[Insights Article FlexTreo™] "A year of hanging in the im/balance. What have we learnt so far?"
Insights Article written by Rob Labinski for The Energyst - 2018.02.23
As the grid transforms into a smarter, decentralised grid, traditional methods to procure power are also evolving. The “old grid” came with incentives for electricity consumers to coerce them into certain consumption patterns like consuming outside peak periods. Consumers were rewarded if they followed a grid-imposed consumption pattern, such as avoiding TRIAD and Duos charges. But the market is changing, and the new, smarter grid does not need to rely on coercion. Instead, real-time automated flexibility allows for more efficient & cheaper balancing solutions driven by real time grid requirements. Flexible resources can now be deployed to help manage grid stress and rewarded via other channels such as the day-ahead and intraday markets, imbalance market and Frequency Response and Capacity Markets.
Energy Managers also increasingly understand the potential of flexibility hidden within industrial processes but struggle to identify the optimum way to stack revenue opportunities to maximise value. FlexTreo™, for the first time ever, provides a 360° solution and a holistic, real-time overview of all energy market opportunities, which empowers consumers to take intelligent decisions ‘from their desk’. By maximising the capture of energy cost savings through real-time demand side management and day-ahead planning, FlexTreo™ truly bridges the gap between energy procurement and plant managers, using real-time energy market data to capture real-time opportunities.
No matter where you are in this transition FlexTreo™ will always allow you to harness the power of your flexibilty either via Triads/DUoS/peak-shaving in the old grid model, or capturing in day price spikes (imbalance events) and Day Ahead optimisation for consumers updating their strategy with wholesale exposure, managing exposure in a totally automated way.
Since launching 12 months ago, FlexTreo™ has operated seamlessly alongside participation in all grid reserve programs. For example, a large industrial manufacturing site, on top of the participation in reserve and capacity markets, has captured £114,000 of imbalance opportunities using FlexTreo™ during the past 3 months alone by ‘stacking’ revenue streams.
FlexTreo™ uses the latest technology developments such as deep learning and big data analytics. The more data it has, the more (artificially) intelligent it gets. In a Deep Blue vs Kasparov moment, FlexTreo™ beat one of the most advanced procurement teams in Europe, with cost savings of almost 20%, and all within the industrial boundaries meaning production wasn’t impacted.
So, what have we learnt? Energy is becoming more complex. It’s no longer about how many kWh do I need and which supplier has the best price. It’s about making real time decisions, quickly and automatically using thousands (millions?) of data points and inputs… So we need help. FlexTreo™ is the future but to take advantage now, please visit www.restore.energy/en/industries/flextreo
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