PowerCast by EDF

Energy prices have dominated headlines since the 2022 energy crisis. But while wholesale prices have eased at times, many businesses are still facing high and rising costs. In this episode of PowerCast, we explore what is really driving energy bills today. From rising network and policy costs to the impact of long-term infrastructure investment, the conversation goes beyond wholesale markets to unpack the structural changes shaping the UK energy system. Joined by EDF’s Director of Strategy and Policy, Josh Buckland, we discuss: Why non-energy costs are becoming a bigger part of the bill How falling demand and rising fixed costs are pushing prices higher The UK’s competitiveness challenge compared to other countries The impact of recent global events on price volatility Crucially, we also explore what this means for businesses and what action can be taken now. From managing risk through contract choices and forecasting, to engaging in policy discussions and considering longer-term shifts such as electrification and flexibility, businesses have more options than they might think. As the UK continues its transition to a low-carbon energy system, the balance between affordability, investment and competitiveness is becoming more complex. Understanding these changes is key to making informed commercial decisions. This episode provides a clear, expert-led view of what is happening now, what’s driving costs, and how businesses can respond.

This episode marks the transition from PowerCast into Talking Power, following the coming together of EDF’s Wholesale Market Services and Business Solutions teams into EDF Business and Wholesale. The aim is to bring expertise from across markets, supply, flexibility, assets and data into one team to better support customers. The discussion focuses on recent energy market volatility driven by escalating Middle East tensions and the risk to LNG flows via the Strait of Hormuz. This has led to a sharp rise in gas prices, with knock-on impacts to electricity prices, including near-daily swings of 10–25%. Key insights: Volatility is the defining feature Gas prices have roughly doubled in weeks, with extreme intra-day movements. Market reactions are being driven as much by sentiment and news as fundamentals. Customer behaviour is split Some customers are locking in prices for certainty. Others are delaying decisions, hoping prices fall. Large businesses are generally staying disciplined, sticking to hedging strategies. Hedging and contracts matter more than ever Customers already contracted are protected. Those exposed to market timing face higher risk and complexity. EDF’s role is execution and risk management Rapid pricing, trading expertise, and market insight help customers act in volatile conditions. High operational resilience during peak demand periods (April renewals + volatility). Flexibility and optionality are critical Range of products from fixed to flexible allows alignment with risk appetite. Structured products reduce the need to “time the market.” Beyond price: wider cost levers Non-energy costs (e.g. balancing, CfD) can move differently to wholesale prices. Data, metering, and consumption insights are key to managing total energy cost. Strategic shift in energy management Increasing focus on: On-site generation (solar) Batteries and flexibility Demand shifting to avoid peak costs These align with broader system trends where flexibility value rises with volatility Energy markets are no longer just about price. The winners are those with strategy, flexibility, and access to real-time expertise. 

In this episode of PowerCast, David from EDF Wholesale Market Services is joined by Ed Porter from Modo Energy to explore what 2026 could mean for battery storage assets. The conversation looks at why battery revenues may increase, how demand growth from EVs, heat pumps and data centres is reshaping market dynamics, and why volatility, negative pricing and weather variability are becoming defining features of modern power markets. Ed shares insights from Modo Energy’s data and research on how investors and asset owners are adapting, from evolving contract structures and cost of capital pressures to the growing importance of co-location and new market mechanisms. Together, the discussion offers a clear, forward-looking view of how storage, renewables and market design are likely to evolve as the energy system continues to change at pace.

How do you forecast what thousands of customers will consume or generate every half hour, then use that insight to price contracts, hedge risk and trade smarter? In this episode of PowerCast, David from EDF Wholesale Market Services sits down with volume forecasting experts Emily Short and Steve Pugh to reveal the hidden function that underpins accurate pricing and confident trading across power, gas and renewables. Emily explains how the team produces reliable forecasts multiple times a day, why data quality is everything, and the sheer scale involved: EDF supplies around 40 to 50 TWh of consumption, forecasts 4 to 5 years ahead, and looks as far as 20 years ahead for renewable offtake. Steve takes us into the renewables challenge: onboarding much larger wind and solar PPAs, building site-specific models for bespoke assets, increasing automation for round-the-clock support, and pushing accuracy further by interrogating the limits of weather forecasting and exploring blended providers. The conversation also covers tightening NESO requirements in the Balancing Mechanism and why that creates both pressure and opportunity for EDF as renewable portfolios grow. A practical, behind-the-scenes look at how forecasting helps EDF stay ahead of market volatility, support sales teams with sharper pricing, and manage risk as the system evolves.

