London, September 2016 – KiWi Power Ltd, UK’s leading demand response (DSR) aggregator, today announced it has declared and will deliver 44% of the total Megawatts (MW) for the Capacity Market’s Transitional Arrangement (TA) as detailed in the 2 September 2016 Capacity Market Register1
. This will see new and existing clients generating new revenues of £3.8m from their sites from 1 October 2016.
KiWi Power secured the most capacity in the market in the Transitional Arrangement auction in January 2016 and have a higher percentage of MW in the recently published Capacity Market Register than any other participant - twice as many as the next provider and four times as many as the third.
This is particularly significant given the short timescales between the auction in January this year and the deadline for declaring sites live at the end of August 2016.
The various clients in this programme include several water utilities, multiple NHS Trusts and hospitals and commercial office buildings all of whom will begin earning new revenue streams for participation from October this year.
Yoav Zingher, KiWi Power’s CEO & Co-Founder said: “We are pleased to be making such a significant contribution to the Capacity Market’s DSR component. This will go some way to helping National Grid realise their ambition of 30-50% of grid balancing services coming from DSR.
At KiWi Power we are committed to giving our clients the best commercial opportunities to earn revenues from their existing energy assets. We bid into this auction anticipating it would present the best value within the Capacity Market and we were correct: £27.5k per MW will be earned from next month, versus the next available opportunity at the time which was £19.4k per MW to be earned from 2018. This means our clients are earning more for a full two years longer.
That we were able to get so many clients live in a narrow window of time within a brand new programme with its new rules, processes and parameters is testament to our team’s broad and exceptional market expertise and the flexibility and scalability of our technology. I am very proud of my team and what they have accomplished."
Full Capacity Market Register 2 September: https://www.emrdeliverybody.com/CM/DSR-Transitional-Auction-2015.aspx
KiWi Power Media Contacts
Kirsten Palmer-Jeffery Tel: 0207 183 1030
Mob: 07957 622 015 firstname.lastname@example.org
KiWi Power, 45 Broadwick Street, London, W1F 9QW