The news is being dominated by climate change and the need to reduce emissions. The solution is a ‘Net Zero’ economy, and renewable electricity will be at its core.
At Energy One, we have been providing software for renewable energy for many years. What’s changed is the evolution and rapid expansion of energy suppliers. As electricity markets decarbonise, they are becoming more complex with a greater mix of intermittent resources balanced by storage resources like batteries. At the same time, the industry structure is changing, with many new entrants including both smaller local players and established international operators challenging the status quo.
Exploring the challenges of renewable energy generation
Renewable generation is by nature intermittent but operates in a grid environment that requires continuous balance of supply and demand. The penetration of renewable generation into the market has been highly significant as large traditional generators exit. This creates challenges for multiple aspects of the industry including grid operators, market operators and market participants.
At the same time new technologies have become part of the environment including new types of electrical plant like batteries and new information technologies such as auto-bidding.
Energy markets are becoming increasingly complex, volatile and more data intensive. Energy participants will require increasingly sophisticated software to operate effectively in international energy markets.
However, scheduling energy generation and storage assets into energy markets and networks cannot be done with software alone. Market and transmission operators require grid-connected generators to have a phone number with a person on the other end, should they need to intervene at short notice to modify plant characteristics; all to ensure the real-time security and stability of the grid.
For many newer participants entering the energy market, it is often uneconomical to staff 24/7 control rooms to schedule or dispatch energy and meet regulatory compliance obligations. At the same time, complexity and volatility in energy markets is increasing.
This means a larger number of renewable generators will require advanced software AND a service provider to operate effectively and efficiently in international energy markets.
This is where Energy One can help.
Offering a solution for renewable energy generation
Accessing wholesale markets is made a lot easier through a service provider. Using an easy-to-consume service takes away some of the headaches experienced by renewable generation companies, such as:
- Providing a broad supervisory overlay
- Hiring a trading team
- Managing a 24/7 control room
- Meeting regulatory and compliance hurdles
- Responding to market or grid requirements in real-time
At Energy One, we’ve seen first-hand the emerging demand for energy services. Our offices in France, Belgium and Australia already offer software and services to facilitate 24/7 market operations on behalf of our customers. This is done with an agreed set of operational and commercial parameters wherein the customer retains full, transparent oversight of the commercial and operational strategy for the asset.
There is also the potential for traditional utilities to outsource certain tasks to a service provider. While proprietary trading strategy will always remain an in-house function, established utilities may decide to outsource tasks such as generation dispatch, scheduling, nominations and settlements for some or all assets in their portfolio to a third-party service provider.
As such, to meet the needs of renewable energy generation and help customers transition to the new economy, Energy One has established global 24/7 energy solutions. This means we provide software with a service to meet the rapidly growing market need.
We offer specialised software for the management of renewable generation and batteries for the international markets in which our customers operate. Our software capabilities include including automatic and manual bidding, nomination, scheduling, dispatch, optimisation, algorithmic trading and market and counterparty settlements.
Furthermore, our software can be combined with our premium 24/7 service offering enabling the seamless and successful entry of renewable energy into international electricity markets.
Having an established team of sophisticated, technically adept personnel and a global presence makes Energy One a reliable partner for global entities looking to outsource operational activities for both power and gas and places us at the forefront of the transition to the renewable energy future.
Find out more
Keen to learn more about our global services, our support for renewable energy or how we can help your gas and power energy trading operations? Please get in touch.
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