The current dearth in energy demand and high renewable generation has brought the need for flexible consumption sharply into focus. Last weekend, Octopus Energy paid thousands of smart meter customers to use energy. Industry is now seriously looking at how households will be supported in their participation in demand side services, traditionally the domain of large commercial customers. This ‘Chart of the week’ looks at the potential benefits and flexibility models available to customers.
To keep reading, please log in to your account
Related thinking
Home supply and services
Domestic Suppliers Smart Meter Targets Updated For 2023
As part of its Mid-Year Review, the government is consulting on the Smart Meter Targets Framework for Year 3 (2024) and Year 4 (2025) of the revised smart meter rollout, setting out energy supplier annual smart meter installation targets on a trajectory to 100% coverage by the end of 2025....
Energy storage and flexibility
Navigating the Changing Landscape of Balancing Services Pricing Developments
From an energy market perspective, 2022 was an especially interesting year as geopolitical events pushed Europe’s energy sector out of the status-quo and into uncertain and uncharted territory. While most of the attention remained focused on developments within the wholesale sphere, interesting developments arose within the balancing services space too....
Business supply and services
Supplier of Last Resort true-ups confirmed by Ofgem
Ofgem has published its decision documents confirming the Supplier of Last Resort (SoLR) true-up claims submitted by energy suppliers and the amounts it has agreed as part of their SoLR levy claim. In this week’s 'Chart of the week', we review the SoLR true-up claims.
Home supply and services
Market share shifts: Octopus Energy’s acquisition of Bulb accelerates growth
On Saturday 29 October BEIS confirmed it had approved the transfer of Bulb’s 1.5mn customers, as well as 650 employees, to Octopus Energy. In this week's 'Chart of the Week', we look back over time at the two suppliers and the growth Octopus Energy has seen through organic means and...
Business supply and services
REGOs still highly valued by business customers in 2021
Renewable energy continued to be a focal point in Cornwall Insight’s 2021 Third Party Intermediary (TPI) satisfaction survey. The annual survey addressed the importance of a supplier’s green credentials for the second year in a row, finding that there is shifting interest in green energy from non-domestic customers and that...
Home supply and services
The default tariff cap: More questions than answers?
Throughout the recent period of wholesale and supply market volatility, the government and Ofgem have remained committed to the default tariff cap and continued to highlight its benefits to customers in protecting them from rising energy prices this winter. However, Cornwall Insight’s forecast of the default tariff cap for Summer...
Business supply and services
Balancing costs exceed £200mn for three consecutive months
High underlying commodity and carbon costs haven’t only impacted costs in the wholesale market. From April 2021 to the end of October 2021, balancing costs on the electricity transmission system have totalled £1.29bn. This represents a £301.88mn (30.6%) increase in costs over the same period in 2020, where total costs...
Energy storage and flexibility
Minimum demand projections in Victoria
The surplus rooftop solar provides an enormous opportunity for additional flexible load, where this can be optimised during the day. Electric Vehicles acting at a distributed level (exactly where the surplus is arising) provide the perfect solution if utilised in conjunction with smart metering to assist in mitigating these issues....
