Island utility trades on Swedish expertise
Manx keeps lights on through Vattenfall's flexible trading platform
Vattenfall, the Swedish energy group, has agreed a deal with Manx Utilities to provide the Isle of Man’s publicly owned energy supplier with flexible electricity trading opportunities with the GB wholesale market.
Manx Utilities will buy and sell power through Vattenfall’s Flex Expert electricity trading platform this month [April 2019], with power imported and exported through the island’s interconnector to the British mainland.
Manx Utilities ensures reliable power supplies to the island, as well as sell surplus production into the GB market. Vattenfall’s Flex Expert product gives Manx Utilities the ability to manage its electricity needs from within a single day to two years in advance.
Vattenfall has been developing and operating wind power in the UK for ten years, investing over £3.5bn in that time. More recently it has started up businesses in electric vehicle charging, district heating, power distribution and acquired retail firm iSupplyEnergy. We are determined to make fossil free living possible for our customers in one generation.
James Hunt, who leads Vattenfall’s sales and origination business in the UK, said: “We’re delighted to have signed up Manx Utilities to the leading Flex Expert platform, we hope it’s a start of a long-lasting partnership. The digital platform puts the customer in control, with transparency and ease of use key to its success. The ability to trade efficiently with a trusted partner is central to delivering positive solutions for our customers.”
Chairman of Manx Utilities, Dr Alex Allinson MHK, said: “Manx Utilities stabilises the price of electricity to its customers through imports and exports to drive efficacy. This new partnership with a European leader in energy trading will continue to help us maximise future opportunities. It also gives us access to expertise on a range of new technologies which will be essential for us to meet our commitments to address climate change.”
Vattenfall’s Flex Expert gives Manx Utilities the ability to buy and sell power in advance. When generators on the island produce more than it needs, Manx Utilities can sell that power through Flex Expert. When the Island is short, Manx Utilities can remotely order what it needs through Flex Expert without having to make a phone call or send an email.
Vattenfall has over 100-years’ experience supplying electricity to large Industrial and commercial businesses across Europe.