Background

The energy transition calls for more affordable and cleaner electricity, driving a shift in power generation from fossil-based sources to variable renewable energy (VRE) technologies. However, thermal generation assets remain essential to ensure grid stability and energy security. While future energy outlooks project a fairly constant thermal generation capacity, the utilisation factor of these assets is expected to decline significantly, potentially leading to revenue erosion. At the same time, fixed and maintenance costs are likely to rise, creating pressure on asset profitability and discouraging investments in new thermal projects.

To adapt, thermal plants must become more flexible, with designs that can accommodate frequent start/stop operations. Understanding the evolving economics, market mechanisms, and regulatory frameworks is critical for stakeholders across the turbomachinery value chain.

To support this transition, the ETN External Taskforce on the “Profitability of Thermal Assets” is launching an online webinar series consisting of six interactive sessions. These will take place from September 2025 to March 2026, providing participants with a structured introduction to the economics of thermal power assets and electricity markets.

Abstract of the webinar

ETN Global is inviting you to the fourth episode of its webinar series on the “Profitability of Thermal Assets”, which will take place on Wednesday, 21 January 2026 from 15:00 to 16:00 (CET).

During this webinar, we will delve into the dynamics of current power markets with Robert de Kler (CTO, HyAPC.com) and Ilya Bilibin (Executive VP, HyAPC.com).

Understanding how modern electricity markets function is becoming essential as thermal generation moves from baseload to flexible, opportunity-driven operation. The traditional merit-order model is no longer adequate in systems dominated by variable renewables. New dynamics such as reserve procurement, congestion, and co-optimised ancillary-service markets increasingly shape when thermal assets operate and how they earn revenue. Market outcomes are also influenced by instruments like CfDs, PPAs, capacity mechanisms, and carbon policies, creating operational behaviours not captured by marginal-cost logic alone.

This session provides a clear, structured introduction to these evolving mechanisms, equipping stakeholders across the turbomachinery value chain with the market understanding required to evaluate flexibility needs, operational strategies, and future investment decisions.

Registrations

Registrations are free, but mandatory to attend the webinar. To register, please visit the following page.