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Description
Project is needed to evaluate the size and different scopes possible technologies for the large scale project of developing a platform for trading flexible electricity loads. In electricity grid the demand and supply of electricity must be balanced in every second. It is a tough job in all countries globally. Getting harder with every new Renewable energy installment as they are very volatile.
Usually fossil fuel generators are used to make supply match the demand. FuseBox is building a demand response system that can lower electricity demand in the whole country in case of lack of supply. This kind of balancing is cheaper and totally CO2 free. Demand response system has a huge socio-economic effect (lowering transmission fee prices and electricity prices in the NPS market).
Large energy consumers who have the flexibility that can be used for balancing can lower their energy costs by offering their flexibility to the market. They also will have savings on energy spendings and they will be more aware of how their behavior affects the whole system.
Projects aim is to be a starting point and preparation for the development of trading platform for flexible energy (will apply for Norway Grants in late autumn). Trading platform allows aggregators to predict available loads in every coming 15 min. periods in next 24 hours, allows switching different clients loads in limited timeframes, price different loads, place the bids to the market etc. Shortly it allows to run demand response very precisely, smartly, securely, profitably, automatically, etc.
Summary of project results
Project activities completed. Project promoter participated in the II main call competition.