8 Sept. 2022: Across the globe, businesses are facing high and volatile energy costs, but demand side response (DSR) could be one way businesses can keep their energy costs manageable. Here’s how United Cast Bar manages these risks while navigating the energy transition with GridBeyond’s DSR services.
This winter, some businesses could see their energy costs rise by 250% and it has been forecast that prices will remain significantly above average until 2030. Energy-intensive industries in particular are facing a host of overlapping challenges. To navigate the energy crises, it is crucial that companies have an energy strategy in place that tackles these challenges, protecting them from the energy-related risks that threaten their operations as well as supporting them towards their net zero goal.
GridBeyond’s DSR and energy trading services control companies’ assets in real time, protecting their operations from volatile prices, avoiding price peaks, and maximising cost efficiencies.
United Cast Bar Group (UCB), one of the world’s leaders in continuously cast iron bar, has been working with GridBeyond for several years embracing programmes like DSR.
“The collaboration with GridBeyond has been very important for UCB group. The demand side response and energy optimisation has helped us to manage energy consumption and generate savings which are absolutely crucial now that we are facing one of the worst winter’s we have ever seen.” Commented James Brand, Managing Director (Foundries) of United Cast Bar Group UK.
Mark Davis, Managing Director for UK and Ireland said “The use of DSR and AI platform generates savings and help businesses with energy storage assets to manage this current crisis, predict and react quickly to market volatility.
“In these times where the cost of energy is forecast to increase even more in 2023, many large energy consumers like manufacturers, cold storage industries, but also hospitals and large retailers’ companies could look at DSR to mitigate cost.
“The other advantage is that through DSR businesses can still have an impact on the net zero agenda, reduce their carbon emissions and work towards their net zero goals.”
About GridBeyond
The transition to a Net Zero economy is driving significant change in the energy sector. From the rise of renewables generation to the ever-increasing need for grid balancing services. The result is a significant requirement for scalable and real-time solutions to manage the energy system of tomorrow.
At GridBeyond our vision is to build a shared energy economy that delivers sustainability, resilience, affordability and adaptability through collaboration and innovation. By bridging the gap between distributed energy resources and electricity markets, our technology means every connected asset, whether its utility-scale renewables generation, battery storage or industrial load, can be utilised to help balance the grid. The benefit?
By intelligently dispatching flexibility into the right market, at the right time, asset owners and energy consumers unlock new revenues & savings, resilience, manage price volatility, while supporting the transition to a Net Zero future.
Using artificial intelligence and data science, GridBeyond’s technology balances and orchestrates energy generation, storage and industrial load in a coordinated system. GridBeyond’s intelligent energy optimiser, lies at the core of our services. By connecting load, generation, and storage assets with the opportunities of the energy markets our technology bridges the gap between distributed energy resources and the requirements of the power grid.
Combining solvers, market access, and automatic trading in one place, including balancing services, capacity markets and the participation in the wholesale traded markets, our technology empowers C&I businesses, EV fleet operators, generators, and energy storage operators to maximise revenues and savings.
GridBeyond was founded in 2010 and is home to the world’s first hybrid battery and demand network. Now a global player in the energy transition, GridBeyond provides a powerful combination of technological excellence, consultative approach and unrivalled expertise that enables its partners and clients have future-proof access to energy services, while supporting the wider electricity grid integrate more volatile renewables and make the leap to a greener future. All without impacting operations.
GridBeyond delivers energy services, new revenues, enhanced savings, strengthened operations and sustainability to over 500 I&C sites worldwide, including some of the planet’s best-loved brands.