Update From the Field - January 2020: Italy, the new European hotspot for energy storage?

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Overview of the 2020 market for utility-scale energy storage projects (6)

Projects announced or contracted this month (6)

Projects commissioned this month (8)

Tenders this month (9)

I. Introduction to the Italian electricity market (10)

The electricity markets in Italy (11)

II. The Italian capacity market has been launched, awarding long term contracts to energy storage systems (14)

Context and market size (14)

Results of the T-3 and T-4 auctions awarded in 2019 (15)

De-rating factors (Capacità Disponibile in Probabilità, CDP) and storage participation (16)

III. Terna to procure 230 MW of fast reserves (17)

III. The Italian framework for small flexibility providers (UVAM) (19)

Figure 1: Utility-scale energy storage projects announced/contracted and commissioned in 2019 and 2020 (ongoing) (6)

Figure 2. Portfolio of the Gresham House Energy Storage Fund (9)

Figure 3: Summary of the interesting revenue streams for storage in Italy (10)

Figure 4: Evolution of the Italian electricity mix from 2014 to 2018 (11)

Figure 5: Geographical division of the Italian electricity market (12)

Figure 6: Daily average spread on the six Italian day-ahead markets (MGP) (12)

Figure 7: Operational battery storage projects (14)

Figure 8: Awarded capacities in both Italian capacity market auctions by region (15)

Figure 9: Awarded new capacity in the two 2019 Italian capacity market auctions by technology (16)

Figure 10: Current and future load coverage by synchronous machines in Italy (17)

Figure 11: Dynamic response required for the new Italian fast reserve service (18)

Figure 12: Long term contracts awarded for frequency regulation in Europe (19)

Figure 13 : Comparison between UVAM and non-UVAM participants to the Italian dispatching market in January 2020 (20)

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