Introducing Hourly Matching Credit
The next evolution in hourly energy matching
Two years ago, we launched the UK’s first hourly matching product, becoming the first supplier to share hourly energy matching data with our larger business customers through our partnership with Granular Energy.
This proposition has redefined transparency, providing unrivalled insights to support organisations with visualising and reporting on exactly where their renewable power is coming from, hour by hour.
But the benefits should not be limited to improvements in transparency. We should be rewarding organisations further for consuming and generating energy at the times that support the efficient use of renewable energy.
So now, we’re launching Hourly Matching Credit.
What is Hourly Matching Credit?
This is an evolution in hourly matching, with businesses rewarded for using electricity at the same time as our community renewable generators are producing it.
This new development allows us to offer a credit to our business customers when their electricity usage aligns with the real-time generation from our renewable generators, whilst at the same time increasing payment back to the generator for their power.
For businesses, it’s a chance to cut costs while deepening sustainability credentials. For generators, it’s a way to earn more when their power is most valuable.
How does Hourly Matching Credit work?
For customers who sign up to this product, we will digitally match the electricity usage with the output of our renewable generators every half hour. If your usage or generation aligns, you earn a credit. It’s that simple.
The better the match, the more you could earn. There are no significant changes to existing contracts, just a chance to earn extra from your power.
The credits will then appear as a line item on your regular statement.
Why is this important?
At a time of increasing uncertainty in the energy sector, through the government’s Review of Electricity Market Arrangements (REMA) and potential introduction of zonal pricing in the UK, the introduction of Hourly Matching Credit supports further investment in small-scale renewables and drives behavioural change to increase the matching of electricity usage with renewable generation.
Yet, through REMA, and elsewhere, reform of the electricity market is still clearly needed. Alongside encouraging the rapid build out of renewable infrastructure, we should be incentivising consumption patterns to align with renewable generation to increase system efficiency.
Good Energy’s electricity supply model is already proven to provide additionality, as evidenced by our recently launched Good Green Supply transparency standard. In addition to our electricity being 100 per cent power purchase agreement (PPA) backed and 90 per cent time-matched, 40 per cent of power we supply comes from renewable generators connecting to the grid for the first time.
Hourly Matching Credit is designed to increase this additionality by providing an incentive for businesses to match their usage with clean power and increasing our support for renewable generation.