This month we're joined by market analysts Curtis Higgins and Will Illesley to review how GB power markets performed in November, covering wholesale prices, the Balancing Mechanism and ancillary services. November was characterised by strong renewable generation and a generally stable system, which led to narrower market spreads and slightly lower battery revenues compared with October. A cold snap mid month increased demand and created short periods of price volatility, but prices eased later in the month as wind generation increased and reliance on gas reduced. The episode also highlights a notable milestone for wind, with Great Britain setting a new maximum wind generation record during November. The discussion includes a clear explainer on triads and why they matter for flexible assets, including how potential triad days influence optimisation strategies and spill over into frequency response and wholesale markets. The team also explores Balancing Mechanism trends, where volumes remained high but value softened, and how ongoing grid constraints, particularly in Scotland, continue to shape market outcomes.

In this episode of PowerCast, David from EDF’s Wholesale Market Services team is joined by Barney Gilmore, Flexibility Product Lead, and Ross Irvine, Senior Manager for PPA Origination and Structuring, to unpack the fast-growing world of co-located solar and battery projects. Using a recently signed solar plus battery deal as a case study, they explore how co-location works in practice: from sharing a single grid connection and choosing between AC and DC coupling, to combining CFD-backed PPAs with merchant battery optimisation and floor products. They also dig into the contractual challenges, capacity market obligations, and why having a single counterparty for PPA and optimisation can simplify delivery. The discussion finishes with a look at what comes next: larger transmission-connected batteries, potential wind and hydrogen co-location, and evolving CFD and negative price protections. This episode is for developers, investors and corporates who want to understand how to structure bankable co-located assets and get the most value from every megawatt.

October marked the start of the winter season and brought a sharp mix of named storms, cold snaps and shifting demand. In this episode, David is joined by EDF’s market analysts to break down how these weather fundamentals shaped wholesale power prices, balancing mechanism activity and ancillary service revenues. They explore record levels of BM utilisation for batteries, fewer negative price periods, and why rising evening peaks are creating stronger discharge opportunities as winter sets in. A clear, data-driven view of what moved the markets and what asset owners should watch over the next month.

Record-breaking solar generation defined Summer 2025, with GB output reaching 13.8 TWh but capture rates falling to around 85% of baseload prices. David and Dan Wilkinson discuss what this means for PPA valuation, shaping costs, and the balance between fixed and indexed contracts. They unpack why price cannibalisation is accelerating, how wind and solar trends compare, and how co-located batteries and behind-the-meter generation can protect value. The episode also previews EDF’s new monthly capture-price reporting, giving offtakers and developers faster insight into renewable market shifts.

PowerCast: September Power Market Recap - volatility, wind, BM shifts Monthly market update from EDF Wholesale Market Services. Rachel is joined by analysts Robbie Auld and Bhanu Duggal to unpack September’s UK power markets: stronger wind, deeper day-ahead dips, and what it meant for batteries. What we cover Prices and volatility: lower averages on strong wind, deeper negative periods, and wider wholesale spreads for batteries. BM activity: record daily battery offers, regional patterns, and interconnector outages shaping dispatch. Rule changes: how the ABSVD treatment shift and non-BMU access to Quick Reserve from 3 September change strategies. Ancillary services: knock-on effects across DR, DC, and DM as competition and pricing rebalance. Battery revenues: highlights from our Battery League tables and where value showed up. Winter outlook: NESO’s latest view on margins and what a windy winter could mean for spreads. Subscribe for monthly market briefs. Follow on LinkedIn: EDF Wholesale Market Services. More at: edfenergy.com/wholesale-market-services

The UK’s first Clean Flexibility Roadmap has been published by DESNZ, Ofgem and NESO; setting out a unified plan to build a clean, consumer-focused and flexible electricity system. In this episode of PowerCast, host Rachel Murphy is joined by EDF’s James Thornton and Ismahan Kellou to unpack what the roadmap really means for the energy market. We explore: • Why flexibility is critical to integrating more renewables• The roadmap’s headline targets – including an eightfold increase in capacity by 2050• How barriers like grid connection delays and revenue stacking inconsistencies can be addressed• The tangible benefits for households, businesses and investors. Listen in for a practical look at how this roadmap could reshape the UK energy system and the role EDF is playing in turning ambition into delivery.

