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FORNY20-FORNY2020

Optibid - decision support software for intraday electricity trading

Alternativ tittel: Optibid – programvare som gir beslutningsstøtte for strømhandel i intradagsmarkedet

Tildelt: kr 5,0 mill.

I løpet av det siste tiåret har kraftprodusenter i økende grad handlet nærmere leveringstidsounktet, i intradagmarkedene. Denne veksten vil fortsette enda raskere i årene som kommer, delvis drevet av tilstrømningen av variable fornybare kraftressurser, som vind og sol. Disse energikildene har imidlertid usikker produksjon som øker prisvolatiliteten i kraftmarkedene. Kraftprodusenter har derfor en mulighet til å øke fortjenesten ved å handle mer intelligent. Optibid er et beslutningsstøtteprogramvareverktøy for vannkraftprodusenter som tilbyr skreddersydde handelsstrategier i intradagmarkedene. Den er basert på forskningsresultater fra Institutt for industriell økonomi og teknologiledelse og Institutt for elkraftteknikk ved Norges teknisk-naturvitenskapelige universitet (NTNU). Optibid gir vannkraftprodusenter mulighet til å utnytte sin fleksible produksjonsevne bedre, noe som gjør at mer variabel fornybar produksjon kan komme inn i systemet, og slik bistår overgangen til et mer fornybart energisystem.

A main result of the project was a minimal viable product (MVP) that was used by three of the ten biggest hydropower producers in Norway. Backtest studies with marginal cost curves from pilots show a substantial increase in potential profit of using flexibility on intraday markets. The pilots are interested in subscribing to the technology. Hence the project accomplished the main goals of demonstrating the technology in an industrial context, validating the value proposition of the technology, and building trust in a new method. For the secondary aims, the project could get a direct connection to Nord Pool’s data stream without becoming an independent software vendor (ISV), and thus it was no substantial gain to become an ISV. Instead of the original plan to get a distributor, the project rather developed a REST API so any hydropower producer can use the technology regardless of distributor. This made development quicker and ensured that distributors and their standards were gatekeepers for use. The project intended to motivate a spinout company to acquire venture capital funding for the go-to-market phase of the technology after the technology was verified in the project. Inventors of the technology joined the spinout company Versiro during the project period. The company received pre-seed funding from Startuplab and Fortress Fund and thus the project accomplished secondary goals 4 and 5 to get venture capital to back further commercialization of the technology. The overall goal for the project was to assist the integration of renewable energy and improve efficient use of resources. Results from the backtest studies show that the MVP assist power producers to make better decisions under uncertain production and volatile prices. For instance, if the power system experiences more wind than expected, the hydropower should ramp down production and save that energy to periods of low wind. The technology thus helps to shift supply to when it is most needed and to counter variable renewable production.

Budsjettformål:

FORNY20-FORNY2020