The government has backed the introduction of an interconnector-style cap & floor mechanism to kickstart the development of a new generation of pumped hydro plants and other long duration electricity storage (LDES) projects. A consultation issued by the Department for Energy Security and Net Zero estimated the deployment of up to 20GW of LDES could result in electricity system savings of up to £24 billion by enabling excess renewable generation to be saved for times of high demand.
Government backs cap & floor support for long duration storage
