The clocks going back signalled the start of the Triad season. In this sponsored post, SmartestEnergy key account manager Mark Cox explains why both buyers and generators should take notice
Recent media coverage of the National Grid’s winter forecast for gas and electricity demand and supply – as well as the recent NISM – has highlighted the challenges faced in ensuring the lights stay on in the coldest and darkest months of the year.
To help manage spikes in demand, the Triad pricing system aims to encourage large energy users to reduce consumption, and in turn reduce demands on the grid.
This can significantly lower their energy bills, and the growth of demand side response services also offers some exciting opportunities for those businesses with the flexibility to shift their demand away from peak periods.
For embedded generators, payments are made under the system for any exported power during the three periods. So being aware of Triads and increasing generation if possible can be a lucrative source of additional revenue.
On top of the financial benefits for consumers and generators, there are potential reputational advantages for both from active involvement in helping balance the grid and ensuring energy supplies are maintained.
Although the timing of the Triad periods is not known until the March following the Triad season, there are some useful pointers from the past in trying to predict when they might occur.
For example, there have not been any Triad periods on a Saturday or Sunday since 2004/2005 with the only Friday Triad falling in December 2013. Mondays are the most common day for a Triad, followed by Thursday, with 17:30 by far the most regular time.
There are some real benefits to be had for consumers and generators that take notice of Triads. If you can see the value in Triad management for your business, contact us to make sure you are signed up for our Triad alert service and visit www.smartestenergy.com/triad to watch our Triad webinar.