Piclo unveils new flexibility platform

Flexibility services provider Piclo has unveiled a new platform which it says will be a “one stop shop for all electricity markets globally”.

Piclo Max will be rolled out in the UK from next year and is designed to simplify and improve electricity market access for flexibility service providers.

The company explained that flex sellers face many barriers when accessing markets due to their “complex and opaque nature”. This, it added, includes the fact they have to deal with multiple platforms, each with different systems and protocols.

Its existing platform, Piclo Flex, provides an independent marketplace for local flexibility, but there are different platforms for wholesale, capacity and balancing markets which it said “places a huge time and cost burden on flex sellers, limiting participation and competition across the industry”.

The new platform, it explained, will provide cost and time efficiencies, as well as access to new and existing income via revenue stacking.

“For example, from operational assets already registered on the Piclo Flex marketplace, Piclo Max could unlock over £750 million a year in revenue stacking opportunities,” it claimed.

Those buying flexible capacity meanwhile will gain access to a wider selection of vetted flex sellers and increased market liquidity.

Piclo chief executive James Johnson said: “The launch of Piclo Max will be a crucial step in our mission to decarbonise grids. We are incredibly excited to take electricity and flexibility markets to the next stage, building on our track record in the UK, Europe and the US.

“We’ve already seen strong commitments from industry leading flex sellers, who, like us, want to make real strides towards a more aligned UK electricity market. Flexibility is a tangible, viable tool for decarbonisation, today.

“It is a proven tool for efficiently balancing the grid and reducing the cost of future grid reinforcement, globally, delivering immediate value for our customers and wider society.”

Read our interview with Johnson from earlier this year