German carmaker Volkswagen and its Elli division entered the EPEX Spot power bourse with a stationary system and a digital electricity trading platform. The pilot project was launched with 28 battery systems and 34 e-up! cell modules.
Volkswagen Group became the first automotive company to start trading on the German electricity market of Europe’s largest power exchange, EPEX Spot.
The basis for electricity trading is a stationary storage system made of e-up! batteries and a new, digital electricity trading platform run by the carmarker’s Elli brand. The PowerCenter will store the energy traded on the electricity market. The pilot project is aimed at anchoring the growing storage capacities of electric cars and batteries in the energy system and making an important contribution to the energy transition, the company said.
Elli seeks to position itself in battery flexibility market
“We are already Europe’s largest mobility service provider in the field of charging and energy. We want to further expand this leading position and develop Elli into a leading trading company for battery flexibility. Electricity trading is a major milestone on this path. Our long-term goal is clear: We want to give our customers a clear advantage in terms of electricity prices and at the same time develop new, high-revenue business models that will strengthen Elli in the long term,” Elli CEO and Head of Sales Giovanni Palazzo said.
Elli is investigating the possibilities and scalability of large-scale storage systems together with battery company PowerCo
On July 1 he also became senior vice president responsible for the Volkswagen Group’s global charging and energy business.
The base is an intelligent platform for trading, controlling and optimizing batteries. Bids can be automatically placed on the stock exchange via the platform. The trading results are translated into a timetable and the battery is automatically charged or discharged, Volkswagen explained.
Buy cheap, sell when power prices are high
Electricity is purchased during periods of low prices (with a tendency towards a high share of renewables) and sold during periods of high prices (with a tendency towards a low share of renewables), the company added. The stationary battery storage uses 28 battery systems and 34 e-up! cell modules.
More activity also means more trading opportunities for all market participants, said Head of German Public and Regulatory Affairs at the EPEX Spot Kora Töpfer. “Our continuously growing electricity exchange needs companies that want to get involved in trading and control the growth of renewable energies with us in order to compensate for fluctuating demand and energy supply,” she pointed out.
Elli is investigating the possibilities and scalability of large-scale storage systems together with battery company PowerCo. In the future, the growing e-car fleet can also be integrated into the energy grid via Vehicle-2-Home and Vehicle-2-Grid and serve as a mobile power bank, the announcement reads.
The division also provides energy olutions. Three months ago it said it reached half a million electric vehicle charging points in the European Union.