Energy: Storage
The question
To ask the Secretary of State for Energy Security and Net Zero, what information his Department holds on the weighting that Ofgem gives (a) social value, (b) domestic economic impact and (c) onshore manufacturing when allocating the first round of the cap and floor contracts.
Answered by Michael Shanks
Ofgem has published a Multi-Criteria Assessment Framework to determine which Long Duration Electricity Storage projects will be awarded a cap and floor regime. This framework examines each project across an economic, strategic and financial assessment. Ofgem will assess the impact of each project on the Socio-Economic Welfare of consumers, producers and the LDES asset owners themselves, alongside wider impacts on the GB electricity system and wider social and economic impacts. Ofgem plans to take an in-the-round approach of not setting weightings in advance between these assessments.
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