SmartestEnergy has handed Origami Energy a technology contract to manage its clients’ energy assets and consumption.
Dubbed an ‘important strategic move’, Smartest said the contract would allow it to offer flexible energy management services in real-time, enabling customers to realise the value of their flexibility in both consumption and generation.
The inherent value of flexibility, rather than capacity, is one of the burgeoning topics in UK energy. The recent Capacity Market results and its collapsing clearing price were said by some commentators to be evidence of the market attaching more value to flexibility as the energy sector continues its transition.
SmartestEnergy is the offtaker for more than 3GW of generation capacity in the UK and supplies around 8TWh of power to its commercial customers each year.
Smartest said it conducted a “rigorous and highly competitive” selection process from which Origami emerged as the preferred partner and Robert Groves, chief executive at Smartest, said the partnership stood to create additional value from wholesale energy markets.
“As we transition to a smarter grid, successful companies will differentiate themselves by using their flexibility to reduce the cost of consuming electricity or to access additional revenue streams for generation assets,” he said.
Peter Bance, CEO at Origami Energy, said the deal was “major” and offered further validation of the opportunities created by its real-time energy market place.
“Using our powerful technology platform, SmartestEnergy will be enabled to deliver more profitable customer propositions and unlock value for owners and operators of dispatchable generation, battery storage and flexible loads,” Bance said.