Zenobe teams up with Open Energi and Erova for automated energy optimisation and trading system
Zenobe Energy is to enter a new battery into the Balancing Mechanism (BM) as part of an optimisation deal with Open Energi and Erova Energy.
The companies are to launch what they are lauding as the UK’s first fully automated energy optimisation and trading system at Zenobe’s 10MW battery at the Hill Farm site.
The Dynamic Demand 2.0 Trader solution – developed by Open Energi and Erova – is to be used to further optimise the site, with the system algorithmically taking positions and rebalancing state of charge by making continuous calculations over different time horizons as market opportunities evolve.
It is also to provide Zenobe’s battery with access to BM revenues for the first time, with the battery also trading in the wholesale, ancillary service and capacity markets.
David Hill, commercial director at Open Energi, said: “We are really excited to build on our existing relationship with Zenobe to deploy our flagship grid-scale battery storage product, Dynamic Demand 2.0 Trader with Erova Energy for the first time.
“We believe that our proven track record in trading performance and managing complex warranties with our State of Charge management software will lend itself well to trading in the Balancing Mechanism, where optimisation strategies hinge on energy recovery ability.”
The BM was recently opened up to allow independent aggregators to access the mechanism as Virtual Lead Parties (VLPs). Then in August, Elexon announced it was considering further opening up the BM to allow individual asset meters to be used for settlement purposes, resulting in “more opportunities” for small asset owners.
A number of new assets have been introduced to the BM in recent months, including ones owned by Gresham House Energy Storage Fund, as well as companies such as Flexitricity and Habitat Energy entering the BM as VLPs.
Steven Meersman, co-founder at Zenobe Energy, said: “We are very happy to continue to build on the great work done to date with Open Energi and extend our joint reach into the Balancing Mechanism as well as wholesale traded markets by including Erova into the partnership.