Post: 5 Innovative ways to rescue lost revenue using your energy flexibility

5 Innovative ways to rescue lost revenue using your energy flexibility

It’s tough times all round at the moment. Covid-19 has changed the way we work, shop, socialise and do business. One of the most common issues we’re hearing from businesses is “How am I going to make up lost revenues when this is over?”

There are lots of inventive business strategies that can help you out, but our specialism is, of course, energy. So, here are our top 5 ways to rescue your revenues using your energy flexibility.

1. Balancing services
   We’re not just saying this because it’s part of our core product, we’re saying it because it really is the easiest way to gain instant revenues from National Grid’s incentivised programmes. By installing the right technology, you can stack revenues and automate your participation in frequency response for financial gains of up to £100k per MW.
2. Battery storage
   It sounds counter intuitive to “buy” energy storage when you’re looking to reclaim revenues, however, GridBeyond works with a number of partners that offer financing for behind the meter battery projects, which you can then repay using your new demand response and balancing services revenues. A battery can boost your ability to participate in the most lucrative balancing services, meaning greater returns and greater long-term earn capabilities once the battery is paid for in full, and creates additional opportunities for savings too. As the developers of the world’s first hybrid battery and demand network, GridBeyond are ideally placed to advise on the opportunities available to your business.
3. Energy trading
   Energy trading, when using automated technology, is simple. The platform reviews the market opportunities, puts it together with your energy flexibility and operational constraints, and instantly trades based on the best financial outcome.
4. Peak avoidance
   In the UK, this will prove more difficult in future (see our piece on the Targeted Charging Review). However, for now there’s an extension to Triad avoidance, and once this is gone there will still always be peaks and troughs in energy pricing, regardless of whether that is transmission network based or otherwise. By using GridBeyond’s Point platform, your business can seamlessly switch between savings and revenue opportunities to make the most of price optimisation in the energy markets at any given point.
5. Operational performance improvements
   Did you know businesses can save huge sums on ad-hoc maintenance by predicting when it will be required? And did you know energy monitoring is one of the easiest ways to identify the early patterns leading to required maintenance? By monitoring your energy performance and creating alarms when the consumption falls outside of normal operational parameters, maintenance can be scheduled to fit around your production or processes to ensure maximum uptime and minimal cost.