The world is changing –
For good, and for the better
Did you know that the green transition has a big problem, a massive one in the EU? Already this year, most electricity production will come from weather-dependent sources. At the same time, demand is becoming more volatile and harder to predict. Together, these forces create an exponential need for flexibility to keep the grid balanced in any weather. That’s where we step in with the perfect solution and an AI helping hand.
In the Nordics alone, energy companies pay over EUR 2 billion every year to cover estimation errors. Across the EU, the market for flexibility is expected to reach EUR 100 billion within just a few years. For us at Truman Data, this transformation is a once-in-a-generation opportunity.
Truman Data has built a state-of-the-art ICT solution for distributed demand response, enabling automatic trading without middlemen or manual work. In simple terms, we automate the settlement of demand response contracts between two parties. For example: A real estate fund, a city, or any large building owner can get paid to temporarily reduce consumption and at simulanly save money on their energy bills, while the demand response buyer avoids costly penalties caused by sudden drops in renewable generation from wind, solar, or other sources.
Part of Truman Data’s intellectual property, the Energy Coop Platform-as-a-Service markets integration was originally developed by VTT to unlock previously inaccessible small-scale flexibility. That part of our service manages contracting, reporting, and fund transfers on a transaction-by-transaction basis, eliminating the need for long-term commitments. A unique granularity model in the innovation also enables large purchases to be automatically aggregated from many smaller offers, making the Energy Coop PaaS scalable and suitable for energy flexibility trades of any size, even tiny ones below market thresholds, as the system bundles them together into a single large unit for buyers
As flexible energy and demand response are essential to balancing national grids, the need is only growing. The transition to green and variable energy sources, which will happen despite what anyone in Washington says, makes forecasting far more complex and costly, and with all of that by 2030, demand for flexibility and demand response is going to increase tenfold. Ensuring global electricity stability requires completely new initiatives that add flexibility to the grids in addition to flexible energy production … and that’s exactly what we do!
Truman Data’s Energy Coop Sector Coupling solution enables systematic demand response, while the Energy Coop platform delivers fully automated flexibility trading. Together, these cloud-based functions of Energy Coop will address one of the biggest global challenges of our time.
Need of Energy Flexibility is urgent
The green transition, regardless of trade wars or political tensions, continues to drive clean energy adoption in the EU and eventually in the US as well. The most common clean energy sources, wind and solar, are inherently variable, making accurate production forecasting nearly impossible.
(Click the image to access IEA for detailed information about the data and background of this graph.)
The electrification of end-uses and the rise of variable renewables are reshaping electricity systems across all time scales. According to the IEA, the need for demand response is expected to grow from 1% to over 20% of total flexibility by 2030. For comparison, batteries are projected to provide only 6%, underscoring the critical role of demand response in ensuring grid stability.
(Click the image to access IEA for detailed information about the data and background of this graph.)
Buildings are estimated to provide 50% of total demand response potential—equivalent to approximately 260 GW during peak periods (IEA). This means we need to connect 260 GW of building loads to demand response systems and create solutions to ensure their widespread utilization. For context, 260 GW equals Germany’s entire electricity generation capacity in 2022. Solving a challenge of this scale is essential for integrating enough renewable energy to meet Net Zero Emission targets. Energy Coop offers a concrete solution to this global challenge.
(Click the image to access IEA for detailed information about the data and background of this graph.)
Higher renewable penetration will reshape Finnish wholesale power price dynamics.
The number of hours with both extremely high and very low (even zero) electricity prices will increase significantly. As a result, the annual average real wholesale power price is expected to rise by approximately 86% by 2050 compared to today (Sitra).
(Click the image to access the Sitra ‘Enablingcost-efficientelectrification in Finland’ report for detailed information about the data on the graph below)
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