Bank Energi 3 takes over from earlier project phases

The BankEnergi consortium have been awarded UK Research and Innovation grant funding by the government’s ‘’Prospering from the Energy Revolution’’ (PFER) fund to develop an end-to-end energy and flexibility trading specification. This will assist the transition to a low carbon economy by enabling smart local decentralised energy trading systems.

The BankEnergi concept can be applied wherever there are clusters of assets suitable for local energy trading.  As well as its base on London’s South Bank, it is working closely with a project based in Islington looking at smart heat networks, called GreenSCIES (Green Smart Community Integrated Energy System).

Following the successful completion of the first phase of the BankEnergi project funded through PfER, the team is continuing to refine the BankEnergi concept.

At a workshop sharing progress on the BankEnergi project, speakers – including Simon Hughes, Chancellor of London South Bank University – outlined how local energy systems can improve air quality, lower bills for organisations in the area, and help foster community engagement.

On 5 June 2019, World Environment Day (WED) has Air Pollution as its theme. Through its work on heat pumps and EVs, the BankEnergi team are working to improve air quality on London’s South Bank.

BankEnergi has been singled out as one of the projects to watch that are funded by the Government’s Prospering from the Energy Revolution (PFER) initiative by New Power, a leading trade publication.

The BankEnergi project has been identified by UKRI, the new UK Research & Innovation body, as “going beyond renewable technology” to design a virtual power plant that will deliver necessary carbon reductions.

BankEnergi are delighted to be speaking at the Energyst Event being held on 1 May 2019 at the National Motorcycle Museum, Birmingham.

ULEZ sign at the Elephant

The entire area covered by the the BankEnergi project lies inside the new Ultra Low Emission Zone.  So it’s not surprising that BankEnergi can help you with strategic actions that will reduce the effects of the ULEZ, both now and after its intended expansion in 2021. 

BankEnergi’s mission is to allow everyone to obtain the cheapest greenest energy available at any given time.  But this will only happen if energy users are able to buy their supply from multiple suppliers, something that’s not currently permitted. To help bring this about, the BankEnergi team attended Elexon’s P379 meeting on supplier volume allocation when settling supplier volumes in a multi-supplier scenario – such as a primary supplier and a secondary supplier which could be a local energy company.