Dive into the August edition of PowerCast from EDF Wholesale Market Services. Our market analysts unpack what shaped UK power markets last month; from storm-driven volatility and flat high-pressure periods, to how batteries earned revenues through the balancing mechanism and ancillary services. Hear insights on solar and wind capture rates, wind farm behaviour , and what this all means for battery storage, PPAs, and asset optimisation. We also look ahead to September and the coming winter, highlighting the risks and opportunities for flexible assets.

P462 explained. David from EDF Wholesale Market Services is joined by market specialists Selina Paxton and Joshua Raw to unpack Balancing and Settlement Code modification P462 (“Removal of subsidies from bid prices in the Balancing Mechanism”). We cover what P462 changes, why it matters, and how it could affect cash-out, wholesale prices, and revenues for batteries, BTM assets, and consumers. What you’ll learn: How subsidy-driven bid prices distort BM actions and cash-out, and what P462 seeks to fix Expected impacts on negative pricing, spreads, and prompt vs curve Implications for battery optimisation, ancillary services, and consumer costs Potential unintended consequences and alternatives under discussion Key dates: ESO cost–benefit analysis due October; Workgroup report to Ofgem targeted for Q2 next year; consultation likely December.

In this episode, David Edmonds, Head of Pricing & Valuations, is joined by EDF analysts Curtis Higgins and Bhanu Duggal to explore the UK energy market dynamics for July.  From changing generation patterns to shifting market dynamics, we explore the factors that shaped the month and what they could mean for the period ahead.

In this follow-up episode of the PowerCast podcast from EDF’s Wholesale Market Services team, host David is joined by Dan Wilkinson, EDF’s PPA Pricing and Valuation Lead, to explore the significant impact solar generation has had on Great Britain’s power prices during summer 2025.   The discussion dives into the concepts of solar cannibalisation, capture prices, and shaping costs, explaining how record levels of solar output have led to record low solar capture rates as low as 83% of the baseload price, compared with over 90% in previous years. This, combined with the continued influence of wind generation and growing European interconnection, has created new challenges for pricing and valuing intermittent renewables.   The conversation covers the drivers behind these trends, including unusually sunny weather, increased installed solar capacity, and imports of cheap solar power from continental Europe. The implications for both fixed-price and day-ahead PPAs are considered, highlighting the growing importance of understanding shaping risk and how it is reflected in offtake pricing.   Looking ahead, the episode explores how future capacity growth, particularly under the Clean Power 2030 targets could exacerbate these issues, but also how flexibility, demand growth, and on-site solar use may help mitigate them.   Whether you're an offtaker, generator, or simply interested in the changing shape of the GB power market, this episode offers a timely and in-depth analysis of one of the most pressing dynamics in renewables today.

In this episode of PowerCast, David from EDF’s Wholesale Market Services is joined by Rachel Murphy, Strategy Analyst, and Ed Bryan, Flexibility Product Design Lead, to explore the latest Future Energy Scenarios (FES) 2025 report from the National Energy System Operator (NESO). The team discusses the four energy transition pathways - Holistic Transition, Consumer Engagement, Hydrogen Evolution, and Falling Short with a focus on key themes like flexibility, electrification, and infrastructure development. They unpack the report’s implications for energy demand, especially the rise of EVs, heat pumps, and data centres, and how EDF is positioned to support delivery at scale across the energy value chain.  Listeners also learn about EDF’s PowerShift platform, its role in enabling demand-side flexibility, and the potential for Vehicle-to-Grid technology. The episode concludes with practical takeaways on how individuals and businesses can engage in the transition to net zero, from installing smart meters to investing in energy efficiency. If you're in the energy sector, from consumers to battery developers, this deep dive into FES 2025 offers strategic insights on the UK’s path to a decarbonised future.

