• 2 hours Conflicting News Spurs Doubt On Aramco IPO
  • 3 hours Exxon Starts Production At New Refinery In Texas
  • 4 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 22 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 22 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 23 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 24 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 1 day Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 1 day VW Fails To Secure Critical Commodity For EVs
  • 1 day Enbridge Pipeline Expansion Finally Approved
  • 1 day Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 1 day OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
Iran Ready For OPEC Oil Deal Extension

Iran Ready For OPEC Oil Deal Extension

Iran is ready to take…

Are Oil Stocks Close To A Breakout?

Are Oil Stocks Close To A Breakout?

As oil markets continue to…

Energy Storage Operators Trade Electricity to take Advantage of Price Variations

By low, sell high; the basic advise for anyone trying to make any form of profit trading on the markets. It turns out that this advice is also taken by electricity grid operators.

Some electric storage technologies can run on timescales such as certain hours of the day, or certain days of the week, meaning that they will only store electricity from the grid at certain times. This allows the storage operators to buy electricity during off-peak times (such as night or at the weekend) when prices are low, and then sell the stored electricity during peak times (daytime and weekdays) when prices are much higher.

Pumped hydroelectric storage is one example of grid scale energy storage which can be used to take advantage of the difference between peak and off-peak prices. Overnight, a turbine uses low cost electricity to pump water uphill where it is stored in a reservoir.  Then during the day the water is allowed to flow downhill through a hydroelectric generator where it produces electricity to be sold to the grid for a much higher price. This is currently the most popular form of energy storage in the US, with 22 gigawatts of capacity currently installed.

Other technologies are available, but very few are capable of storing energy on the scale required by electricity grids, at competitive prices.

Giant batteries provide a dynamic field for research and development, and could prove to be very important for utility scale energy storage, however the costs are still too high for them to provide cover that role at the moment.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News