Tempus & Origin trial demand management in South Australia
Tempus is partnering with Origin to pilot flexible energy demand management in South Australia.
Tempus Energy’s technology is a demand-side management platform that lets customers use flexible load in their own assets and building management systems (BMS). The technology uses AI and smart algorithms to control and optimise when these flexible assets use energy, reducing costs, aligning with abundant renewables and increasing grid stability.
This radical shift in how electricity is consumed, the first of its kind by a large electricity retailer, aims to reduce the cost of electricity for customers and take advantage of the abundant renewable resources available in the State.
Tempus Energy's cutting edge technology helps overcome the intermittency challenges of renewables, turning it into a more effective, reliable and financially valuable energy source.
Founder and CEO, Sara Bell, said: “Tempus Energy is delighted to be partnering with a forward-thinking energy company like Origin. We are looking forward to helping them explore the benefits and challenges of new flexible energy demand solutions and how this can contribute towards the transition to a lower carbon, stable energy system that can deliver tangible benefits to customers.
South Australia is an ideal place for Tempus to pilot our technology and we thank the South Australian Government for its support. There are natural synergies in our endeavours to deliver a secure, reliable, affordable and clean power for the future, and the potential role of our technology to help customers take charge of their energy consumption.
New markets have new challenges and Tempus Energy can help customers take advantage of renewables and use flexibility to take advantage of market volatility, bringing customers cheaper bills and ensure a more reliable energy system.
Origin Executive General Manager Future Energy, Tony Lucas, said: “Demand-side management is one of the technologies we believe could be part of the future energy mix that helps to maintain affordability and security of energy for our customers. We’re excited to get our trial with Tempus Energy underway in South Australia so we can better understand the benefits and the customer proposition.”
Tempus Energy provides a software platform that connects a customer’s flexible assets to a retailers’ energy trading team, and flexes the customer’s consumption based on predicted pool prices. The technology learns from data available in any modern BMS, battery storage device and other flexible assets.
This optimisation is used to ensure lowest price & lowest carbon emissions, bringing together energy market forecasts and customer consumption predictions to make sure the right asset is doing the right thing at the right time.
From the moment the first solar roof panel was installed and when the first wind turbine blades started spinning, it commenced the inextricable march away from pricing that was divorced from supply/demand economics.
New market conditions
The growth of zero marginal cost renewable generation has created conditions of oversupply and will eventually create undersupply when enough loss-making fossil fuel generation is retired.
This over and under supply creates the pricing dynamic that enables innovation to flourish. Energy only markets, where they exist in the world, can function because high prices have created the investment case for fast response gas fired generation.
Price risk during high demand/low supply events is mitigated by making the electrons in fast response gas fired generation. The same market conditions will create the investment case for a flexible demand-side and battery storage.
Tempus Energy was selected in Free Electrons 2017, the global energy start-up accelerator program that connects the world’s most promising early stage companies with leading utility companies. Origin is one of the eight utilities that co-founded the program.