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Energy Company to offer financial rewards to business customers
Click Here to read the article via the Specify website.
Businesses that are big energy users could be set to benefit from the launch of a new energy company into the Northern Ireland market. PowerHouse Generation will give local businsses the oppoertunity 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 operatorand payments are administered through the SEM (Single Electricity Market).
The company has been operating as a Demand Side Unit (DSU) in the Republic of Ireland since 2011.
Local businesses currently pay the second highest electricity rates in Europe. PowerHouse Generation, with support from the CBI and Manfacturing 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.
DSU is one of the tools that can be used by the Transmission System operators to enable them to operate and maintain a secure electricity network. PowerHouse is licensed 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 swtiching 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 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."