What are your energy services options?
Energy services are pushing the boundaries of electricity supply, with new opportunities created seemingly every day. They offer businesses opportunities to reduce spend, increase resilience and generate revenue – but with so many options out there, how can you work out which is the right choice for you? To help you, we’re sharing our top energy services picks with you here.
Battery storage enables your business to switch over to stored electricity when demand on the Grid peaks and prices rise. This can enable you to manage your energy use more effectively, make your business more resilient by reducing reliance upon the Grid, and help you benefit from Demand Side Response (DSR). If your business generates its own energy, batteries can even help you optimise your usage – so you buy and sell at times that suit you. Batteries now come in all sizes and are continually getting cheaper. According to a survey from Bloomberg New Energy Finance, the average price of a lithium-ion battery pack has fallen to £158 ($209)/kilowatt-hour, with prices likely to fall below £75($100)/kWh by 2025.
Demand Side Response (DSR)
DSR rewards businesses financially for switching their electricity use at certain times. For instance, this could be to support intermittent renewable energy sources like solar and wind, or to balance peak demand.
Essentially, with DSR, your business gets paid for moving electricity usage – or switching to batteries – for a given period. The range of payments depends on the notice period required to switch and the amount of demand taken off the grid. Many large businesses benefit from automated DSR systems that can change at a second’s notice; smaller businesses can take advantage by manual switching, without disrupting their core business. Carbon Trust & Imperial College in 2016 found that new sources of flexibility could reduce the cost of the UK energy system by billions of pounds cumulatively by 2030.
Portfolios can enable your business to boost its purchasing power by joining a consortium and negotiating together to buy your electricity.
By working as a group through a broker, you can purchase energy more flexibly. The main benefit of this approach, normally only available to bigger businesses, is that you can profit from fluctuations in price.
Since no two businesses are the same, it’s important to get consider your own situation and find a bespoke solution before you commit yourself to an energy solution.
Accelerator workshops bring together Haven Power’s experts and your own energy and procurement specialists. Working through a creative yet structured process at speed, the teams build an individual solution that will deliver benefits to your business. The workshop can even help you reach your Corporate Social Responsibility goals.
Every business wants to optimise its energy use and reduce its carbon footprint. The difficultly comes with achieving consensus on how to drive the change.
Energy optimisation is a service that can help your business become more efficient in its energy use. It can lower your costs at the same time as supporting your environmental goals and helping to involve your entire workforce.
Power purchase agreements (PPAs)
Power Purchase Agreements allow your business to lock in the price of your electricity, and avoid certain third party costs, so you can budget more effectively. Put simply, a PPA is an agreement between your business and a small generator to buy a certain amount of electricity over a period of time that suits you. If you generate your own electricity, you could also have a PPA to sell the power you generate to a given supplier.
Partnering with a renewable generator can help you reduce your carbon emissions and reach your renewable energy targets. And of course, if you’re a self-generator, a PPA can make a meaningful contribution to your bottom line.
To find out more about how your business could benefit from Haven Power’s energy services, please complete our contact form.Submit Contact Form