FLEXITRICITY and ev.energy have partnered with an intent to register the first domestic electric vehicle aggregated unit in the Balancing Mechanism (BM). Utilising ev.energy’s smart charging platform with over 10,000 electric vehicle assets, Flexitricity will be able to trade this domestic flexibility as a Virtual Lead Party (VLP).
Flexible charging of EVs creates an opportunity for customers to save or even earn money whilst also helping National Grid ESO balance the growing quantities of intermittent renewable energy needed to achieve net zero. It also enables energy suppliers to deliver renewable energy to their EV charge point customers.
Most electric vehicle owners come home from work, plug in their car, and start charging immediately – during the natural peak in energy consumption. This increases demand at peak times which is expensive, can be high carbon and puts pressure on local electricity networks. Smart charging turns this problem into an opportunity, by unlocking valuable flexibility to help balance the grid.
Using ev.energy’s smart charging app, electric vehicle owners set a ‘ready by time’ to ensure their car is always ready when they need it. During the time before their car needs to be fully charged, ev.energy’s smart charging platform and Flexitricity’s automated platform will work in unison to ensure that the optimal charging strategy is deployed. This delivers much needed flexibility to National Grid ESO and the lowest prices possible for the consumer. ev.energy’s smart charging platform automatically reacts to real-time electricity price signals, including within the Balancing Mechanism.
The Balancing Mechanism is one of the main tools National Grid ESO uses to balance supply and demand on the electricity system in real time. It’s a profitable market where providers can offer to increase or decrease their generation or demand to help balance the system. Now, as the country moves towards its 2050 net zero carbon targets, National Grid ESO and Elexon have made changes to encourage smaller, more agile energy assets to contribute. This presents a huge opportunity for a range of flexible energy consumers, including EV users.
Andy Lowe, Chief Commercial Officer at Flexitricity said: “Electrification of transport presents both a huge opportunity for suppliers and customer and a challenge for networks. The partnership with ev.energy allows us to take a leap forward in demonstrating how flexible EV charging of the future will look like.
“This partnership has the potential to revolutionise the way the EV market operates and most importantly it will make a significant impact on our 2050 net carbon zero targets.
“Flexitricity made history last year when we were first to utilise the Balancing Mechanism Wider Access arrangement to trade one of our customers’ battery assets. Now we’re looking to do the same with a network of EVs.”
William Goldsmith, ev.energy’s Head Commercial & Grid Services, said: “With a rapidly growing 60MW capacity of EV load currently on our platform, ev.energy is in an excellent position to help balance the GB energy system. By partnering with Flexitricity we are able to offer energy suppliers an advanced trading service that reduces their cost, benefits the grid, the environment, and delivers better value to their customers.”