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Factories, quarries, hospitals and hotels are just some of the big energy users who could be set to benefit from the launch of a new energy company into the Northern Ireland market today.
PowerHouse Generation say they will give local businesses the opportunity to earn significant financial rewards by having the ability to reduce their demand on the electricity grid.
The demand reduction scheme was introduced by the transmission system operator and payments are administered through the SEM (Single Electricity Market).
The company, which has been operating as a Demand Side Unit (DSU) in the Republic of Ireland since 2011, will take approximately forty Northern Irish customers into the SEM this week.
Local businesses currently pay the second highest electricity rates in Europe.
PowerHouse Generation, with support from the CBI and Manufacturing NI, has successfully lobbied the NI Utility Regulator to introduce this DSU scheme to the Northern Ireland market to give businesses the chance to earn back substantial payments from the SEM.
Powerhouse is licenced through the Utility Regulator to act as a DSU aggregator and through the SEM rewards commercial electricity consumers for their capability and availability to reduce demand if called upon to do so.
Demand reduction can be enacted by switching something off, delaying a process, switching on a generator or a combination of all of these.
Sam Thompson, managing director of PowerHouse Generation, said: “We look forward to working with additional businesses across Northern Ireland to introduce them to this DSU scheme which we know will provide a welcome source of income with little or no impact to their day to day operations.
"With forty customers already signed up, we know that this flexibility of demand exists.
He added: “We have one customer who will earn over €140,000 in capacity payments in the next twelve months due to their ability to reduce part of their electricity demand for up to two hours if ever required to do so.
"We are confident that more businesses will realise the positive financial implications that this DSU scheme could have for them.”