Volue Launches Innovative Volue Asset Controller to Enhance Reserve Market Participation
Jari Mäkitalo, Account Executive at Volue Energy Market Services
“This solution will also benefit customers engaging in day-ahead curtailments under the upcoming 15-minute market, even without direct mFRR participation.”
A new Volue Asset Controller allows energy producers to fully take part in the profitable reserve markets while reducing imbalance costs.
As more intermittent energy is introduced into the market, both imbalances and the importance of frequency restoration reserves (FRR) increase. This presents great challenges but also great opportunities for energy producers and storage operators.
Originally developed to support wind power producers, the Volue Asset controller is also ideally suited to other forms of renewable energy production, including solar, hydro power, and battery energy storage systems (BESS).
This advanced solution automates regulating operations, such as ramping, to reduce the impact of balancing power, while enabling simultaneous participation in mFRR, aFRR, FCR-D and FCR-N markets. The controller also allows logging and storing of measurement data locally, which helps in prequalification process.
In addition, the controller can adjust generation profiles in line with day-ahead and intra-day trading strategies. Rather than focusing solely on maximum output, the controller allows producers to manage balance risk and reduce deviations from forecasted production.
It is currently operational across nearly 20 assets, primarily wind power sites within the mFRR market. Development for deployment in the aFRR market is well underway, with pilot installations already successfully completing prequalification tests. Broader rollouts are planned in the near future.
Uniquely, this solution delivers a powerful fusion of hardware and software that enables market participants to fully capitalise on opportunities in ancillary markets. Not only does the Volue Asset controller maximise profitability for asset owners, it also supports transmission system operators in ensuring a secure electricity supply and progressing towards a clean, market-driven energy system of the future.
“We have managed to solve a huge challenge while generating substantial revenue for our clients. This is the essence of what we aim to deliver." says Marko Taipale, Head of 24/7 Energy Management at Volue.
Facts about Volue Asset Controller
Beneficial for:
Producers of wind power, solar power, and hydro power – and for energy storage systems.
What?
An application for automatically regulating the energy production based on market signals. Enables participation on mFRR and aFRR as well as FCR-D and N markets and supports day-ahead and TSO/DSO curtailments as well as real time (im-)balance management.
Why?
Enables asset control and trading on separate ancillary markets simultaneously for optimised revenue. Energy producers can minimise the imbalance costs as the Volue Asset Controller can steer production according to traded volumes.