The role of Utilities in today’s energy markets is changing!
I asked Tom Nysted, CEO of Agder Energi how the role of his Utility is changing in the flexibility market specifically.
Tom Nysted: “We have recently established a new company, a new marketplace NODES. It is a marketplace designed to put a value on flexibility, so that the interaction between centralised and distributed generation (and storage) can be traded. In addition, consumers will be able to offer their flexibility and supply back to the grid/market. In other words, it will be possible to quickly and easily trade and adjust both generation and consumption to balance the power grid.”
Agder Energi is a vertically integrated energy company, with operations in the whole value chain from production to distribution and sales of electricity. They are Norway’s third largest energy group in terms of hydroelectric production.
To the question how they are connecting local and central power markets to create an integrated market, Tom answers: “With this new NODES-marketplace flexibility will gain value and local power markets will become more integrated. Photovoltaic, wind-turbines and batteries are technology very often located in the distribution grid. The batteries has limited capacity, the wind can calm down and clouds can shade the sun. In those situations there is still a need for a controllable, flexible resource to meet this demand. In addition, individuals and businesses can also reduce load and bottlenecks in the grid. That will reduce demand, by allowing the operator to disconnect EV- charging, boilers and heated floors, New technology and a new marketplace will allow this to happen automatically and in real time.”
NODES Member of the Board, Hans-Arild Bredesen, summarizes: “We see the need to develop independent market operators providing transparent pricing, secure trading, and risk-free settlement for power trading at the local level. This is an approach we strongly believe will address some of the challenges we see with an increasingly decentralised power sector - where local power production and consumer flexibility need to work efficiently together in a neutral market.”
Agder’s marketplace is jointly developed with Energy trading exchange Nord Pool, whose Director Central and Western European Markets, Pietro Rabassi will be discussing the flexibility market and the Nodes project in more detail during the Energy Markets Hub Session ‘Monetizing flexibility’ on 7th of November. Click here to view the free-to-attend.
In the EUW Summit, Agder Energi’s Director Central and Western Europe, Harald von Heyden, will present on 6 November in the Energy Markets Summit Programme .