SmartestEnergy extends its business model with landmark Origami Energy deal
SmartestEnergy, the UK's leading purchaser of independent generation and a supplier of 100% certified renewable electricity, selects Origami Energy's Technology Platform to extend its utility business model.
Following a rigorous and highly competitive selection process, SmartestEnergy has chosen Origami Energy’s Technology Platform to manage its customers’ distributed energy assets and consumption. In an important strategic move, the collaboration with Origami Energy will allow SmartestEnergy to offer real-time, flexible energy management services to help its customers unlock the rapidly increasing value of the flexibility they have in their consumption and generation of electricity.
A smarter and more flexible energy system brings significant benefits for businesses, consumers and the wider economy. A recent study by the UK National Infrastructure Committee estimates a smart energy system enabled by new technology could save the UK £8bn per year by 2030.
Robert Groves, Chief Executive Officer at SmartestEnergy said, “Since 2001 SmartestEnergy has offered innovative services to local generators and large business consumers and we are excited to extend our business to provide a range of flexibility services to the market place. With the increasing market volatility caused by the transition from hydrocarbon to renewable generation, there is real value for our customers who can consume or generate their electricity flexibly. Origami Energy’s technology platform enables us to manage our customers’ flexibility in real-time, and by using our proven commercial expertise and experience we’ll create additional value from the wholesale energy markets.” Groves added, “As we transition to a smarter grid, successful companies will differentiate themselves by using their flexibility to reduce the cost of consuming electricity or to access additional revenue streams for generation assets.”
Peter Bance, Chief Executive Officer of Origami Energy, said: “We are delighted to be partnering with SmartestEnergy. This major deal further validates the new opportunities that our real-time energy market place solutions offer to electricity suppliers, traders and industrial and commercial companies. Using our powerful technology platform, SmartestEnergy will be enabled to deliver more profitable customer propositions and unlock value for owners and operators of dispatchable generation, battery storage and flexible loads.”
Energy flexibility is growing in importance globally as the electricity industry embraces the enormous structural changes caused by the paradigm shift towards decentralisation, decarbonisation, and digitisation. Origami Energy focuses its solutions on giving suppliers and traders the ability to increase margin and retain customers through harnessing flexibility and the value it creates.
Origami Energy has developed a highly secure, scalable and resilient platform that enables both providers and users of flexible energy contracts to create value through enhanced product and service offerings. The Technology Platform is capable of accurately monitoring and automatically dispatching large numbers and types of assets in real-time and capturing and analysing the associated data.
By adopting Origami Energy’s technology, suppliers and traders, such as SmartestEnergy, can build competitive advantage and offer a range of innovative services to create value well beyond the reach of conventional utility business models.