Energy trading software company, Power Ledger, has partnered with Australian electricity wholesaler, Powerclub, for the large scale roll out of Virtual Power Plants in South Australia.
The commercial deal will allow Powerclub Members to pool their net solar and battery storage to act as a Virtual Power Plant (VPP) and gain access to wholesale electricity prices for more control over what they pay for their energy consumption.
Power Ledger’s VPP technology will enable Powerclub households with batteries to pool their stored solar power to sell during periods of high energy demand and price spikes, which will help in paying back their investment in rooftop solar faster.
Power Ledger’s energy trading technology will give Australians greater control over when they use energy and how much they pay.
Power Ledger Co-founder and Chairman, Dr Jemma Green, said the Australian Energy Market Commission has already flagged the need for grids of the future to become energy trading platforms.
“The future of the energy industry will be decentralised and democratised, like what we’ve seen happen to the taxi industry with rideshare apps like Uber and Ola. You no longer need to be a massive electricity company to commoditise energy.”
Under the current system, energy consumers are subject to additional hidden costs and mark-ups by the electricity retailer to cover supply costs.
“Power Ledger’s energy trading platform empowers all customers connected to the electricity grid, giving them greater control and management over their energy,” Dr Green said.
Through this partnership, Powerclub Members who invest in solar and battery storage will now have real-time access to leverage the wholesale market to their benefit and get faster payback for their investment.
“If there’s one thing that Powerclub stands by, it’s transparency. We’ve partnered with Power Ledger as we see their technology as being critical in reducing price opacity in the energy market,” Powerclub’s CEO and Founder, Stuart McPherson said.
The two companies are already looking at longer term solutions to the current energy crisis to ensure Australians have access to cheaper and cleaner energy.