Engie chief executive Gérard Mestrallet said attention to demand response has “increased significantly” in the past year, becoming a more mainstream priority for system operators, governments, utilities and investors internationally.
“We want to be able to continue to offer our customers a wide variety of commercial solutions that work for almost every company under every set of circumstances,” he added.
“Engie believes in demand response as an environmentally friendly and revenue-enhancing service for customers, a way to meet the challenges of the energy transition to a low carbon economy and further integration of renewable sources of generation.”
By 2050 electricity demand is set to double as more transport, heating and electronic devices are integrated onto existing energy grids and more than £110 billion of investment will be required, in the UK alone, to meet growing demand.
Demand response is a technique which uses technology to reduce electricity consumption at peak times across industrial and commercial sites, as a cleaner and more efficient method of grid balancing than traditional peaking power stations.
Co-founder and chief executive Yoav Zingher said: “There are many opportunities opening up in the marketplace and our fast growth to date is indicative of our agility and drive to harness technology and innovation to bring new solutions to tackle the challenge of balancing energy demand and supply.”
Last month, National Grid announced it would radically overhaul the way it balances the UK’s electricity system to rely mostly on demand-side measures, rather than using generating assets, by the end of the next decade.