On-demand: Optimise for P415
What to expect in this on-demand recording
In this session, Adam Sroka and Cynthia Grainger share industry insights and actionable next steps for optimising for increased flexible assets.
Access the recording below.
Overview
Ofgem’s P415 regulation modification went live in November 2024. P415 will change the electricity trading landscape by allowing Virtual Lead Parties (VLPs) to participate directly in the wholesale electricity market, rather than solely through the Balancing Mechanism.
This shift in regulation demonstrates the growing role flexibility has in the GB energy market and creates further opportunities for behind-the-meter solutions. The P415 modification will increase competition, accelerate the number of assets coming online and increase the number of existing assets in participation. Asset data and the forecasting models will need to scale up drastically and the management of this increasing volume of information is complex. Those organisations that can capitalise on the change in regulation will overtake the competition.
In this session, we shared industry insights and actionable next steps for optimising for increased flexible assets:
- A strategic view of the flexible energy landscape.
- The challenges and opportunities of P415 modification.
- How to harness Azure machine learning to reduce internal resources and scale forecast modelling.
- Addressing the machine learning operations skills gap.
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