Smart Grids Unit 8: Market Engagement on the Smart Grid
The smart grid marketplace is one with competition everywhere enabling all to engage with, and benefit from, the smart grid.
In this unit the essential concept of the time value of energy is explored so that traditional and flexibility markets can be better understood by potential market entrants.
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BSSEC, Building Services Sustainability & Environmental Consultancy, is in the business of helping commercial organisations become more energy efficient. BSSEC was founded by current Executive Chairman Paul Bennett in 2005. Paul started his career as an electricians apprentice and has worked up to become an Executive Chairman of international businesses. Paul is a Chartered Engineer and Chartered Director with 30 years’ experience in electrical and mechanical building engineering design, contracting, maintenance and operation. Paul’s specialisms include management, company direction, energy efficiency and renewable infrastructures. Paul acts as an ambassador to the Institute of Directors and is a member of the IET. In 2016 Paul was awarded the Institute of Directors' “New Chartered Director” title and is a fellow of the IoD.
• Understand the time value of energy and how the value of energy changes across the day and seasons.
• Appreciate the common energy markets in the UK.
• Appreciate and understand flexibility markets including Demand Side Response (DSR) programmes.
• Appreciate and understand grid services markets including frequency response, voltage, reactive power and inertia.