Flexibility marketplace provider Piclo is launching a new market access platform offering sellers and buyers of flexible electricity a one-stop-shop for all electricity markets globally.
Piclo Max will be rolled out in 2024, starting in the UK, to simplify and unlock broader electricity market access for flexibility service providers.
The platform matches sellers of surplus electricity (or flex sellers) to system operators (or flex buyers), enabling an increasingly thriving flexibility market.
Flex buyers or System Operators (SOs) in the UK include National Grid ESO and the six distribution network operators.
Flex sellers typically own and operate ‘distributed’ energy resources – including renewables generation, batteries and EVs – that are capable of responding to SO requests and modifying their electricity generation or consumption accordingly.
Piclo Max responds to widespread calls from flex sellers to tackle barriers to market entry and represents a significant step towards a fully flexible electricity system.
CEO of Piclo, James Johnson said: “The launch of Piclo Max will be a crucial step in our mission to decarbonise grids.
“We are incredibly excited to take electricity and flexibility markets to the next stage, building on our track record in the UK, Europe and the US.
“We’ve already seen strong commitments from industry leading flex sellers, who, like us, want to make real strides towards a more aligned UK electricity market.
“Flexibility is a tangible, viable tool for decarbonisation, today. It is a proven tool for efficiently balancing the grid and reducing the cost of future grid reinforcement, globally, delivering immediate
Piclo Max will benefit flex sellers with cost and time efficiencies as well as access to new and existing income via revenue stacking.
For example, from operational assets already registered on the Piclo Flex marketplace, Piclo Max could unlock over £750m a year in revenue stacking opportunities, stated Piclo.
At the same time, flex buyers, including SOs at both Transmission and Distribution level, will gain access to a wider selection of vetted flex sellers and increased market liquidity, ensuring uninterrupted development of flexibility services.
Piclo Max is aligned with the ambitions of policy makers and regulators, including those of British energy regulator Ofgem, which in its May 2023 strategy set out ambitious plans for a flexible UK electricity system.