Post: GridBeyond 4CP management strategy increases uptime in ERCOT

GridBeyond’s 4CP management strategy increases uptime in ERCOT

Smart energy company GridBeyond successfully calls 4CP periods in ERCOT

GridBeyond’s model and machine learning has successfully forecast 4CP periods in ERCOT with fewer dispatches than the industry benchmark delivering great savings for Texas businesses during the summer months.

In the ERCOT market demand charges are managed through the Four Coincident Peak (4CP) program. Demand in Texas typically peaks during summer months due to heat waves and increased air conditioning use, which strains the electricity grid. GridBeyond’s platform is trained to recognize the behaviors of weather, congestion, demand patterns, supply expectations etc, providing accurate predictions on when businesses should reduce energy consumption to generate cost savings.

In 2023 GridBeyond’s platform successfully called all 4CP periods while only issuing 5 fewer warning, than the competitive benchmark. The company has maintained this forecast accuracy in 2024 having dispatched 8 fewer warnings to date (16-24 fewer hours) –  than the competitive benchmark accomplishing two things for its customers – avoided unnecessary disruptions increasing productivity while capturing the full value of the approximate 30% tariff relief from more accurate predictions and dispatch.

GridBeyond AI platform notifies businesses to reduce energy load during the time at which 4CP is forecast. It provides a day-ahead notice that a 4CP is expected, a morning of notice that reconfirms and then a final accuracy check,. If it is forecast that the peak has shifted a call to stand down is issued. This approach reduces the overall number of dispatch events allowing businesses to increase their uptime and production while still benefitting from the cost savings associated with successful 4CP management.  

Joe Hayden, VP of Revenues at GridBeyond commented:

“Our ERCOT 4CP Forecast Model has demonstrated unparalleled accuracy during the summer of 2024. Through this program businesses can deliver an effective energy strategy to generate cost savings and revenues. GridBeyond AI platform provides a suite of tools that can maximize businesses energy investments while supporting their net zero strategy.

Our demand charge management tools are also available in the PJM market, where in 2023 GridBeyond’s model has successfully predicted all five Coincident Peak (5CP) periods while only issuing seven warnings in total at only 2 hours per dispatch, greatly outperforming the competitive benchmark in that market”.