For the first time in the Australian market, businesses will be able to contribute to a VPP, reducing energy costs while at the same time supporting the grid.
The Corporate VPP, will better align the energy requirements of Flow Power’s business customers to the National Energy Market (NEM), with automated demand-side response and battery management. As part of the initiative, Flow Power will install storage assets at participating business sites across the NEM, alongside its kWatch Intelligent Controller, which will support the management of each site to maximise customer benefit, while also bolstering grid reliability.
A landmark initiative, the Corporate VPP has already secured the support of some of Australia’s leading commercial and industrial businesses, across the manufacturing, agriculture and printing sectors. Participating businesses will support the grid, while benefitting from integrated battery storage across their sites, which will deliver reduced electricity and network costs, facilitate participation in demand response, provide backup power and optimise procurement of renewable generation through Power Purchase Agreements (PPAs).
The Corporate VPP builds on the success of Flow Power’s Corporate Renewable PPAs, which it first introduced to the Australian market in 2017, increasing business uptake of wholesale and renewable power procurement strategies.
Matthew van der Linden, Managing Director of Flow Power comments: “The VPP supports our vision to deliver low-cost wind and solar generation to businesses in every state. The cost of large-scale wind and solar is dropping and this VPP is the final piece in the puzzle, which will enable all energy users to benefit from the investment that is transforming the energy market.”
He continues: “Customers across the NEM have already expressed interest in participating in our VPP. We will be sizing the VPP in line with our large scale renewable offtake agreements, currently totalling more than 220MW– a number that is set to grow as we reach the end of the year.”
Flow Power expects that the Corporate VPP will be fully functional by the summer of 2019, in time for participating businesses to ease grid pressure that higher summer temperatures can bring.
The retailer is actively looking to partner with industry and government stakeholders, and will announce these in the new year.