Timing-based business models for flexibility creation in the electric power sector |
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| Affiliation: | 1. University of St. Gallen, Institute for Economy and the Environment, Tigerbergstrasse 2, 9000 St. Gallen, Switzerland;2. UCP – Católica Lisbon School of Business & Economics, Palma de Cima, 1649-023 Lisbon, Portugal;3. Amsterdam University of Applied Sciences, Weesperzijde 190, 1097 DZ Amsterdam, The Netherlands;1. Department of Energy Engineering, Sharif University of Technology, Tehran, Iran;2. Department of Chemical Engineering, University of Waterloo, 200 University Avenue West, Waterloo, ON N2L 3G1, Canada;3. Sharif Energy Research Institute, Sharif University of Technology, Tehran, Iran;4. General Electric (GE) Digital Energy, GridIQ Innovation Center, 650 Markland Street, Markham, ON, Canada;5. Canmet Energy Research Centre, Haanel Dr, Ottawa, ON K1A-1M1, Canada;1. Energy for Sustainability Initiative, MIT Portugal Program, Faculty of Sciences and Technology, University of Coimbra, Rua Luís Reis dos Santos, Pólo II, 3030-788 Coimbra, Portugal;2. CeBER, Centre for Business and Economics Research, Faculty of Economics, University of Coimbra, Av. Dias da Silva, 165, 3004-512 Coimbra, Portugal;3. INESC Coimbra, Institute for Systems Engineering and Computers at Coimbra, Rua Sílvio Lima, Pólo II, 3030-290 Coimbra, Portugal;4. Institute for Future Energy Consumer Needs and Behavior (FCN), School of Business and Economics/E.ON Energy Research Center, RWTH Aachen University, Mathieustraße 10, 52074 Aachen, Germany;1. Durham University Business School, Durham University, Mill Hill Lane, Durham DH1 3LB, UK;2. NIT Bhopal, India;3. NIT Kurukshetra, India;1. North China Electric Power University, Beijing, 102206, China;2. School of Economics and Management, Yan''an University, Yan''an, 716000, China;3. School of Electrical and Power Engineering, Taiyuan University of Technology, Tai''yuan, 030002, China |
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| Abstract: | Energy policies in many countries push for an increase in the generation of wind and solar power. Along these developments, the balance between supply and demand becomes more challenging as the generation of wind and solar power is volatile, and flexibility of supply and demand becomes valuable. As a consequence, companies in the electric power sector develop new business models that create flexibility through activities of timing supply and demand. Based on an extensive qualitative analysis of interviews and industry research in the energy industry, the paper at hand explores the role of timing-based business models in the power sector and sheds light on the mechanisms of flexibility creation through timing. In particular we distill four ideal-type business models of flexibility creation with timing and reveal how they can be classified along two dimensions, namely costs of multiplicity and intervention costs. We put forward that these business models offer ‘coupled services’, combining resource-centered and service-centered perspectives. This complementary character has important implications for energy policy. |
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| Keywords: | Business models Renewable energy Flexibility Timing Distributed generation Demand response |
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