Viridity Energy Announces Launch Of Dynamic Load Management Program At American Electric Power Headquarters To Enhance System Reliability By Engaging Customer Load
Philadelphia, PA - Viridity Energy recently announced that American Electric Power (AEP) will deploy Viridity’s VPower platform at its Columbus headquarters to actively manage and optimize their electric load. Through this pilot program, AEP will demonstrate how real-time, dynamic customer load management can serve as an active, reliable resource that works in tandem with generator, utilities and grid operators to achieve a more efficient, reliable and cost-effective electric grid.
Through VPower, AEP’s headquarters will now be able to participate in the wholesale power market, and the utility will experience first-hand how “smart buildings” can be used in conjunction with generators to achieve cost effective and reliable electric service.
To implement AEP’s customized solution, Viridity Energy’s VPower engine optimizes AEP headquarters, taking into consideration overall load forecast and generation forecasts, energy prices, and the attributes of their building including its resources, systems, and constraints. VPower then matches AEP’s operations against market pricing forecasts to give them the optimal schedule for using the least amount of energy when prices are high, and shifting variable energy load to when prices are low. By communicating directly into the building’s Building Management System, VPower will implement AEP’s customized energy strategy through a packaged, automated solution that can be initiated in seconds. The energy resources available at AEP headquarters will be monetized in the capacity and energy markets operated by PJM Interconnection (PJM), creating a recurring new revenue stream for AEP headquarters and providing a valuable service to the grid by creating the requisite reliability needed to be a viable load asset.
“AEP is leading the industry by example in showing that a smart energy future is achieved when customer load can work together with generation to balance the electric grid in real-time, providing benefits to all consumers,” said Audrey Zibelman, President and CEO of Viridity Energy. “Our VPower solution suite gives our customers the ability to forecast power market prices across multiple markets and automatically align their operations in order to maximize their revenue potential and energy savings. By giving our customers the ability to react proactively to real-time changes in grid prices and reliability, companies such as AEP are stepping into the smart energy future as virtual power generators.”
SOURCE: Viridity Energy