NODES unlocking flexibility in DATA CELLAR project
NODES is an independent marketplace and leading technology provider supporting the energy transition and driving sustainability through its innovative market platform and custom-shaped services and products. NODES has a proven track record in implementing flexibility markets and management services, tailored to the specific needs of utility companies, including Distribution and Transmission System Operators.
Via NODES market, the existing but so far unavailable flexibility from residential assets, SMEs as well as industrial and commercial assets can be procured by system operators. They can reserve and activate the optimal flexibility volume for congestion management, demand response, grid capacity limitations (due to excess RES production), voltage control, etc. Flexibility Service Providers are remunerated for the delivered flexibility allowing for new business models and cost optimization.
NODES provides the market environment and technology solutions for all market agents that operate in the market as Buyers or Sellers. This includes
- Display of congested areas
- Flexibility reservation and activation
- Transaction services including validation, settlement, and invoicing
- System Operator communication and coordination mechanisms
- Asset and portfolio registries for Flexibility Service Providers
- Baseline support
- Market monitoring
Aiming to reduce complexity through user-friendly solutions, NODES has successfully deployed flexibility markets worldwide. In these markets, NODES facilitates transactions between system operators and flexibility service providers, enhances market liquidity, and supports grid reliability. Moreover, operative flexibility markets show that NODES marketplace and technology solutions facilitate the use of existing and future flexibility resources, and drive new technology developments and innovation while supporting economic growth and driving social welfare.
How did NODES start?
NODES was created on the back of a project in southern Norway to defer investments in an overloaded substation for two weeks per year. By creating a marketplace and utilizing flexible assets in the area, the grid operator was able to defer millions of euros in investment costs.
This project formed the basis for a new and innovative electricity market design promoting the new role of an independent flexibility market operator in the current European electricity market. This new market design has led to the creation of the company and the NODES software platform that implements this market design in real life.
Today, thanks to NODES’ extensive experience from multiple operative flexibility markets and pilot projects worldwide, it has identified key market agents and operations to complete the new flexibility value chain. NODES market platform and services are developed to support these market agents and operational processes and data requirements associated to flexibility markets.
As of today, NODES is the market operator for 15 local flexibility markets spread across Scandinavia, UK, and Canada. Furthermore, NODES consults grid operators and Flexibility Service Providers across the globe to establish flexibility markets and technology solutions within pilot and research projects to further transition to standard operational products and services.
Which is the role of NODES in DATA CELLAR?
NODES is one of the validation case partners in DATA CELLAR. By being the expert on flexibility markets, the project is influenced so that both NODES and other stakeholders in the flexibility industry can use Data Cellar for data management and ensure secure and reliable data exchange.
Today, each market decides its approach to meter data collection which is crucial for validation and settlement. If Data Cellar could be utilised as a reusable solution for such data across Europe, it would hugely save costs and effort for those who seek to start a local flexibility market.
DATA CELLAR plays thus a crucial role in optimising, simplifying and facilitating the data requirements related to flexibility markets addressing core topics like data volumes, formats, standards, data quality, data storage, and data exchange among market participants. Ideally, the project will become a reliable access point for asset and meter data.
Why is NODES important for DATA CELLAR?
Flexibility markets are still in their early days across the world. Based on NODES’ experience it is in a unique position to guide the project in a direction where DATA CELLAR can become a relevant asset for future development of local flexibility. Better utilization of the existing power grids would benefit not only the flexibility industry but also society as a whole.
Read all the validation cases here.