BEIS has announced the first projects to be successful under its FleX competition, which is calling for innovative and replicable flexibility exchange solutions.
On 26 February, it revealed that it had awarded grants – collectively totalling over £2mn – to the Piclo Exchange project and Project TraDER. The Piclo Exchange project, awarded £561,726.06 in funding, will show how an open, transparent and neutral flexibility marketplace can be a key role in decarbonising Britain’s economy. Participants will be able to trade in primary and secondary flexibility markets, at both a local and national level, with the project to be trialled in collaboration with UK Distribution Network Operators and National Grid ESO.
Project TraDER, meanwhile, has been awarded £1,604,264 in funding as it looks to develop, integrate and scale a flexibility exchange that optimises renewable energy integration into the UK’s changing energy markets. The exchange will be operated by a neutral market facilitator and enable price-driven collaborative trading of an energy resource on multiple markets in the same time period. It will have notification of commitments and trade self-dispatch to relevant parties.
The two-year project will first demonstrate a market on the Orkney islands before looking to combine other markets for collaborative trading. The project’s UK partners are the Energy Systems Catapult, Community Energy Scotland, EDF Energy Customers, CGI IT UK, and Elexon.