In the times where there is high penetration of renewable resources, keeping the stability of the grid and a shift from fossil powered synchronous generators requires another regulatory condition that is to adapt to the current market conditions. However, not all ambitious energy changes markets make that legal shift at the equivalent pace.
With time the grid operators are more and more aware of the need for adaptability services for adjusting to the soaring volume of renewable energy source, British power management firm ‘Eaton and utility Drax’ took an initiative of conducting a research on the extent to which nine European countries are to adjust to changing technology.
The Netherlands was ranked first one by the Association for Renewable Energy & Clean Technology for the strength of its regulatory environment, as well as, investor attraction. The second country was Finland which was followed by Sweden. Then came Denmark, followed by Norway and Ireland with Germany, Britain, and France raising the back.
The study was inclusive of contributions from industry associations, energy tech firms, utilities, publicly available data, as well as, academics in northern Europe, with the nations chosen as they are considered to be having similar energy change ambitions.
According to the report, The REA scored power showcase status for flexibility in the nine markets as per the advancement of ‘open-market access for adaptability services’, ‘support for the energy transition not only socially, but also politically’ and ‘ability to make use of novel technologies and business models’. Nations that performed well exhibited a reasonable, transparent and easily accessible which had addressed conflicts of interest, as well as, removed other barriers.
The verdict of the authors of the report is that regulators in Britain, Germany, and France have been unsuccessful at providing the necessary legislation for driving the high volume of renewables the 3 nations have claimed to be wanting, and have consequently clouded investor sentiment.