To mark the occasion, we welcomed key energy industry influencers and business leaders to join us for a discussion on the findings of the report over breakfast. For those who weren’t able to make it, we’ll be revisiting the highlights of the event below – just read on.
Victoria’s Renewable Energy Advocate Simon Corbell opened proceedings, speaking on the important role that the PPA market has to play in supporting future renewable energy growth and proofing for reliability.
Last year, Flow Power introduced PPAs to the Australian market with the view to giving local businesses a way to tap into low-cost power over a long-term period. While the savings from PPAs are significant, we knew that businesses could cut down on costs further by integrating demand response into their energy management strategies.
This is why we commission ISF and WWF-Australia to analyse the energy consumption profiles of three Victorian-based Flow Power customers and determine the possible financial savings delivered from combining PPAs and demand response.
The result? More agile energy management, with greater flexibility to meet businesses’ needs and the ability to generate significant financial savings.
Jonathan Prendergast, research consultant at the Institute for Sustainable Futures and Lead author of the report, discussed the key findings of ISF’s analysis into the on-the-ground data provided by these businesses and confirmed the potential for demand response to deliver additional significant cost reductions.
Regardless of whether a businesses chooses to shut down non-essential operations during peak periods or generate its own power onsite, varying forms of demand response are able to deliver greater savings, on top of the cost reductions provided by PPAs.
Finally, Simon Prunster, GHG and Energy Specialist at Yarra Valley Water; Dr Christopher Hegarty, CEO of ANCA; and Jackie McKeon, Renewable Technologies Manager, joined Jonathan on the stage to partake in a panel discussion on the topic.
Both Flow Power customers, ANCA and Yarra Valley Water, were able to shed light on their motivations for choosing to forego traditional fixed rate contracts and what it has meant for their businesses. Most importantly, data from Yarra Valley Water, ANCA and Select Harvests revealed that across the board, businesses could save up to 33.3% on energy costs. This figure is on top of the already significant cost reductions delivered by corporate renewable PPAs.
If you’re interested in hearing more about how you can save on energy costs with demand response, reach out to our team here.