existing time series of hourly supplier electricity costs for 2030. They delivered an hourly electricity price series for 2030 based on traceable assumptions for three different 2030 supply-demand scenarios.

The findings from this project helped inform two existing ETI projects. Firstly, the Consumers, Vehicles and Energy Integration project which sought to understand the required changes to market structures and energy supply systems in order to encourage wider adoption of plug-in vehicles and their integration into the energy system. It also informed the Integrated Heat project which developed a modelling tool to evaluate the opportunities and challenges for electric heating to meet future UK household requirements.

Publications (none)
Final Report (none)
Added to Database 01/06/20