What does P415 mean for flexibility?

November saw the introduction of new arrangements that allow business to realise additional value from their sites’ electricity flexibility. For many years, the industry has been trying to unlock the potential of demand-side response (DSR). The latest step towards this came on 7 November with the implementation of P415, which is opening up wholesale markets to all types of flexibility, and allowing participation beyond a consumer’s licensed electricity supplier. Customers flexing when and how much power they consume has significant potential to reduce the infrastructure investment needed to move to a more sustainable energy system but it also brings revenue opportunities for businesses, allowing them to enter into the wholesale energy markets through a Virtual Lead Party (VLP) like GridBeyond. But to take full advantage of the revenue opportunities, asset data and the forecasting models will be key and the management of this increasing volume of information is complex. Join this webinar to hear from GridBeyond’s Head of Portfolio, Adam Kenneally, and Global Director of Sales Operations, Manik Lowe to explore: · how demand response works, particularly for commercial and industrial users · the challenges and opportunities of P415 modification · how big data and site-specific information, combined with AI and machine learning can identify which portions of your operations could be made flexible · how to unlock the hidden potential for flexibility by scheduling your participation around business-critical processes while delivering the best economic production schedule for your facility