Distribution and transmission utilities face a myriad of issues such as congestion and voltage.
Up until now, the solution has been to build and expand the infrastructure so that the grid can manage the increasing changes that arise from more and more Distributed Energy Resources (DERs).
There is now a new way of approaching this. In this new paradigm, DERs owned by commercial and industrial players like supermarkets, called Flexipreneurs, help stabilise the grid. Flexipreneurs can be grouped together to offer flexibility services, such as congestion or voltage management, and are rewarded with greater income for their assets. Distribution and transmission utilities benefit as they are then able to defer investing in new infrastructure, with draw on the grid reducing.
MODE Flex is a forward facing smart trading platform that enables market, system and network operators to procure flexibilities services at competitive prices taking grid needs into account.
This platform is blockchain enabled - making it different to any existing marketplace. The blockchain is used to execute and verify flexibilities and energy services. It includes an artificial intelligence / machine learning bidding optimiser and cross-retailer trading engine, for tranche-based procurement. The platform utilises smart trading algorithms and in doing so, the solution provides trusted, automatic and seamless flexibility services markets.
DSOs can benefit from sophisticated forecasting & price matching.
MODE Flex allows power to be delivered across the whole spectrum of response ranges and categories. From following and ramping to voltage and congestion.
Powerledger sets up framework contracts with so-called ‘Flexipreneurs’ who will ultimately deliver these flexibilities. After that all contracts are smart contracts and handled automatically.
Would you like to know more about the Powerledger Platform and how it works? Contact your local Powerledger representative to book a demonstration.