Dermot Nolan, former CEO of Energy Regulator Ofgem, joins Sitigrid as a Strategic Advisor.
Sitigrid’s technology creates equitable local energy markets.
Online PR News – 17-September-2022 – London – Sitigrid, the cleantech local energy market technology company, today announces the arrival of Dermot Nolan, the former Chief Executive of the energy regulator Ofgem, as a Strategic Advisor.
Sitigrid’s technology creates equitable local energy markets contributing to the social good - supporting Net Zero, encouraging green generation and providing savings to customers. Dermot joins other industry experts on the Sitigrid team including: Jeff Whittingham who has held senior positions in energy companies including Orsted UK, British Gas, RWE and United Utilities and Mark Bygraves, until recently the CEO of Elexon, the manager of the GB wholesale electricity market.
On his appointment Dermot said “the development of local energy markets and peer to peer trading between consumers and prosumers will play an important role in the decarbonisation, decentralisation and digitisation of energy markets. I really think Sitigrid’s technology is the kind that has the scope to make a major difference in local markets and is something that regulators and policymakers have been hoping would come along. I am delighted to join the Sitigrid team and to contribute to the growth of the company”.
Jeff Whittingham, Sitigrid’s CEO said “I am very pleased to welcome Dermot to Sitigrid and the exciting and innovative work we are doing to revolutionise and disrupt the energy market. Dermot brings with him huge experience of the energy market and its participants which will be invaluable to the development of Sitigrid’s local energy market platform. I look forward to working with him and the leadership team to position Sitigrid as the market leading technology platform for local energy markets”.
Jeff added, ”To achieve Net Zero we need to encourage more green electricity production and to enable customers to benefit from local on shore generation. Energy is too expensive, with wholesale prices based on a national charging model. But by matching green generation to individual customer consumption, Sitigrid’s technology can create local energy markets and unlock value that can be shared between generators and customers. This matching also eliminates ‘green washing’ by evidencing the source of production. Sitigrid’s technology is creating equitable local energy markets which will contribute to the social good - supporting Net Zero, encouraging green generation and providing savings to customers.”
Sitigrid recently announced a trial with Electric Places. The trial, based in Corby, will demonstrate that digitally matching local generators to local customers can reduce the end cost of electricity whilst increasing the revenues for local generators, creating benefits for everyone in the community. This trial will be a blue print for these markets which can be established around the UK.
This matching also eliminates green washing with evidence that consumption in each half hour was indeed from green sources.
This innovative business model, enabled by Sitigrid’s technology, creates loyal and engaged customers and positions the supplier as a disruptive force in the energy retail market, whilst also encouraging further investment in green generation which is so essential if we are to achieve our Net Zero objectives