Project REMeDY - spearheading a Revolution in Energy Market Design
Lead Participant:
SOUTHEND ON SEA BOROUGH COUNCIL
Abstract
The energy market is failing to capture the industrial benefits from the green technology revolution and tackle the climate crisis. We urgently need a REMeDY -- a Revolution in Energy Market Design to match the revolution in green technologies.
Our solution is HIVES - a revolutionary new energy company business model to deliver Horizontally Integrated (working across electricity, heat and mobility vectors) Vertical (including generation, distribution, flexibility and supply) Energy Systems.
By integrating system operation and supply at a local level, in a way that puts customers first, works for financiers and is regulatory compliant today, HIVES provides a blueprint for a new national electricity system design, beyond the faltering 'supplier hub' model, to a distributed and highly efficient zero-carbon architecture.
Project REMeDy will develop the HIVES approach to produce a local energy system design covering the whole of the populous town of Southend that is proven to be replicable in localities across the UK. A major investment prospectus will set out capital funding arrangements for the design, with work on the first major infrastructure projects planned for 2022.
This world-leading project will catapult UK industry to the forefront of the global transition to local energy systems.
Our solution is HIVES - a revolutionary new energy company business model to deliver Horizontally Integrated (working across electricity, heat and mobility vectors) Vertical (including generation, distribution, flexibility and supply) Energy Systems.
By integrating system operation and supply at a local level, in a way that puts customers first, works for financiers and is regulatory compliant today, HIVES provides a blueprint for a new national electricity system design, beyond the faltering 'supplier hub' model, to a distributed and highly efficient zero-carbon architecture.
Project REMeDy will develop the HIVES approach to produce a local energy system design covering the whole of the populous town of Southend that is proven to be replicable in localities across the UK. A major investment prospectus will set out capital funding arrangements for the design, with work on the first major infrastructure projects planned for 2022.
This world-leading project will catapult UK industry to the forefront of the global transition to local energy systems.
Lead Participant | Project Cost | Grant Offer |
|---|---|---|
| SOUTHEND ON SEA BOROUGH COUNCIL | £706,231 | £ 564,985 |
Participant |
||
| VITAL ENERGI UTILITIES LIMITED | £158,573 | £ 52,329 |
| SMS ENERGY SERVICES LIMITED | £2,850,150 | £ 940,549 |
| IMPERIAL COLLEGE LONDON | £259,814 | £ 259,814 |
| FUTUREGOV. LTD | £104,124 | £ 72,886 |
| THE LONDON BOROUGH OF BARKING AND DAGENHAM | £1,027 | £ 822 |
| EMERGENT ENERGY SYSTEMS LTD | £293,834 | £ 96,966 |
| UNIVERSITY OF EAST ANGLIA | £327,510 | £ 327,510 |
| MANCHESTER METROPOLITAN UNIVERSITY | £3,949 | £ 3,949 |
| PLACES FOR PEOPLE GROUP LIMITED | £64,403 | £ 21,253 |
People |
ORCID iD |
| Geeta Gaundar (Project Manager) |