UK Power Networks is making more than £13million available for 292MW of flexible power across 113 different sites in London, the East and Southeast of England.
The new procurement event includes locations with early start dates (up to just four weeks after arrangements are made), offering an immediate revenue opportunity for existing generators, energy storage and demand side response. The market is now open for registrations.
Sotiris Georgiopoulos, Head of Smart Grid Development at UK Power Networks, says the tender demonstrates how technology and data are coming together to help flexible assets earn additional revenues through flexibility services. These will help cut costs for customers and create new opportunities for renewable energy, heralding the way for the smart grid of the future.
As more people choose to use low carbon, electric technologies, the demand on the electricity network continues to rise and greater capacity will be needed on the network at peak times. ‘Flexibility’ arrangements manage the outputs from renewable energy generators such as batteries and wind turbines, and major energy users can sign up to reduce their demand at peak times to benefit financially – offering a lower-cost way to bring more energy into the system, rather than building new electrical infrastructure.
Sotiris comments: “We know that flexibility can provide a cost-effective and quick alternative to building new infrastructure to help manage the rise in low carbon technologies like electric vehicles and heat pumps. This latest tender underlines our commitment to the market. Establishing an independent DSO is demonstrating to potential providers of flexibility that UK Power Networks, as the market facilitator is credible and evaluates options with impartiality.”