Pod Point takes chargers into another UK flexibility market

UK charge point operator (CPO) Pod Point will enter its EV chargers into the country’s electricity capacity market — where those offering flexible tools to help balance power supply and demand can be paid for doing so — from the start of Q4. The firm’s chargers will then be involved in four different flexibility arenas in the traded Great Britain power market.

The firm will enter 60,000 of its charge points into the capacity market, commencing on 1 October, delivering 65MW of energy flex capacity. It says it is the first CPO to bring EV chargers into the GB capacity market by using the meter in the charger, so-called asset metering, which enables even customers without a smart meter to participate.

As such, the “vast majority of its charger network can participate in providing energy flexibility without any technology upgrades". With Pod Point boasting of being the largest charge point network in the UK, with c.250,000 units, “this makes Pod Point a significant, scale player in both regional and national markets for flex”, the firm says.

Pod Point is already operating in the UKs distribution system operator market, while it has pilots in the balancing mechanism and wholesale power trading markets. Its earlier-than-scheduled debut in the capacity market has led the firm to upgrade its full-year energy flexibility revenues forecast to £0.5mn ($0.65mn), from a previous £0.3mn. That would mean a 900pc increase in cash from flexibility services compared to 2023.

"Our entry into the capacity market represents another important milestone in Pod Point's energy flex strategy and creates further momentum in building recurring revenues for the group,” says Pilgrim Beart, its vice-president for energy flexibility. “It is another example of Pod Point taking the lead in the energy flex market.

“We are the largest energy flex-enabled charge point network in the UK, with a quarter of a million chargers and this provides significant scale and relevance to the grid. Our entry into the capacity market represents significant progress in both these dimensions. It is great that we are upgrading our energy flex revenues again and we have further exciting plans for this emerging market."

The CPO says that optimising its charging network flexibly offers a “win-win-win, with consumers getting cheaper and greener charging as they are rewarded for their participating in energy flex; grid partners reducing costs and avoiding capex; and Pod Point creating high value recurring revenues”.