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Posted 3 years ago | 2 minute read
Triads Announced: GridBeyond’s was correct in its forecasts
The Triad results are in, and we are proud to announce that for another year in a row, GridBeyond correctly forecasted all three triads.
Our AI-powered platform, Point, enabled us to analyse a high volume of data in real-time and develop reliable predictions. We have monitored weather changes, generation patterns, and the impact of Covid-19 on energy demand. The automated control system helped our clients to save thousands of pounds on their energy bills by decreasing their energy consumption during Triad peaks.
The dates 2020/2021:
- Monday, 07/12/2020; 17:00-17:30
- Thursday, 07/01/2021; 17:30-18:00
- Wednesday, 10/02/2021; 18:00-18:30
Key facts:
- All three demand peaks this year were higher than the highest peak last year.
- Cold weather and low winds were the key driving factor for the increase in demand during Triad periods at the beginning of January and February.
- It was only the third time in the past 20 years that a Triad period has fallen between 6pm-6:30pm
- GridBeyond issued warnings for 26.5 hours in total, whilst many other providers would typically suggest their clients lower the consumption for approx. 35-40 hours
Winter 2021/2022 will be the last season during which energy users with half-hourly meters on their sites will be able to avoid Triads by lowering their consumption at peak demand times. From April 2022, Triads will be replaced by a fixed-charge-per-day-per-site system.
‘The upcoming reform means that businesses which have participated in Triads so far should explore other areas of the energy market to generate savings and monetise their flexibility. Other services include robotic trading, an array of balancing services or asset optimisation,’ commented Mark Davis, Managing Director UK & Ireland.
Read more about Triads and the upcoming reform:
Important Update: Changes to Triads Postponed Until April 2022
The Targeted Charging Review – What Does it Mean for Triads?
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