Electricity suppliers across the globe are offering businesses more carbon-free hourly tariffs than ever before, making it easier for them to move to 24/7 carbon-free electricity, a new study shows.
The number of hourly matching tariffs have grown four-fold over the last 12 months, according to analysis published by Granular Energy and Baringa today. Of the 75 energy suppliers that responded to a survey, a total of 52 reported that they already offer rates for hourly matched electricity to corporate customers, or plan to introduce one within the next six months.
Hourly matching is key to enabling ‘24/7 carbon-free electricity’, which means businesses target 100% carbon-free electricity, 24 hours per day, 7 days a week. It works by matching electricity demand with carbon-free generation, where and when consumption happens.
Sam Kimmins, Director of Energy at Climate Group, said, “With the majority of energy suppliers surveyed now offering or planning rates for hourly-matched carbon-free electricity, businesses can expect hourly matching to become easier and more accessible, while also providing them with more accurate information on their energy use. This report signals that 24/7 carbon-free electricity is becoming a core part of the global energy system.”
Toby Ferenczi, CEO & Co-founder, Granular Energy, said, “The survey findings show that energy companies around the world are stepping up to help their business customers comply with new carbon emission reporting standards and move towards 24/7 carbon-free energy. For businesses, this means that hourly-matching becomes as simple as opting in to an hourly-matching tariff. For companies it’s much easier if energy suppliers tell them what sort of electricity they use from hour-to-hour.”
Climate Group’s 24/7 Carbon-Free Coalition is bringing together innovative corporates which are taking steps towards powering their operations with hourly, carbon-free electricity. The initiative is backed by six Founding Partners, including Google, AstraZeneca, Iron Mountain Data Centers, Shree Cement, Vodafone (UK) and AirTrunk.
Business leaders proactively sourcing hourly carbon-free electricity will help to future-proof their organisation for new rules requiring granular data and boost their competitiveness through more stable energy pricing. Moving to 24/7 carbon-free electricity, with local sourcing and hourly matching, will help move decarbonisation everywhere – eliminating the need for ‘back up’ fossil fuels.
The Greenhouse Gas Protocol’s Scope 2 guidance is currently under consultation – with the proposed changes signalling the move to hourly matching. This could support the roll out of 24/7 carbon-free electricity and drive greater grid decarbonisation.
- The State of Hourly Matching – A Report by Granular Energy and Baringa. https://www.granular-energy.com/insights/state-of-hourly-matching-report-launch
