Piclo and United Illuminating to Develop First DER-enabled Grid Flexibility Market in Connecticut
Connecticut, USA, Thursday 22nd February – Piclo, the global leading marketplace for grid flexibility, will collaborate with local stakeholders including United Illuminating (UI), a subsidiary of Avangrid, Inc. and one of Connecticut’s largest electric distribution companies (EDCs), to establish a new local DER-enabled grid flexibility market - the first of its kind in New England. The new market will enable DER aggregators and Virtual Power Plant operators to earn revenue from flexing their electricity consumption and generation. Connecting them with utilities via a simple, digital marketplace saves time, reduces overall grid costs and boosts grid resiliency. When utilities do not have sufficient supply to match their demand or identify bottlenecks on their grid, instead of having to purchase expensive bulk power from peaker plants on the wholesale market or shut off customer supply, they could instead pay DER aggregators to provide flexibility. For DER owners, this extra revenue stream represents new business opportunities and access to new markets. Aggregating residential and commercial demand and supply can also offer new income avenues to support underserved communities in line with Connecticut’s equity goals and the federal community benefit and Justice40 Initiative. As harnessing DER flexibility can be a cheaper alternative, the savings can be passed onto customers, particularly as affordability is a key issue in Connecticut, which has some of the highest electricity rates in North America. Additionally, this will help the state meet its ambitious electrification and 100% zero carbon electric sector goals by 2040 and Connecticut's Framework for an Equitable Modern Grid.
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