Be flexible with your flexibility – 3 new ways to make Demand Side Response work better for your business
With more businesses looking to become sustainable with their energy, the opportunities offered by Demand Side Response (DSR) products are changing. We look at how business electricity suppliers like Haven Power are taking this to a whole new level by extending the money-saving benefits of DSR.
Read more below:
The huge growth in battery storage on the grid over recent years could start limiting the benefits of Firm Frequency Response (FFR) and similar grid schemes, such as STOR (Short Term Operating Reserve). Even so, there are still plenty of new DSR-related market opportunities for forward-thinking businesses. At least, there are if they can be more flexible with their electricity consumption and they work with the right energy partners.
What’s more, to optimise the way you manage your energy, you can combine existing DSR schemes with these three opportunities:
1. Leverage the wholesale energy markets
Traditionally, having access to the financial benefits of the wholesale energy markets has only been an option for larger generators. However, Haven Power is now working with flexible generators on a day-ahead or within-day basis, to access wholesale markets through a pooled supply of electricity. As both a consumer and a generator, you can access this service and – potentially – increase the value of the power you sell.
2. Benefit from high System Sell Prices
Haven Power has identified a growing opportunity for businesses to profit from the volatility of the System Sell Price (SSP). For example, in March 2018 during the ‘Beast from the East’ cold spell, we worked with key customers to reduce demand on the grid. This helped keep vital power flowing to the nation, while also enabling those customers to better manage their own demand. In turn, this meant they achieved worthwhile profits by accurately predicting rises and falls in the half-hourly SSP.
As you can see, these approaches to demand side flexibility will require more active management than existing grid-based schemes. That means choosing a partner that you can rely on to understand the market, and your needs, is more important than ever.
3. Find a supplier that’s right for you
DSR can be complex, so finding a supplier that’s capable of delivering the right solution for you is essential. While different providers specialise in different areas (both in technology and the markets they access), you need to find one prepared to work in partnership with you.
That’s because DSR, by its very nature, is a bespoke solution that requires the support of a specialist provider. To put it another way, it can’t be simply delivered and commissioned ‘out of the box’.
Haven Power is an electricity supplier that’s happy to work with you – indeed, partnership is at the core of everything we do. We’ll take your initial ideas and, alongside you, create a solution that’s right for your business and supports your ongoing energy strategy.
To find out how Haven Power can help your business get more from Demand Side Response, please use our contact form to get in touch.Contact us
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