New £412k project to develop online flexible power trading hub

The UK Government has granted £412,000 for a new online marketplace for local electricity flexibility trading. The hub, to be developed by Open Utility, is expected to help distribution network […]

Register now!

By Priyanka Shrestha

The UK Government has granted £412,000 for a new online marketplace for local electricity flexibility trading.

The hub, to be developed by Open Utility, is expected to help distribution network operators (DNOs) play an active role in managing local smart grids as the growth of distributed renewable generation, storage and electric vehicles will have a big impact on the local power network.

It will enable DNOs to transition to distribution system operators (DSOs) and procure customer flexibility to reduce “congestion” at specific times and locations on the grid.

Open Utility believes the tendering process for procuring their flexibility will need to be fully automated to ensure they can operate efficiently at scale – its new trading system is expected to manage the complexities.

A number of DSOs are to take part in the trial later this year.

Earlier this year, UK Power Networks launched tenders for customer flexibility in 10 areas in London, East Anglia and the South East.