GridBeyond has been approved in the list of providers of new National Grid ESO Demand Flexibility Service (DFS). The service encourages consumers to cut their electricity use at peak times when energy supplies are low to help reduce the risk of blackouts and create opportunities for businesses to earn revenue to offset higher energy costs.
The DFS programme, which will be available until March 2023, will pay businesses to reduce electricity consumption over high-stress periods, such as the demand evening peak. Those businesses with processes that can be turned down or shut off for a limited time or those with back-up generation assets could be eligible to participate.
DFS has a guaranteed acceptance price of £3,000/MWh (£3/KWh) for flexibility, so capacity priced within that threshold will get all of those events. However, participants can set prices higher than the threshold if they wish to.
GridBeyond is working with its clients to provide market access to winter DFS. By using AI-powered price optimisation and forecasting technology GridBeyond’s services aim to provide the best return for business energy users.
GridBeyond’s forecasting solution, uses advanced trading strategies, real-time forecasting, and analytics-driven decision support to create a solution that optimises companies’ financial returns under DFS.
GridBeyond Managing Director UK and Ireland Mark Davis said:
“Ahead of a difficult winter for customers, the launch of this service is great news – not only will it deliver immediate benefits, but it will give a taste of the exciting potential that flexibility can provide as part of a net zero future. At GridBeyond we are delighted to be an approved provider of this service, which opens up flexibility services to a whole new set of consumers in the market.
“As well as providing a buffer this winter, flexibility has enormous potential to bring down overall system costs, which will in turn cut bills for customers.”