Developed by a consortium run by Octopus Electric Vehicles and Octopus Energy in partnership with UK Power Networks (UKPN), Energy Saving Trust, Open Energi, CPS, and Guidehouse, Powerloop has allowed over 130 electric vehicles (EVs) to become both generators and consumers of energy.
The consortium has been collaborating with National Grid ESO to develop the foundations that will allow Powerloop to enter the Balancing Mechanism in the coming months. Together they have been simulating qualifying and participating via existing routes to market, to ensure domestic EV drivers will be able to benefit from grid balancing.
Both in terms of traded value and volume the Balancing Mechanism is the largest flexibility marketplace in the UK, and works as National Grid ESO’s primary tool for managing grid issues in real time. It is currently dominated by gas-powered CCGT plants, with utility-scale battery storage also playing an increasingly large role.