Harnessing flexibility monetization in the industry sector

Alexander Kofink, CEO of CyberGrid, participated in the 'NEFI Technology Talk: Economically viable flexibilities in industry - Low haging fruits?', which took place on the 17th of April from 11:00 until 15:00 in Leoben, Austria. On the path to a climate-neutral industry, flexibility management opens a wide range of opportunities in the energy market to face price volatility and to stabilize the energy supply. The event was organized by New Energy For Industry (NEFI), the Montan University of Leoben, and Bioenergy and Sutainable Technologies GmbH (BEST).

In the industrial sector, the use of advanced clean technologies can speed up global decarbonization efforts and even pay off economically. But how flexible is the industrial production? What is the flexibility usability in terms of industrial decarbonization? These challenges were addressed during the NEFI Technology Talk by several industry experts.

Monetizing industry flexibility

Implementing energy-efficient technologies and processes reduces energy consumption and associated carbon emissions. These advanced technologies can be used in the industry, for instance, for the optimization of production schedules. Likewise, the participation in demand response programs by adjusting production schedules or energy usage in response to grid conditions can help balance supply and demand and provide financial incentives for the industry.

By integrating flexibility management with decarbonization strategies and exploring monetization opportunities, the industrial sector can transition to more sustainable and resilient operating models while potentially securing financial benefits. Clean technologies capable of controlling your energy portfolio can enhance your efficiency and profitability by enabling advanced tools to manage the flexibility of your assets. For example, thanks to automation or real-time monitoring of your assets.

Diversifying participation across multiple energy markets

During the NEFI Technology Talk, Mr. Kofink participated with the presentation 'Extreme volatility: what conclusions can be drawn from the 2022 energy crisis?'. He introduced CyberGrid as one-stop shop from the initial consultation to the technical market connection, and highlighted the opportunities that lie behind multi-marketing, emphasizing revenue optimization through pooling of different assets and markets.

He stressed how you can maximize profitability and make revenues of up to 200 kEUR/MW/a through the flexibility of your energy assets. He mentioned some of the assets that are suitable for control reserve provision to obtain revenues on the balancing reserve market, such as: hydroelectric power plants, mills, heat pumps, power-to-heat, among others. Last but not least, he referred to CyberNoc, a flexibility management platform that can market your flexibility 24/7. This software solution can manage and monetize flexibility in multiple energy markets, which substantially increases the revenues you can obtain in the power market.