Why an electricity contract from UrbanChain could be right for your business…
UrbanChain is a disrupter, blazing a new trail in the UK Energy Market. Their unique Peer to Peer (P2P), energy exchange circumvents the wholesale market, allowing Renewable Energy Generators to export their energy to consumers, essentially cutting out the middle-man. Renewable Energy Generators take home higher profit and Energy Consumers secure affordable, fully traceable, renewable energy. Thanks to fair and reliable pricing all participants avoid the costs associated with engaging in the traditional wholesale energy market.
Direct Power has been working with UrbanChain to bring their offerings to our customers, so get in touch today for a bespoke quote from this energy market disruptor.
Pros:
- Cost savings: UrbanChain offers competitive UK electricity Import and Export prices thanks to their Peer to Peer (P2P), advanced energy exchange. By using this secure, transparent energy market, consumers receive renewable energy directly from renewable generators.
- Renewable energy options: Buying energy through UrbanChain’s advanced peer-to-peer energy exchange means you secure, traceable green energy and support sustainable energy sources. By transacting in this fair and just way you fully avoid green washing. Using renewable energy reduces your carbon footprint and contributes to a cleaner environment.
- Flexibility and choice: UrbanChain currently offers two tariffs to suit the needs of electricity consumers:
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- UrbanChain Fixed – Non-commodity costs are fixed for the duration of the contract. Commodity cost is subject to a price cap. Customers know that the price they will pay could go lower, as new generators are introduced onto the peer-to-peer exchange. The commodity price will never go higher than the price cap. A good choice for HH and NHH customers who want competitive prices without the uncertainty of a flexible price.
- UrbanChain Flex – Non-commodity costs are variable as they are passed directly through, passthrough. So non-commodity costs may vary throughout the duration of the contract. Customers billed prices will fluctuate month to month. Variable cost components, means less risk price premium added to the cost stack, resulting in a very competitive offering. Commodity cost is subject to a price cap. Customers know that the price they will pay could go lower, as new generators are introduced onto the peer-to-peer exchange. The commodity price will never go higher than the price cap. Good for HH customers who prioritise price over price certainty.
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- Customer service: It is easy to download your bills and consumption data via the UrbanChain portal. Transparent and simple contracts.
- Helps you meet your NetZero Commitments: Name and Source your green energy as it is 100% provable and 100% traceable. No greenwashing, your energy is consumed directly from UK renewable generators, such as wind, solar and hydro, all through UrbanChain’s peer-to-peer energy exchange.
Requirements:
Meters must have Half Hourly read capability and already be installed, this offer is not available for new connections currently.
What happens if there is an Imbalance in UrbanChain’s P2P energy market?
As in the traditional wholesale market, in a peer-to-peer (P2P) energy market, an imbalance refers to a situation where there is a mismatch between the energy production and consumption among participants in the market. In the UK wholesale energy market, imbalances are managed by Balancing and Settlement Code (BSC) arrangements, overseen by the Electricity System Operator (ESO), which is part of National Grid. However, in a P2P energy market, where energy is directly traded between participants, imbalances need to be addressed in a decentralized manner. At the time of publishing, the average imbalance in UrbanChain’s energy market is only 0.5%, and the incident rate of the system sell price being above £250/MWh is also less than 0.01%. In UrbanChain’s Fixed contract, if there is any imbalance, and if the system sell price goes above £250/MWh, it will be passed on to the consumer. UrbanChain match consumers directly with HH renewable generation, so any imbalance will be resolved with energy from the grid or back up CHP generators. UrbanChain report exactly what % of back up energy is fully green and what is not. Any customer requiring imbalance mitigation from 100% renewable energy will receive REGO’s.
Update on UrbanChain!
UrbanChain’s entry into the UK energy market was initially met with enthusiasm as an innovative solution to rising energy costs. However, like many new ventures, it has faced challenges along the way. Recently, there have been indications of a decline in customer service standards. As concerned observers, we await further developments to see how UrbanChain addresses these issues.
If you are an UrbanChain customer and have questions or concerns about your contract, we encourage you to reach out. Transparency and open communication are essential for resolving any service-related issues. Feel free to get in touch if you need assistance or clarification regarding your UrbanChain contract. We will not provide legal advice, but will endeavour to help as best we can.
