SMART technology which makes the electricity grid more efficient as renewable energy production increases will be “truly massive” for Scotland, according to its founders. The Faraday Grid, unveiled last night at the National Museum of Scotland in Edinburgh, could save UK consumers more than £1 billion per year and turn its developer into a multi-billion-pound business. The company was founded in Australia before its founders relocated to Edinburgh because they believed Scotland’s heritage in engineering and availability of PhD students was more advantageous to the development of the technology. Led by chief executive Andrew Scobie, the company aims to modernise the grid by replacing technology developed more than a century ago with a network of devices called Faraday Exchangers. These exchangers are able to handle greater variations in the power supply caused by renewable energy production, Faraday said this will improve the grid’s stability, balance supply and demand, and reduce the cost of energy. In August, Faraday Grid received investment from US-based AMP, a global developer of flexible clean energy. AMP, as principal strategic investor, will incorporate the Faraday Grid into its global portfolio of microgrid energy solutions and clean energy generation assets.
Herald 13th Dec 2017 read more »
Flexitricity is becoming a licensed electricity and gas supplier for industrial, commercial and public-sector energy users, small generator owners and battery developers. A major part of this package will be providing access to the Balancing Mechanism (BM).
Flextricity 12th Dec 2017 read more »
OK, I admit it. Nearly fourteen years ago, when Flexitricity was born in my spare bedroom, I didn’t think I was setting up an electricity and gas supply business. I’ve been resisting the idea for most of the company’s history. Let’s be clear: I always knew there was opportunity in going directly into the electricity markets. Once we had our smart grid platform and our control room up and running, we could bring industrial and commercial (I&C) consumers and small generators into balancing services like short-term operating reserve and frequency response. Taking that flexibility into on-the-day opportunities like the Balancing Mechanism was the obvious next step. I just thought we would do it in partnership with incumbent electricity suppliers.
Flextricity 12th Dec 2017 read more »
Demand response aggregator, Flexitricity has announced plans to become an energy supplier. As well as offering specialist gas and electricity contracts to “targeted customers” from mid-2018, Flexitricity plans to use its supply licence to gain access to the Balancing Mechanism (BM).
Utility Week 12th Dec 2017 read more »
The Energyst 12th Dec 2017 read more »
