Real time is money: maximise flexible power revenues in all markets

Louis Burford: Revenue from wholesale and balancing markets 'underexploited'
Louis Burford: Revenue from wholesale and balancing markets ‘underexploited’

REstore says its newest IoT-solution enables industrial and commercial consumers to achieve best bang for buck for their flexibility – opening up wholesale and balancing market revenues as well as National Grid’s demand-side response programmes.

Louis Burford, Vice President Sales & Sourcing REstore UK, says the FlexTreo SaaS-solution means energy managers and production plant managers can now access all available revenue sources for their flexible assets in real time – and execute according to preset industrial boundary conditions so that core business is never negatively impacted.

The software solution is the culmination of two years’ research, detecting the needs of energy managers and testing with some of the UK’s largest industrial and commercial consumers.

“We wanted to maximise revenue for their flexibility,” says Burford.

“The major financial opportunities that remain underexploited are price triggers in the wholesale and imbalance market. FlexTreo  monitors those markets in real time – so that energy consumers can maximise productivity, reduce costs and generate more revenue,” he continues. “It can also forecast imbalance events, giving users time to react accordingly.”

Both the wholesale and balancing markets are becoming increasingly volatile. That creates more value for I&C consumers with the ability to act upon market signals. FlexTreo can be fully automated to execute within industrial boundary conditions, says Burford, so that equipment is never compromised and action is only taken when the financial returns meet pre-defined thresholds.

“In short, FlexTreo  gives large energy consumers the ability to fully monetise their flexible power in other markets – whereas today it is just National Grid’s programmes,” says Burford. “It provides full visibility across the piste, allowing them to act upon price triggers in order to make better choices and better profits.”

FlexTreo  also provides energy managers with a breakdown and trend analysis of their energy bill per cost component.

“It’s a really smart, holistic energy management tool, co-created by industrial consumers for industrial consumers,” says Burford. “Anyone on a pass through contract with exposure to the energy markets will benefit.”

Available on a monthly subscription basis, REstore is now offering the platform to both existing and new UK customers.

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