EDF Energy has paved the way for its business customers to access additional revenue streams traditionally associated with generators and large suppliers, after signing a deal with Upside Energy.
Through the partnership, Upside Energy’s cloud-based platform will be used alongside EDF Energy’s PowerShift. Providing real-time data and advanced forecasting, the Upside Platform will work use real-time data and forecasting to offer demand-side flexibility and give customers access to markets in which to sell their excess energy.
Jean-Benoit Ritz, director of innovation at EDF Energy, said: “PowerShift gives our business customers better access to DSR schemes, allowing them to pool their own sources of energy generation and adjust their energy use in response to demand, providing them with new revenue streams, whilst at the same time supporting grid flexibility.”
Many large businesses currently shift their use of energy to avoid peak network charges, but without any visibility for predictive price fluctuations on wholesale markets. Using Upside Energy’s platform, companies can capitalise on energy trading opportunities as they arise.
Devrim Celal, chief executive of Upside Energy, commented: “By using our platform, EDF Energy will not only be able to optimise its position within wholesale markets, but assist its customers to ensure they receive the greatest return on investment – all while supporting the UK electricity grid to run more efficiently, integrate more renewables and cope with times of peak demand.”
According to Celal, the flexibility within wholesale markets represent a £6bn opportunity, compared to the £1bn annual ancillary services market. He believes that the wholesale market will be increasingly valuable to companies with flexible loads or storage.
Upside Energy’s platform benefitted from £300k of UK Government funding via Phase 4 of the Energy Entrepreneur Fund (EEF) in 2015. The platform has the capability to manage the demand response of 100,000s of devices or systems running in parallel.
Read our interview with Upside Energy’s founder, Graham Oakes: “A lot of people are looking at funding models, with a view to doing domestic demand response in 18-24 months”