Good Energy to reward small-scale renewables and businesses for time-based matching
Clean power company Good Energy is enhancing its hourly matching service by offering credits to generators and business for electricity generated and used at the same time.
The new service is designed to strengthen the commercial case for renewables whilst incentivising businesses to flex their usage to times when clean power is being generated through peer-to-peer power provision.
Good Energy has always matched the output from its community of renewable generators, now over 2,500 strong, with the demand from its customers on a half hourly basis — achieving 90 per cent matching or more. Two years ago, it launched the UK’s first time-matched service for all of its business customers, providing them the data on their individual matching.
Now Hourly Matching Credit will provide a monetary incentive for time-matching for both business customers and generators. It means the more matched power the more credits earned. Business customers can save money by aligning consumption with eligible generation and generators can be rewarded by responding to increased demand – encouraging time-based matching for both import and export.
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.
Good Energy’s electricity supply model is already proven to provide additionality, evidenced by its recently launched Good Green Supply transparency standard. In addition to its electricity being 100 per cent power purchase agreement (PPA) backed and 90 per cent time-matched, 40 per cent of power supplied by the company came from renewable generators connecting to the grid for the first time.
As it launches Hourly Matching Credit, the company expects the scheme to increase this additionality by providing incentives for time-matching and greater returns for its small-scale generators.
Nigel Pocklington, Good Energy’s chief executive officer, said: “We have always prided ourselves on providing confidence to customers about the source of their renewable energy and a dependable route to market for renewable generators. Now we will be providing incentive to business customers to match and even more value back to small scale renewables.
“This new scheme will help to supercharge the growth of our commercial electricity supply business with our truly renewable PPA backed power, providing a system benefit in greening the grid and helping the country achieve clean power by 2030.”
Returns under the Hourly Matching Credit scheme will vary based on matching performance and there are no sign-up fees or other charges. For more information, visit the Good Energy website.
ENDS
Notes to editors
- Hourly Matching Credit is a half-hourly time-based matching scheme which Good Energy is offering with peer-to-peer energy technology firm Sitigrid.
- This scheme will run alongside an existing hourly matching service delivered through Granular Energy, which enables important customers to manually increase their generation matching across normally low-match periods. The information is used for carbon reporting.
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About Good Energy www.goodenergy.co.uk
Good Energy has been at the forefront of the renewable energy revolution since 1999, helping homes and businesses to generate, use and share renewable electricity.
From supplying customers with 100% renewable electricity from over 2,500 British generators, to serving over 180,000 people who generate their own clean power, Good Energy has built a reputation for supporting independent renewable generation.
Today, Good Energy also installs clean technology such as heat pumps, batteries, EV chargers and solar panels, including a nationwide commercial solar installation service. It also offers flexible tariffs for EV drivers and heat pump owners, as well as competitive export rates ensuring solar generators get paid fairly for the power they share. Good Energy is a Which? Eco Provider for Energy, is rated 5 stars by customers on TrustPilot, and is Britain’s only B Corp certified home energy supplier. Good Energy is part of the Esyasoft Group. Esyasoft is a Dubai-headquartered global business specialising in manufacturing state-of-the-art internet of things devices and providing a suite of software solutions designed to enhance energy distribution and management. It is ultimately owned by International Holding Company PJSC (ADX:IHC), an Abu Dhabi-based publicly listed holding company.