Flexibility platform to offer ‘one stop shop’ for global electricity markets
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Flexibility marketplace provider Piclo will in 2024 launch a new market access platform to match sellers of surplus electricity with electricity system operators in the hopes of unlocking global electricity markets visibility and access.
The company, headquartered in London, says the new platform dubbed Piclo Max will maximise revenue stacking opportunities for flexibility sellers, while offering sellers and buyers a ‘one stop shop’ for all electricity markets globally, they state in a press release.
The platform’s rollout will start in the UK and aims to simplify and unlock broader electricity market access for flexibility service providers.
According to the company, the platform comes in response to widespread calls from flex sellers to tackle barriers to market entry and represents a significant step towards a fully flexible electricity system.
CEO of Piclo, James Johnson commented in a release that the app’s launch will be a crucial step in the mission to decarbonise grids, taking electricity and flexibility markets to the next stage:
“Flexibility is a tangible, viable tool for decarbonisation, today. It is a proven tool for efficiently balancing the grid and reducing the cost of future grid reinforcement, globally, delivering immediate value for our customers and wider society.”
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Matching buyers with global sellers
Flexibility buyers typically include system operators responsible for national system balancing and resolving transmission grid constraints, as well as distribution network operators, who are responsible for the last mile of electricity delivery and need access to flexibility to manage bottlenecks on the local grid.
Flexibility sellers typically own and operate ‘distributed’ energy resources – including renewables generation, batteries and EVs – that can respond to system operator requests and modify their electricity generation or consumption accordingly.
However, states Piclo, the complex and opaque nature of electricity markets means that sellers face certain barriers in optimising revenue for their assets, including dealing with multiple market platforms, each with different sets of systems and protocols.
This places a significant time and cost burden on sellers, limiting participation and competition across the industry.
Piclo Max will also benefit flex sellers with cost and time efficiencies as well as access to new and existing income via revenue stacking.
For example, from operational assets already registered on the Piclo Flex marketplace, Piclo states their platform Max could unlock over £750 million ($944 million) a year in revenue stacking opportunities.
Buyers, on the hand, including DSOs and TSOs, will gain access to a wider selection of vetted sellers and increased market liquidity, ensuring uninterrupted development of flexibility services.
