Enersponse launches automated price avoidance tool, Price ResponseTM
Newest product from the leader in energy resource management allows users to set customizable, automated triggers to compensate for energy consumption when wholesale electricity costs rise
NEWPORT BEACH, Calif., April 05, 2022–(BUSINESS WIRE)–Enersponsea leading Distributed Energy Resource Management (DER) vendor, has unveiled its brand new automated feature, Price responseMTwhich continuously monitors real-time, day-ahead energy rates, and saves customers money by throttling consumption when wholesale electricity costs exceed a customizable threshold.
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Price response (Photo: Business Wire)
Companies often choose to purchase electricity based on a real-time or daily price index. This gives them access to the lowest cost of electricity throughout the year, on average, and protects them from paying the premium supplier fees associated with a fixed price contract. Unfortunately, this also creates room for exposure to potentially volatile rate spikes when the network is under strain, usually in extremely cold or hot weather.
Price Response allows users to set a price cap within Enersponse’s DERMS platform that triggers building management and on-site SCADA systems to reduce consumption when the cost of electricity exceeds the pre-determined threshold. Price Response allows customers to save more on their utility bills by capping wholesale index exposure and allowing customers to change how their fixed-to-index plan is structured with their provider retail energy.
“Price Response was created in response to a clearly expressed customer need,” said James Muraca, Chief Technology Officer at Enersponse. “The product is uniquely customizable and can adapt to the exact reduction specifications of each customer or site – from the number of events per hour, to the duration of the energy reduction, and more. It even has the capacity to indicate different levels of severity based on price fluctuations.
A key differentiator of Price Response is the ability for customers to control and choose the discount settings that match the needs of a specific site. Other programs have strict requirements that block participation for hours at a time or give little or no notice before the energy reduction event. Price Response is accessible through a user-friendly customer login platform and allows customers to easily tailor and manage energy response based on their overall business operational needs.
“A concrete example of how Price Response can save customers a lot of money is examining the volatility in wholesale electricity prices caused by winter storm Uni in Texas last February,” Muraca continued. . “Network conditions were so strained by the severe storm that businesses across the state were hit with unscheduled and very expensive utility bills. With real-time monitoring and automated curtailment enabled by Price Response , customers have peace of mind knowing that even when an unexpected network strain hits, they have a precautionary measure in place to protect them from excessive electricity loads.”
Available in all markets with index exposure, Price Response seamlessly integrates with Enersponse’s distributed resource energy management system and communicates with existing building controls to manage curtailment events, with no additional hardware required.
To learn more, visit: www.enersponse.com.
About Enersponse: Enersponse is an energy resource management platform that works with electricity providers across the country to aggregate their distributed energy resource (DER) and rebate programs and with energy consuming customers across the United States to maximize financial incentives by automating load reduction responses. This process helps suppliers maintain a stable grid and saves customers money, earns them passive income through rebates from their energy suppliers, and helps them meet corporate social responsibility goals. . Enersponse’s intelligent, automation-powered distributed energy resource platform is connected to hundreds of electrical generators across North America, all dispatchable to customers’ existing control systems. The company’s advanced technology tracks what’s happening down to the micro-localized level, even for large enterprises with facilities spread across multiple power grid providers, monitors weather conditions, system outages and fluctuations energy prices and synchronizes this data with predefined customer preferences. to intelligently adapt in real time without human intervention. This means less stress on internal resources and a one-stop automated solution to consolidate all available energy saving programs to maximize cost savings, ultimately paying customers and their control companies to save energy. energy. Enersponse received a Bronze Stevie Award in the Energy Innovation of the Year category in 2019, Energy Business of the Year at the 2020 International Business Awards and most recently received a Gold Stevie Award for 2021 Energy Company of the Year. Learn more about Enersponse at www.enersponse.com or follow via social media at @Enerpsonse.
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Leslie Licano, Beyond Fifteen Communications, Inc.
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