Maximising revenue through intelligent battery optimisation
Eelpower chose Centrica Business Solutions as their route to market partner to provide guaranteed financial returns for their 10MW flexible asset, while eliminating the risk and complexity of a multi-market approach to optimisation.
Underpinning security of energy supply
Eelpower’s 10MW battery storage facility at Leverton, near Lincoln, was one of the first cohort of large batteries that provides frequency response and other balancing services to National Grid.
A stand-alone energy barn houses eight 1.25MW lithium-ion based batteries. Together, the facility supports National Grid by underpinning security of supply and helping to reduce energy costs for customers during periods of high demand.
Maximising revenue through asset optimisation
In 2020, Eelpower agreed a seven-year contract with Centrica Business Solutions for the optimisation of this battery plant.
Through a multi-market approach, Centrica Business Solutions looks for opportunities to support the balancing of the grid network, with the aim of maximising revenues through intelligent asset optimisation. Opportunities can be identified from months in advance, right up to real-time.
Harnessing our proprietary, market leading FlexPond™ platform, Centrica Business Solutions’ in-house experts monitor available markets 24/7 and carefully manage the battery’s state of charge. This enables the battery assets to be maximised across multiple flexibility markets, while simplifying the process and eliminating risk for Eelpower.
Centrica Business Solutions ensures that Eelpower’s flexibility is rewarded by a guaranteed revenue stream, whilst also safeguarding the battery by minimising degradation – so that the battery will maximise revenues throughout it’s lifetime.
Through the intelligent optimisation of this battery storage facility, Eelpower will receive a guaranteed financial return per MW per year, with additional payments for every battery cycle from day one of the contract and on top of the guarantee. This provides certainty over when their capital investment in the battery will be recovered.
By partnering with Centrica Business Solutions, Eelpower has eliminated the risk and complexity of managing their assets in varying markets, while maximising the value that can be delivered from their assets.
Battery storage is vital for hitting the UK’s net zero commitments, yet investor confidence remains low due to the relatively new technology application. By offering guaranteed returns and ensuring that the battery is active across numerous markets, Centrica Business Solutions can ensure the typical return on investment that investors require.