Power marketing and energy markets with John Larkey (Senior Vice President of Power Marketing @ National Grid Renewables)

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Mar 13, 2025

In this engaging conversation, John Larkey, the Senior Vice President of Power Marketing at National Grid Renewables, shares his expertise in navigating the complexities of financing renewable energy projects. He discusses the shift from physical to financial trading and how corporate buyers are reshaping the power purchase landscape. The chat also delves into Virtual Power Purchase Agreements, the co-location of generation with large loads, and the urgent need for investments in transmission infrastructure, paving the way for a dynamic future in energy markets.

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INSIGHT

Renewables and Gas Markets

Power marketing for renewables requires understanding gas markets and economics.
The marginal fuel source, often gas, drives power prices, necessitating knowledge of supply stacks and market dynamics.

INSIGHT

Corporate Buyers' Impact

Corporate buyers' increased sophistication and focus on direct power purchases are changing the renewables market.
Factors like net-zero targets, electrification, data centers, and corporate sustainability goals are driving this shift.

ANECDOTE

Early Demand Response

In the 1990s, California refineries used curtailment contracts to save money on demand charges, demonstrating early demand response.
John Larkey's experience highlights how market signals and technology are changing industrial energy consumption behavior.

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Financing large-scale renewable energy projects is no small feat. Developers face complex challenges, from securing capital and managing market risk in volatile electricity markets and navigating shifting regulations. Corporate power buyers play a huge role in shaping the market, and with the surge in large load users and developments in colocation, the industry is facing a huge change.

In this episode of Transmission, Quentin sits down with John Larkey, Senior Vice President of Power Marketing at National Grid Renewables. They explore how large-scale renewable energy projects secure financing, navigate power markets, and manage risk. Over the conversation, you’ll hear about:

The evolution from physical to financial trading in power markets
Impact of corporate buyers on the power purchase market.
Virtual Power Purchase Agreements and their role in the market.
Co-location of generation with large loads and the challenges and opportunities in the US power grid.
Current state and future potential of flexibility in power markets

About our guest

National Grid Renewables, develop, construct, own, and operate competitive, high-performance renewable energy projects nationwide to maximize value for our customers, partners and community members. for more informayion on what they do - head to their website.

John Larkey is the Senior Vice President of Power Marketing at National Grid Renewables, where he leads the company’s commercial strategy for large-scale renewable energy projects. With over 15 years of experience in the energy sector, he specializes in structuring power purchase agreements (PPAs), managing market risk, and securing financing for renewable projects, helping to drive the transition to a low-carbon energy future.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.