UK energy supplier E.ON Next has announced it will partner with Amber, an Australian energy platform, to offer real-time access to dynamic energy prices.
The collaboration will allow E.ON Next customers to profit from their energy use. Amber’s model offers an alternative to traditional fixed-rate energy plans that sees consumers take advantage of lower electricity prices during off-peak periods or when generation and supply to the grid is higher than demand.
It has the potential to reduce energy bills, and allows users to sell surplus energy back to the grid when prices are high, effectively creating a revenue stream. As well as the monetary benefits, this also means consumers can play a more active role in a more sustainable energy system.
As more renewable energy sources enter the generation mix, the variable nature of wind and solar power means that consumers can use surplus electricity at certain times at a very low cost.
Chris Norbury, chief executive of E.ON UK, said: “This is another clear example of the playmaker role we have in making new energy work so that it is not only more affordable but also an asset for our customers and communities. By empowering consumers with real-time data and flexible pricing, we are helping to create a more sustainable and economically beneficial energy system for all.”
Co-founder and co-CEO of Amber, Dan Adams, said the partnership represents a “significant step” for the company, which is “passionate about transforming the way people interact with energy”.
The partnership will look to introduce further smart home integrations to allow customers to automate their energy usage.
Adams added: “This collaboration goes beyond providing consumers with the tools to unlock more value from their home battery and EVs—it’s about putting households at the centre of the energy transition.”
In a blog post published on Current± today, Siobahn Meikle, vice president for Northern Europe at Eaton, an Irish/American multinational power management company, discusses prioritising greater flexibility within the energy market.
Meikle points out that, as well as households’ ability to provide flexibility, commercial buildings have an important role to play: “By adopting flexible technologies, businesses not only contribute to the overall stability of the grid, but they also achieve operational efficiencies that translate into significant cost savings, all while lowering their carbon footprint.”
With demand side flexibility set to feature so heavily in the UK’s transition to net zero, the cost savings it offers might prove beneficial in light of increasing energy costs forecast for winter. Ofgem’s October-December energy price cap is set at £1,717, an increase of 10%, compared to the previous quarter, for a typical UK household.
