Energy providers are at the crossroads and need to decide if they will follow their customers into the future. Gridcognition can help energy providers offer their customers new energy supply options.
Customers are now choosing innovative new retail products (progressive purchasing, wholesale pass-through, fixed-price mobile phone-style plans, and more); bundling energy supply with other products and services; buying energy from microgrid and embedded network owners instead of from the public distribution networks; running tenders to procure renewable energy through power purchase agreements (PPAs); and investing in self-supply from behind-the-meter energy assets.
Customers also have new drivers to consider when they are choosing an energy provider. More and more customers are focused on sustainability, and some have adopted strict renewable energy targets. Others want to manage price risk or are seeking cost-effective ways to expand capacity for their facilities.
Behind-the-meter solutions are increasingly cost effective compared to energy supplied from public electricity or gas networks, and new entrants are offering these solutions to customers under a range of new business models, leading to a reduction in load available for the incumbents to serve.
But traditional energy providers have strong advantages in the market: access to customer data, a wholesale market position, and strong billing and customer service functions. By taking these advantages and innovating quickly to bring new retail products to market, energy providers can navigate the transition to the future distributed energy system.
Gridcognition can help energy providers offer their customers new energy supply options including participation within virtual power plants and demand response programs, microgrid and embedded network services, and distributed energy technology leases and power purchase agreements, all bundled within traditional electricity sale agreements.
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