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Posted 4 months ago | 3 minute read
GridBeyond brings new innovative energy solutions to the SPP
Smart energy company GridBeyond continues its expansion in North America to bring new innovative energy solutions to the SPP (Southwest Power Pool) RTO.
After an exciting start to the year with GridBeyond’s Series C investment announcement, and the launch of a new portfolio of products, the leading global energy optimizer company for renewable asset owners and demand response has announced it will make its debut in the SPP region.
The company, which is already operating in ERCOT MISO, PJM, and CAISO, will now offer its AI forecast and automated dispatch capabilities in the SPP energy market, which manages the electric grid and wholesale power market for the western/midwestern United States – from Montana/North Dakota to Texas to New Mexico and Iowa and every state in between.
In SPP, while coal and natural gas are currently the two major sources for electricity generation, wind and solar , which are growing contributors of renewable energy in the RTO, have become some of the biggest clean energy alternatives to fossil fuels.
Participation in the demand response program called ‘Operating Reserve’, allows SPP to prepare for head room needed when supply and demand, typically during extreme weather events, becomes a major concern. SPP pays organizations financial rewards to be available as a last bastion of resource, to help provide the grid operator with partial and voluntary flexible load resources to maintain reliable grid operation. In addition, participating customers can reduce their electricity costs, achieve carbon reduction goals and help make their communities more sustainable and reliable.
Using an asset-led approach, combined with in-depth knowledge of the intricacies of the market, GridBeyond’s solutions provide a powerful combination of high-end energy management technology and data analytics that transforms businesses’ energy strategies from passive risk and price management to active participation. This can deliver what has historically varied between $65k-$100K per MW per year in revenues and savings for their voluntary availability of their electricity loads.
“As renewable energy assets become more deeply integrated into our economy and energy markets rely more heavily on more flexible loads in order to reliably manage future demand growth, GridBeyond can optimize energy consumption/curtailment like we have in some of the most costly and constrained grid environments around the world. We are delighted to be able to enter the SPP market and make our AI automated dispatch and forecast services available.
This has already been a great year for GridBeyond. First with the investment announcement where we completed Series C and then with the expansion of our products portfolio. Innovation and forecast accuracy are at the center of every product that we deliver to the market, and our advanced technology ensures that we always deliver the highest monetary gains for our customers”,
commented Sean McEvoy, President of North America, GridBeyond
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