The HM Treasury’s and Department for Business, Energy & Industrial Strategy (BEIS) initiated a consultation focusing on innovation in utilities, with the aim to “ensure our system of utilities regulation is fit for the future.” As an innovator of technology that will radically transform the market and with a growing global presence, Faraday Grid is keen to engage in the conversation and submitted a response to BEIS, which can be accessed here.
The tenth annual Advanced Energy Conference took place in New York City to bring together influential leaders, key researchers, and policy makers from every part of the energy sector. On the opening day of the conference, Andrew Scobie, Faraday Grid CEO took stage to speak about the pioneering Faraday Grid solution, specifically, the possibilities it can open up for progressing microgrid technology.
The concept of the electricity “prosumer” has informed recent energy policies from the United States to the design of the European Union’s electricity markets. Meanwhile, research on smart grids, residential consumers, and their flexibility has asked how people could change their everyday energy use as a result of innovations on this area. This text explores a use case for residential prosumers and how that could inform designs of a transactional power network, with close links to the concept of energy user or “prosumer”.