Technologies

Platform for Trading The Flexibility of Electricity Consumption for Grid Balancing


Abstract/Technology Overview

The technology relates to a cloud-based demand response platform and hardware for trading flexible energy (loads and power generation) from business consumers and generators, aggregated as part of a virtual power plant. This allows consumers and generators to reduce costs and generate revenue from under-utilised assets, such as generators, batteries and etc.

The flexible energy is traded through local transmission system operators to keep electricity supply and demand balanced at all times, and reduce carbon footprint by replacing fossil fuel-based generators with renewable energy sources. 

The technology owner is seeking partners to collaborate through various modes including the offer of the technology and trading platform as Software as a Service (SaaS) and technology licensing.


Technology Features, Specifications and Advantages

  • One of the most automated and low operational cost trading platforms in the market.
  • System is developed for fully digital Northern-European electricity markets. 
  • Fully automated bidding, trading, dispatching, reporting, etc.
  • Can be used in countries where flexible energy is accepted as a tool for balancing the demand and supply in the electricity system.
  • Can also be used in the markets that are not yet making payments for the flexible energy as an alternative to power generation.
  • Effective technology for the aggregation of inertia-based flexible energy from large electricity consumers and SME consumers.


Potential Applications

  • Suitable for: utility companies, energy companies, automation companies, large electrical devices producers (refrigeration, cooling, ventilation, pumping, heating, etc), technology companies (e.g. Siemens, ABB, Schneider, etc).
  • Can serve as a virtual power plant trading layer for technology companies. Specially the ones that are manufacturing electrical devices that have flexibility in electricity consumption (pumping, cooling, heating, ventilation, etc). Devices can participate in the electricity grid balancing mechanisms through the platform and the manufacturer can have recurring revenue from its customers participation in the balancing system.
  • The technology owner can become a potential partner for energy retailers  to offer new services to their clients. It can be done without hiring extra personnel for energy trading or technical jobs. This generates additional revenue for the partner and improved services to partners’ clients.
  • Real estate companies, industrial companies and others that have on-site generation or inertia based flexible energy can participate in the balancing markets by avoiding aggregators if they use the described technology. The service provider will do the trading, reporting and everything else for them for a small fee.


Customer Benefit

  • Generate additional revenue, savings and other benefits at a lower cost than competing technologies in the market.

OVERVIEW
Contact Person

Tarvo Õng

Organisation

Enterprise Estonia

Technology Category
  • Power Management
  • Energy
  • Demand Response System
  • Smart Metering / Management System
  • Building Automation / Management
  • HVAC - Cooling System
  • Green ICT
Technology Readiness Level
  • TRL 9
Keywords

virtual power plant, demand response, automation, smart city, smart grid, flexibility, industrial processes

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