Vattenfall is set to provide supplier Good Energy with access to the long and short-term wholesale electricity market through its Energy Trader platform.
The trading platform will allow Good Energy to balance its extensive renewable energy portfolio, selling power back into the grid when there is an excess.
The agreement will also allow energy giant Vattenfall to expand its business in the UK. The company is “delighted” to sign the agreement, said Navi Sidhu, originator at Vattenfall.
“Our goal is to make fossil free living possible for our customers. Teaming up with Good Energy who were the first energy provider in the UK to be 100% green, is the perfect partnership to help enable a climate smarter future.
“Vattenfall is a key player in energy trading and our product acts as a ‘foot in the door’ enabling our customers to access all major European energy markets. This contract is a significant step in expanding our business activities in the UK.”
The agreement follows Good Energy’s CEO Juliet Davenport stepping down from the company earlier this year as it set its sights on growing as a digital business. Over its two decades, Good Energy has grown to supply over 200,000 customers with 100% renewable energy, which it sources directly from generators as opposed to through REGOs. It has also developed over 50MW of solar and wind assets during this time.
“This is an important deal which will give us better access to the market and supports a greener grid,” added Adam York, senior trading manager at Good Energy.
“Vattenfall’s sophisticated platform operates across Europe and makes it easier for renewable traders to make the most out of a sunny or blustery day. We’re eager to work with more like-minded companies which share our vision of a 100% renewable future.”