The opportunity to earn is, on average, every third hour of every day of the week, regardless
of whether it is peak hour, night or day. The Virtual Power Plant allows us to participate
in the balancing market where the price depends on the hourly balance of electricity
production and consumption. For example, if the wind blows weaker than forecast, the share
of wind energy in the network will fall below the forecast level and there will be a
shortage of electricity. As a result, there is a real-time need for additional electricity
in the network and the price on the balancing market rises higher than the Nord Pool
exchange price.
If our Virtual Power Plant has made an offer to the market for that hour, the system operator
will send an order to the VPP to reduce the load of electricity for consuming equipment or
increase the load of electricity for generating equipment.
The Virtual Power Plant forwards the order to the devices that are marked as available at
that hour and their load is changed accordingly. In this way, the balance of the power
network is restored by the VPP, and the owners of the equipment earn income by contributing
to it. When the general network balance is restored, the devices switch to normal mode. If
necessary, the same process is repeated the next hour.
