energy trading marketplace

UK Power Networks has partnered with software company Open Utility to develop and trial an online energy trading platform.The online energy trading marketplace Piclo will enable increases in consumer adoption of low-carbon energy generation resources in a cost-effective manner.

In addition, the new platform will help increase consumer flexibility by allowing customers to generate and sell excess energy into the main grid for reliability during peak demands. The flexibility marketplace trial is expected to launch as from March to run throughout 2018.

The platform forms part of efforts by UK Power Networks to transition from a distribution network operator to a distribution systems operator and support increased adoption of distributed renewable energy generation, electric vehicles and energy storage technologies.

The development of the new energy trading platform is co-funded by the UK government through the Energy Entrepreneurs Fund.

James Johnston, CEO of Open Utility, said: "We are incredibly excited to work with UK Power Networks. Following backing from BEIS, it is a hugely important milestone to sign up our first Distribution System Operator. We look forward to supporting the development of a smart grid in the UK."

Ian Cameron, Head of Innovation at UK Power Networks, added: "The way we generate, distribute and use energy is changing and UK Power Networks is in a great place to make the most of the opportunities this transformation offers for our customers.

"Distribution System Operators must collaborate with the technology sector to meet consumers' demands for 'connected living' and procure customer flexibility as a cost-effective alternative to network upgrades. Working with Open Utility to create this unique trading platform will make it quicker, easier and cheaper for our customers to supply their services to the market."

Energy trading marketplace development

The news follows the Dutch government in partnership with the city of Rotterdam announcing a plan to expand use of distributed energy resources to improve grid network reliability. The two parties have selected consulting firm Blocklab to manage an initiative in which an energy trading platform is being developed. Read more...