EPEX SPOT selected in the Flex Markets Unlocked Innovation Programme

London, 1 December 2023. We have been awarded funding from the Flex Markets Unlocked Innovation Programme, together with our partner Gridimp Ltd, from the Department for Energy Security and Net Zero's £1 billion Net Zero Innovation Portfolio, for our e-gate project, which will specify and develop an end-to-end solution for flexibility service providers (FSPs), from technology to market. Thanks to the funding, together, we will contribute to simplifying the market entry process, reduce operational complexity and ease revenue stacking.

Focusing on the market access of small FSPs, the consortium will look to bridge the gap between energy management, aggregation solutions and market platforms to bring those assets to market. Furthermore, the project aims to remove technical and financial barriers to markets and develop a simplified bidding workflow, to demonstrate how flexibility can gain value from wholesale, local and national markets.

“At Gridimp we are delighted to be a partnering with EPEX on the e-gate project!  Gridimp’s mission is to bring the opportunity to participate in flexibility markets to all energy consumers and this ‘flex markets unlocked’ programme has excellent alignment with our mission.  Flex participation is a vital part of the net zero transition and a fantastic opportunity for energy consumers to benefit from new revenue streams. This project gives us the opportunity to combining the leading expertise of EPEX in running the wholesale energy market with our experience at Gridimp trading in flexibility markets. This combination, ranging from market operation through to flex equipment control, will allow us to develop innovative approaches to successfully unlock access to multiple flex markets.” – Edward Ross, Technical Director, Gridimp Ltd.

Philippe Vassilopoulos, Director of Product Development at EPEX SPOT, said: "We are excited to be partnering with Gridimp for the development of this ground-breaking e-gate project. Our goal, together with Gridimp, is to provide a solution for flexibility service providers, from technology to market, simplifying market entry/access down to the asset/device level and facilitate value stacking across energy markets. This opportunity will mark a milestone in unlocking flexibility markets within the wider energy market ecosystems and we are proud to be lending our expertise in local flexibility and wholesale markets to develop this solution."

For more information check out the Department for Energy Security & Net Zero (www.gov.uk)