What is MODE?
MODE, or Marketplace for Optimisation of Distributed Energy, is a marketplace, which enables Distributed Energy Resource (DER) owners and flexible loads to provide grid services to monetise their assets. MODE comprises:
For DSOs and TSOs to seamlessly identify their need for, buy and dispatch flexibilities services. MODE Flex enables owners of batteries, variable loads, solar assets and aggregators to sell flexibilities services to DSOs and TSOs.
For electricity retailers and aggregators to sell energy and ancillary services to wholesale markets by aggregating DERs as a part of a virtual power plant. Read more about MODE VPP here.
Both of these platform features combine as MODE, which connects buyers with sellers to deliver flexibilities and VPP services, providing a comprehensive way for DERs to monetise their assets.
MODE Flex Key Features:
- Sophisticated forecasting, price matching, scheduling, dispatch and real time optimisation
- Bilateral flexibilities market for DSOs and TSOs, incorporating visibility, predictability, control and settlement
- Forward facing market capabilities: e.g. week and day ahead, intraday
- Smart contracting functionality for auto bidding, optimisation and settlement