SmartestEnergy selects Origami Energy for technology platform management
Origami Energy, the technology firm, has been selected by SmartestEnergy, the UK-based independent generation supplier, for its technology platform.
The platform aims to manage customers’ distributed energy assets and consumption, offering real-time and flexible energy management.
“Since 2001 SmartestEnergy has offered innovative services to local generators and large business consumers and we are excited to extend our business to provide a range of flexibility services to the market place,” commented Robert Groves, CEO of SmartestEnergy.
“With the increasing market volatility caused by the transition from hydrocarbon to renewable generation, there is real value for our customers who can consume or generate their electricity flexibly.”
“Origami Energy’s technology platform enables us to manage our customers’ flexibility in real-time, and by using our proven commercial expertise and experience we’ll create additional value from the wholesale energy markets.”
“As we transition to a smarter grid, successful companies will differentiate themselves by using their flexibility to reduce the cost of consuming electricity or to access additional revenue streams for generation assets.”
With the rapid growth of energy flexibility, businesses, consumers, and economies are expected to benefit.
A report released by the UK National Infrastructure Committee claims that the implementation of a smart energy system could save the UK £8bn (US$11bn) by 2030.
“We are delighted to be partnering with SmartestEnergy,” reported the CEO of Origami Energy, Peter Bance.
“This major deal further validates the new opportunities that our real-time energy market place solutions offer to electricity suppliers, traders and industrial and commercial companies.”
“Using our powerful technology platform, SmartestEnergy will be enabled to deliver more profitable customer propositions and unlock value for owners and operators of dispatchable generation, battery storage and flexible loads.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.