Piclo, the global marketplace for flexibility services and market access, through its partnership with National Grid Electricity Distribution, has successfully delivered their first flexible electricity trades into the ongoing week-ahead market alongside flexibility, entered directly with National Grid. These trades will help to solve network constraints.
This milestone is a first in Piclo’s partnership with the Distribution System Operator (DSO) arm of NGED, established earlier this year. [It saw Piclo enable equiwatt to successfully trade their flexible energy into NGED’s market.]
It highlights how innovation and collaboration can help to unlock additional capacity of flexible electricity that otherwise wouldn’t have been available. In doing so, Piclo has enabled the flexible assets to cut costs, shore up grids and increase revenues for asset owners.
James Johnston, CEO Piclo, said:
“This is a major win for the industry. It showcases how we can work with grid companies to help them respond more quickly to changes in electricity demand and supply, reduce their costs, and improve grid stability. At the same time, we’re empowering flexible asset owners by reducing barriers to connect and trade their electricity in multiple markets to increase their revenue.”
Matt Watson, Head of Flexibility at National Grid Electricity Distribution, said:
“Times are changing for electricity distribution networks. The transition to a low carbon economy has brought about challenges, as well as significant opportunities. One opportunity we’re tapping into is using market-leading systems such as Piclo to dispatch flexibility through multiple routes at the same time, meaning that more flexible power is available. The partnership with Piclo will continue for our long-term trades, which are opening soon.”
Johnson Fernandes, Founder and CEO of equiwatt, said:
"This achievement reflects our commitment to empowering households and small businesses to play an active role in supporting the grid and enhancing energy resilience. By working alongside innovative partners like Piclo and National Grid, we are making it easier for consumers to access and participate in these emerging flexibility markets. We look forward to continuing this collaboration and widening the opportunities in clean energy solutions."
The strategic partnership between the two companies was established to provide Flexibility Service Providers a choice between registering for flexibility trading directly with NGED’s Market Gateway, or through the Piclo Max platform, which provides them with access to more flexibility markets.
Piclo Max addresses the barriers to entry that aggregators and asset owners face. It provides a single access point, simplifying and expediating access to multiple electricity markets. The partnership with National Grid Electricity Distribution demonstrates Piclo’s ambition to enable flex sellers to access all six local flexibility markets from Piclo Max, in addition to other UK electricity markets such as Capacity Market secondary trading; with expansion planned to other global markets.
[This notice was updated on 15th October, 2024]
Piclo’s mission is to decarbonise the grid. We develop software solutions that make our energy networks smarter, flexible and more sustainable. Piclo Max, our market access platform, enables flex sellers (such as EV and battery owners) to access all electricity markets from one place. Piclo Flex, our flexibility services marketplace, enables flex buyers (system operators) to source flexible electricity from flex sellers during times of high demand or low supply.
To date, Piclo has over 350,000 registered flexible assets representing 26+ GW of registered flex capacity, with flexibility contracts awarded totalling £75m and 3+ GW of flexible capacity procured.
Piclo currently operates in six global markets: in the UK, supporting all six Distribution System Operators (UK Power Networks, SP Energy Networks, Electricity North West, Northern Powergrid, Scottish and Southern Electricity Networks and National Grid Electricity Distribution); and the independent System Operator (NESO); in Ireland (ESB Networks), Italy (E-Distribuzione), Portugal (E-REDES)); in Australia (CitiPower, Powercor); and in the United States in New York State (National Grid) and Connecticut (United Illuminating). Aside from its leading position in the UK, Piclo has a growing presence in Europe, USA and the Asia-Pacific.
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