The new partnership will allow Stagecoach to participate in the Capacity Market from October 2024, while looking at several other opportunities to support the grid and its energy transition goals.
The Capacity Market aims to ensure there is reliable electricity supply to meet peaks in demand, safeguarding against the possibility of blackouts if renewables sources such as those dependent on weather, are not generating enough. By participating in the Capacity Market, Stagecoach will support the grid when there is a high risk that a system stress event could occur whilst reducing the total cost of ownership from its fleet transition to EV through revenues earned by participation.
EV fleets are expanding at a fast pace in several of the world’s largest markets. This is being driven by governments and operators who are promoting electric vehicles as a key technology to curb oil use, fight climate change and air pollution.
As bus companies increase their EV operational fleets there are new opportunities to use this load not only as consumers but also as contributors to the power grid and its decarbonisation through the integration of renewables.
GridBeyond Head of EV Solutions Michael Kent said: “There are many opportunities for EV fleet operators to support the grid and become a key player in supporting the energy transition. We look forward to working together with Stagecoach and to start the Capacity Market programme. The long term contract it is a recognition of GridBeyond expertise and capabilities.”
Stagecoach Asset Management & Infrastructure Director Tony Cockcroft said: “We are pleased to be partnering with GridBeyond as we press ahead with our ambitious fleet decarbonisation plan. Using GridBeyond’s expertise in energy markets will enable us to get the most value out of our significant investment into our electric fleet.”
