SEITA offers 3-month consultancy projects to energy utilities in order to explore the value of dynamic pricing and flexibility of energy demand, supply and storage. We analyse, process and assess the utility’s data to report on flexibility values in their portfolio. For this report SEITA uses specialised analysis software by top research institutes CWI and DAI-Labor to explore the interrelations between risk, flexibility and predictability.
Our risk analysis tools assess the financial risk exposure of energy retailers to fluctuating demand, supply and prices on the electricity market. While consumers (currently still) enjoy flat rates per kWh, retailers need to procure based on predictions per quarter hour, and face highly volatile balancing cost if their predictions are wrong.
The FiRE (financial risk exposure) tool is specifically designed to show retailers an easy-to-read metric for the financial risk they are exposed to, and how much of this risk they will be able to mitigate using demand response. The tool allows SEITA to study a retailer’s losses; by analysing market data we can calculate the retailer’s expected shortfall in future scenarios. In particular, the tool shows the financial effects of various scales of demand response on the retailer’s risk exposure on the imbalance, intraday and day-ahead markets for electricity. It assesses how demand response improves marginal retail profit (actual profit) and—from a different perspective—reduces balancing losses (opportunity costs). Essentially, the FiRE tool computes the value of customer flexibility for a retailer.
The FiRE tool was developed together with Centrum Wiskunde & Informatica (CWI) in Amsterdam. A free sample assessment with FiRE is available here. This is a public demo of a research tool, showing results for stylised trading and flexibility data. In addition, we offer:
- analytics on custom data (trade portfolios and customer flexibility)
- analytics with custom indicators
- additional reporting and documentation of analysis results
If you are interested in finding out your value at risk as a retailer, or how demand response can reduce this risk, please contact us below.
Our flexibility analysis tools assess how the reliability of demand response improves with scale and adaptive clustering.
The FleetFlex (fleet flexibility and predictability) tool is designed to assess the demand response characteristics of a fleet of flexible energy resources such as charging stations for electric vehicles (EVs). Evaluated characteristics include the size and certainty of the available flexibility to increase or decrease demand. The tool uses state-of-the-art load forecasting methods and historical data describing the consumption behaviour of a resource fleet. Default data is available describing EV charging events over the course of a year (incl. plug-in and plug-out times, and total consumption per charging event), and custom data can be uploaded for other use cases. Essentially, the FleetFlex tool allows SEITA to evaluate the flexibility of a specific fleet of resources on behalf of retailers and aggregators, and, using the FiRE tool, to evaluate the value of the fleet for a specific retailer. Thereby, it addresses the value of aggregation.
The FleetFlex tool was developed by the Distributed Artificial Intelligence Laboratory (DAI-Labor) in Berlin. If you are interested in finding out the value in aggregating flexible resources like electric vehicles, please contact us.