It appears there’s one thing we can count on in the energy markets at the moment, and that is change. From the recent Targeted Charge Review (TCR) decision from Ofgem to remove Triads in 2021, through to the revoking and reinstating of the capacity market, not to mention the value of programmes like dynamic frequency response over the years. So how do you ride the waves of the changing energy markets?
GridBeyond’s Chief Executive, Michael Phelan, explains:
“Value can be found in every corner of the energy landscape. It’s simply a question of having the right tools to find that value and combine compatible programmes for the best returns.”
“Having expertise in industrial settings, as well as in-depth knowledge of the energy markets, enables GridBeyond to take a holistic approach to this challenge. Managers and directors have businesses to run, and energy professionals have many other areas to focus on. They shouldn’t need to worry about the intricacies of energy programmes or regulatory and policy changes.”
He continues: “GridBeyond’s machine learning algorithms consider the operational constraints and flexibility of sites to automate participation in the energy markets for the best possible returns. The milli-second by milli-second decisions taken by the platform continually calculate the next-best actions available to each individual asset. This is based on the combination of available programmes and flexibility. Regardless of the grid scheme values, wholesale markets, peak costs or otherwise, our technology works on the core principle of taking the flexibility that’s available and making the best return from it. So it’s essentially the consistency of what the platform delivers that enables participants to ride the wave of change.”
Make better business decisions
Over the years, the changes to the energy landscape have acted as a barrier to many businesses entering the markets. However, energy services are no longer a “nice to have”. They’ve become a necessity in order to meet net-zero targets, and for industrial and commercial businesses to maintain a competitive edge and keep overheads to a minimum.
GridBeyond developed the GridBeyond Academy for this exact reason. The GridBeyond Academy is an educational library with resources ranging from whitepapers, guides and insight blogs, through to live and recorded webinars, podcasts, reports, briefings and statements on current energy market affairs.
Resource levels vary from introductory/beginner, through to intermediate and advanced, for every level of understanding. All of which are created with one goal: to break down some of the energy industry’s most complex topics by ensuring every level has the opportunity to learn about the latest events, trends and topics pertinent to the markets at any given time.
For resources and more information on the GridBeyond Academy, visit: gridbeyond.com/academy