Ofgem has made a move aimed at making it easier for providers to access flexible energy markets. This comes with the introduction of the Flexibility Market Asset Registration or FMAR.

Government regulator Ofgem will set out to deliver a ‘Flexibility Market Asset Register’ for service providers to utilise. According to Ofgem’s official website, this will be the first step toward a ‘Flexibility Digital Infrastructure’ vision.

The introduction of the Flexibility Market Asset Registration will simplify the process for flexibility service providers. Currently, such providers need to sign up to individual markets one at a time.

Ofgem is seeking input and feedback from stakeholders in relation to a wide range of relevant sub-topics. This includes the pros/cons of various delivery body options for the digital infrastructure required, the scope of the proposed digital infrastructure and more.

Estimates suggest that flexible power could reduce projected system costs by £30 billion to £70 billion between 2020 and 2050. Ofgem has highlighted flexibility as key to achieving 100% clean electricity by 2030, one of the primary goals of the new Labour government.

In addition to the above plans, Ofgem has made Elexon, manager of the Balancing and Settlement Code for Great Britain, the market facilitator for local energy flexibility.

Elexon is primarily responsible for comparing the electricity volumes produced by generators and suppliers with claimed volumes.

Other tasks served by Elexon include data management and ensuring market regulations compliance. Ultimately, they help keep the Great British electricity market running smoothly.

Through their market facilitator role, Elexon will be tasked with coordinating and aligning markets.