In the run up to the Greater Manchester Green Summit, we’re previewing what to expect on the day and hearing from our headline sponsors and official partners.
In this blog, headline sponsor Electricity North West explores the environmental and business benefits of flexibility services.
Click here to find out more about Green Summit 2024.
Today’s energy landscape presents a complex challenge for businesses: rising costs, sustainability targets, and the need to demonstrate environmental commitment. Flexibility services are an innovative solution that offer both financial benefits and environmental advantages.
So, what are Flexibility Services?
Flexibility services involve commercial agreements between businesses and network operators like Electricity North West. Businesses agree to adjust their energy consumption or generation during specific periods to help balance the electricity network. This might mean reducing energy use during periods of peak demand or increasing energy output when supply is low.
In return for this flexibility, businesses receive payments from the network operator. It’s a win-win: businesses gain a new revenue stream, and the energy network benefits from more stability.
Did you know you could also potentially reduce your electricity supply costs by avoiding peak usage hours? Consider discussing flexible energy plans with your supplier. They may offer options to stack benefits from your network operator like Electricity North West with your supply contract. This could lead to further savings, especially during periods of high energy demand.
The synergy between flexibility and energy efficiency
Flexibility services and energy efficiency are intertwined. By participating in flexibility schemes, businesses are often able to benefit even more through adopting energy efficiency measures, such as:
– Smart energy management systems: Real-time monitoring and control of energy consumption.
– Onsite renewable generation: Utilising solar panels or wind turbines to produce energy during peak demand.
– Process optimisation: Ensuring equipment and processes operate efficiently.
These strategies not only support flexibility but also reduce energy bills, enhance sustainability credentials, and contribute to broader environmental goals.
Unlocking a New Revenue Stream
One of the most attractive aspects of flexibility services is the opportunity to earn additional income. By shifting energy consumption patterns or temporarily reducing energy use, businesses can earn payments from Electricity North West.
For example, during peak demand periods, a manufacturer might be asked to temporarily reduce energy consumption. In return, they could receive payments, helping to offset operational costs.
Getting Started with Flexibility Services
If you’re considering flexibility services, you might wonder where to start. Fortunately, Electricity North West is actively engaging with businesses to guide them through the process.
Businesses of all sizes can participate, from large industrial facilities to smaller businesses with renewable energy installations.
Ready to take the next step? You can find out more by visiting Electricity North West’s Flexibility Hub or connect with a member of the team: get in touch
