Enersponse Launches Automated Price Avoidance Tool, Price Response
Energy Resource Management Leader’s Newest Product Enables Users to Set Customizable and Automated Triggers To Offset Energy Use When Wholesale Electricity Costs Rise
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Enersponse, a leading distributed energy resource (DER) management provider, unveiled its newest automated feature, Price Response, which continuously monitors real-time and day-ahead energy rates and empowers customers to save money by throttling consumption when wholesale electricity costs increase above a customizable threshold.
Businesses often choose to buy electricity on a real-time or day-ahead price index. This provides them access to the lowest cost for electricity throughout the year, on average, and protects them from paying the supplier premium fees associated with a fixed price contract. Unfortunately, it also creates room for exposure to potentially volatile rate spikes when the grid is strained, usually during extremely cold or hot weather conditions.
Price Response enables users to set a price cap within the 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 by allowing clients to change the way their fixed versus index plan is structured with their retail energy provider.
“Price Response was created to answer the clearly expressed need of our customer base,” said James Muraca, chief technology officer at Enersponse. “The product is uniquely customizable and can suit each client or site’s exact curtailment specifications – from the number of events per hour to how long the energy reduction lasts, and more. It even has the capability to indicate different levels of severity based on fluctuating price triggers.”
A key differentiator of Price Response is the ability for customers to control and choose curtailment settings that match the needs of a specific site. Other programs have strict requirements that lock in participation for hours at a time or give little to no notice ahead of the energy reduction event. Price Response is accessible via a user-friendly customer log-in platform and allows clients to tailor and manage energy response with ease according to their business’s overall operational needs.
“A tangible example of how Price Response can save customers a ton of money is by looking at the wholesale electricity price volatility caused by Winter Storm Uni in Texas last February,” continued Muraca. “Grid conditions were so strained from the harsh storm that businesses throughout the state were hit with unforeseen and very costly utility bills. With real-time monitoring and automated curtailment enabled through Price Response, customers have peace of mind knowing that even when an unexpected grid strain hits, they have a precautionary measure in place to protect them from excessive electricity charges.”
Available across markets with index exposure, Price Response is integrated seamlessly into Enersponse’s distributed resource energy management system and communicates with existing building controls to manage reduction 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 power providers across the country to aggregate their distributed energy resource (DER) and rebate programs and with energy-using clients across the U.S. to maximize financial incentives by automating load reduction responses. This process helps providers maintain a stable grid and saves customers money, earns them passive income through rebates from their energy providers and helps them meet corporate social responsibility objectives. Enersponse’s intelligent automation-powered distributed energy resource platform is connected to hundreds of power generators across North America, all dispatchable to customers’ existing control systems. The company’s advanced technology keeps track of what’s happening down to a micro-locational level—even for large enterprises with facilities distributed across multiple power grid providers—monitoring weather patterns, system outages and energy pricing fluctuations and synching this data with pre-set client preferences to intelligently adjust in real-time without the need for human intervention. This means less stress on internal resources and an automated one-stop-shop solution for consolidating all available energy conservation programs to maximize cost savings—ultimately paying customers and their controls companies to save energy. Enersponse received a Bronze Stevie Award in Energy Innovation of the Year in 2019, Company of the Year in Energy in the 2020 International Business Awards and most recently was awarded a Gold Stevie Award for Company of the Year in Energy in 2021. Learn more about Enersponse at www.enersponse.com or follow via social media at @Enerpsonse.