Industry to give evidence on long-duration energy storage business models

The Committee will hear from experts on the energy system as a whole, including the Energy Transitions Commission, as well as actors and investors in the private sector, including HSBC, KPMG, and the Long Duration Energy Storage Council.  

The session will focus on the potential business models for long-duration energy storage projects, support needed to make these projects viable as investments and how to unlock private investment in long-duration energy storage. 

The Committee will hear from: 

10:15am 

• Ita Kettleborough, Director at Energy Transitions Commission 
• David Gray CBE, Former Chair of Electricity and Gas Markets, Ofgem 

11:15am 

• Simon Virley, Head of Energy and Natural Resources at KPMG 
• Tim Lord, UK Head of Climate Change at HSBC 
• Alex Campbell, Director of Policy and Partnerships at Long Duration Energy Storage Council (LDES Council) 

The public evidence session will take place from10:15am in Committee Room4, Palace of Westminster on Tuesday 17 October2023and can be viewed live on Parliament TV. 

Possible question areas include 

• The role long-duration energy storage would ultimately play in a fully-decarbonised grid and the role hydrogen would have in a Net Zero energy system  
• the regulatory issues for projects like long-duration energy storage to get established and connected to the grid 
• How policymakers can design a viable business models for long-duration energy storage projects 
• Policy changes which could be effective in supporting the deployment of long-duration energy storage technologies at scale