In this episode of the PowerCast EDF Wholesale Market Services podcast, David Edmonds, Head of Pricing & Valuations is joined by EDF analysts Curtis Higgins and Bhanu Duggal delve into the UK energy market dynamics for June. A sharp rise in renewable generation, particularly wind and solar, led to increased volatility in wholesale prices, creating expanded market spreads and strong revenue opportunities for battery storage operators. The month also saw record levels of bid activity in the Balancing Mechanism (BM), largely driven by transmission constraints at the B6 boundary in Scotland. Longer-duration battery assets outperformed due to their ability to capitalise on both wholesale price fluctuations and ancillary services. As heat risks persist into July, the outlook remains positive for battery revenues, especially with potential for further price spikes.

In this special edition of PowerCast from EDF’s Wholesale Market Services team, we reflect on the recent escalation in the Iran–Israel conflict and its early impact on global energy markets. Recorded yesterday (23 June) and already the markets have moved again, a reminder of just how volatile and fast-moving the situation is. In this episode, David Edmonds is joined by Senior Curve Trader Stephen Carrington to discuss: Initial reactions in gas, oil, power, and carbon markets Why the Strait of Hormuz remains a key pressure point The increasing role of risk premium in market pricing How wider economic impacts are shaping demand forecasts 🎙️ This episode offers insight without speculation, an informed look aiming to give listeners context on what these developments might mean for the energy sector in the UK.

In this episode of PowerCast, David Edmonds, Head of Pricing Evaluations at EDF’s Wholesale Market Services, is joined by Nikki Goulding and Kim Collins, two of EDF’s leading experts in PPA management. Together, they unpack the detailed work that goes on behind the scenes to get ready as the offtaker for large-scale renewable Power Purchase Agreements (PPAs). From contract handover to technical coordination and internal mobilisation, they walk through the critical steps that help bring projects like offshore wind farms to life. Learn how EDF navigates delays, manages complex stakeholder relationships, and ensures seamless delivery in a fast-evolving energy landscape. Whether you're a developer, generator, or just curious about the machinery behind Britain’s biggest renewable offtaker, this is an episode not to miss.

In this episode of Powercast, David Edmonds is joined by EDF analysts Curtis Higgins and Robbie Auld to explore key developments in the UK energy markets during April. Together, they unpack how high solar generation, subdued wind output, and falling gas prices shaped wholesale prices, balancing mechanism activity, and battery revenue streams. The team discusses the impact of record-breaking solar PV, the nuanced role of interconnectors with Europe, and how evolving ancillary services like dynamic containment and regulation are affecting operational strategies. They also examine the introduction of the new Response Energy Volume (REV) rules and the implications for one-hour versus two-hour battery assets. Looking ahead, the episode considers potential market dynamics for May and June — from weather-driven demand shifts to National Grid ESO’s ambition for fossil-free operation windows. With expert insights and real-time data analysis, this is essential listening for anyone active in or observing the GB electricity markets.

In this episode of Powercast, host David Edmonds (Head of Pricing & Valuations, EDF Wholesale Market Services) sits down with Ed Bryan, Product-Design Lead for Flexibility, to demystify the brand-new role of the Virtual Trading Party (VTP) created by Balancing & Settlement Code modification P415.  Together they unpack: what a VTP is, how it differs from a Virtual Lead Party, and why P415 finally lets independent aggregators trade customers’ flexibility directly in the wholesale market; the nuts and bolts of baselining (P376), half-hourly settlement and why smart meters are essential; EDF’s journey to become the third VTP in Great Britain – including its first wholesale trade on 1 April 2025; the commercial and regulatory wrinkles: supplier compensation, mutualisation, non-energy charges and the real-world impact on EV charging and household demand; the road ahead – from distribution-level services and new reserve products to demand-led system balancing. Whether you’re a supplier, flexibility provider or simply energy-curious, this conversation reveals how VTPs could shift consumption out of the evening peak, unlock new revenue for consumers and help Britain’s grid keep pace with renewables. Tune in, get the jargon decoded and see where demand-side innovation is heading next.