Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Great Britain definition

What does Great Britain mean? In legal drafting and statutory contexts, Great Britain describes England, Wales and Scotland (including their smaller offshore islands), and excludes Northern Ireland and the Crown Dependencies (the Isle of Man and the Channel Islands). It is principally a geographical expression rather than a term of art. Many UK statutes and regulations use “Great Britain” to set territorial extent or application, and individual enactments may state expressly whether adjacent waters or specified islands are included. There is no single universal statutory definition; scope is set by the instrument in question. Typical uses include: defining the territorial extent of legislation (for example,...

Great Britain energy storage: revenues, balancing services, arbitrage, Capacity Market de-rating, revenue stacking, co-located renewables and PPAs, and funding/regulatory updates (Energy Act 2023, LDES)

Published by a LexisNexis Energy expert

Practice notes

Income sources for a storage scheme hinge on the relevant electricity market, the technology deployed, the size of the project and whether it runs behind the meter to meet a specific Site’s needs or is connected to the grid. Storage can generally extract value through some or all of the following:

supplying grid services (frequency Response, Capacity Market income, demand-side response)
market price arbitrage
smoothing generation output and avoiding imbalance charges in a hybrid model where an underlying (typically intermittent) electricity generation plant is co-located with a storage unit

These income streams are explained in more detail below. All such revenue forms are described in further detail below. More detail is provided below. Investors usually want the flexibility to stack (i.e. combine) revenues, perhaps relying on different sources at different times of day or year, whilst debt financiers will look for a longer-term contracted base revenue stream to underpin repayment of debt and/or assess the management experience and creditworthiness of the corporate entity. In Great Britain (GB), despite support for greater flexibility in power networks, historic regulatory uncertainty had weighed on the business case for new storage assets. However, following enactment of the Energy Act 2023, which expressly provides for...

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Kathryn Emmett

Slaughter and May

Kathryn is a senior knowledge lawyer in Slaughter and May’s London energy, infrastructure and natural resources team. She advises on both financing, commercial contracts and regulatory aspects of projects, with particular experience in power and renewables, as well as emerging technologies such as low carbon hydrogen, and carbon capture and storage.Kathryn's experience includes advising lenders, sponsors and governments on domestic and international project financings, as well as leading due diligence in relation to project acquisitions and investment company listings. Kathryn also advises in relation to both the support schemes for, and regulation applicable to, the British energy market, as well as reforms affecting it.Kathryn has an MSC in Energy policy and worked in-house at a United Kingdom renewable energy generation company in a dual role as part of the legal and wind energy development teams....

Web page updated on 21/05/2026

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