Risk management in ancillary markets: tail risk, liquidity and regime shifts
Use this article as a guide to manage risk in ancillary markets, with special attention paid to volatility regimes and structural shifts.
Ancillary vs wholesale markets: understanding decoupling and convergence
This blog describes the most likely scenarios in which ancillary prices might diverge...
Liquidity and competition in ancillary markets: why small volume changes move prices sharply
This blog explores why ancillary markets are structurally thinner than wholesale...
Ancillary market reform and harmonisation: what it means for price discovery
This blog looks at how European harmonisation reforms are reshaping ancillary price...
Revenue stacking in ancillary markets: balancing capacity, activation and wholesale exposure
This blog takes a look at how ancillary revenue stacking works in practice, where the key risks sit, and how optimisation frameworks must evolve as
Reserve scarcity and price spikes: when ancillary markets become the real stress signal
This blog examines the mechanics behind reserve scarcity and explains why ancillary markets often act as leading indicators of grid stress.
Ancillary services markets explained: how price discovery really works
This blog shares insights into how price discovery for ancillary services truly works across reserve markets in the UK, DACH, and the Nordics. It also
Frequency response markets: why FCR prices move independently of wholesale power
For reserve traders, battery portfolio managers, and market analysts, grasping why FCR prices fluctuate independently is crucial for predicting returns and
Denmark and its neighbours: Flows, spreads and the impact of flow-based coupling
Denmark’s power prices do not move in isolation. Over the past year, shifts in flow-based market coupling, cross-border constraints and rising wind output
How battery storage expansion in Germany will affect power prices
Battery energy storage systems (BESS) are becoming increasingly important in the German power market. A look at the ‘Marktstammdatenregister’ of the Federal
Trading and risk management in volatile intraday power markets
In intraday trading, playing the long game does not work as it does in other trading types, such as day-ahead. Traders need to leave static strategies behind
Liquidity and order books during volatile intraday conditions
In energy trading, the price and the speed at which assets can be sold are critical factors in a market participant's success and profit. This element
Intraday spreads and volatility: peak, off-peak and regional effects
In an environment where most variables, such as the amount of renewable energy generated during a certain period, are unpredictable, the ability to identify
Solar generation and intraday volatility: ramps, clouds and price shocks
Renewable energy relies on harnessing the power of the weather, which can result in...
Wind-driven intraday volatility: patterns, risks and opportunities
Renewable energy is, by its nature, intermittent. It relies on the weather to generate...
Intraday volatility in power markets explained: the renewable effect
In the power market, pricing is often open to extreme changes in pricing. When this...
Renewable forecast errors: the primary driver of intraday price swings
Renewable energy is in itself an intermittent source of power, and this...
Trading and risk management during system stress events
System stress events are moments when power trading shifts from optimisation to risk...
Forecast uncertainty and system stress: why reliability becomes probabilistic
Forecasts form a core component of modern power markets. However, as systems rely more...