Stem’s PowerBidder™ Pro Selected by Two CCAs in CAISO
March 19 2024 - 8:30AM
Business Wire
Stem’s market bidding software to help drive
returns and operational efficiencies across utility-scale renewable
energy assets for Central Coast Community Energy and Silicon Valley
Clean Energy
Stem (NYSE: STEM), a leader in AI-driven clean
energy solutions and services, today announced that its Athena®
PowerBidder™ Pro application has been selected by two community
choice aggregators (CCAs) – Central Coast Community Energy (3CE)
and Silicon Valley Clean Energy (SVCE) – to support scalable bid
optimization management and help maximize the value of multiple
battery energy storage systems (BESS) in the California Independent
System Operator (CAISO) market. Under this software-only contract,
the CCAs will use PowerBidder Pro’s advanced price forecasting and
optimization features to manage and execute trading strategies for
a growing portfolio of utility-scale assets in CAISO.
“Stem has been a trusted renewable energy partner in CAISO since
2015 and understands the challenges CCAs face to cost-effectively
decarbonize the electricity grid and preserve reliability and
resilience for their customers, said Cedric Brehaut, Vice President
of Cloud Solutions at Stem. PowerBidder Pro’s configurability,
cutting-edge analytics, advanced price forecasting and bid
optimization, and seamless automation offers CCAs the opportunity
to develop and automate customized trading strategies at scale for
the benefit of the more than 14 million Californians they serve,”
he added. “With our expanding footprint across CAISO and ERCOT,
Stem is excited to deliver proven bid optimization software
solutions to support 3CE and SVCE in their collective efforts to
provide clean, reliable, and more affordable energy to their
customers.”
Dennis Dyc-O’Neil, Chief Operations Officer at Central Coast
Community Energy, said, “At 3CE, our highest commitment is to
deliver a more reliable and renewable energy supply for the
communities and business we serve across California. As a public
agency, we are also highly focused on the value we get from the
solutions we procure. Stem’s PowerBidder Pro application offered
the most extensive capabilities to help 3CE efficiently manage our
BESS in the CAISO wholesale market and pass on the benefits to our
customers.”
Monica Padilla, Incoming SVCE CEO at Silicon Valley Clean
Energy, said, “Energy storage has always been a key part of SVCE’s
clean energy strategies as a way to diversify our energy portfolio,
extend clean energy delivery, and enhance grid reliability. SVCE
selected Stem’s PowerBidder Pro for its superior customization and
controls that gives us the oversight we need while honoring
real-time BESS constraints in CAISO and existing resource
agreements. We are proud to be delivering continued value to our
customers through strategic investments in the transition to a
cleaner, more efficient energy supply.”
PowerBidder Pro is expected to begin supporting the CCAs in
2024. The software will manage three resource sites that will help
the CCAs achieve their emission reduction goals, although the
overall value of these assets is highly dependent on bid strategy,
market conditions and contract constraints. Available on the Athena
platform, Stem’s PowerBidder Pro will be instrumental in managing
the CCAs’ storage assets currently or soon-to-be online in CAISO.
PowerBidder Pro’s scalability is also expected to help the CCAs
drive returns and manage risks effectively by seamlessly managing
trading strategies as their BESS portfolio grows and evolves.
Learn more about PowerBidder Pro at
stem.com/powerbidder-pro.
About Stem
Stem (NYSE: STEM) provides clean energy solutions and services
that are designed to maximize the economic, environmental, and
resiliency value of energy assets and portfolios. Stem’s leading
AI-driven enterprise software platform, Athena® enables
organizations to deploy and unlock value from clean energy assets
at scale. Powerful applications, including AlsoEnergy’s PowerTrack,
simplify and optimize asset management and connect an ecosystem of
owners, developers, assets, and markets. Stem also offers
integrated partner solutions to help improve returns across energy
projects, including storage, solar, and EV fleet charging. For more
information, visit www.stem.com.
About Central Coast Community Energy
Central Coast Community Energy (3CE) is a public agency that
sources competitively priced electricity from clean and renewable
energy resources. 3CE is locally controlled and governed by board
members who represent each community served by the agency. Revenue
generated by 3CE stays local and helps keep electricity rates
affordable for customers, while also funding innovative energy
programs designed to lower greenhouse gas emissions and stimulate
economic development. 3CE provides service to approximately more
than 1 million people throughout the Central Coast, including
residential, commercial, and agricultural customers in communities
located within Monterey, San Benito, San Luis Obispo, Santa
Barbara, and Santa Cruz counties. Learn more at 3CEnergy.org and on
social media, including Facebook, Instagram, and Twitter.
About Silicon Valley Clean Energy
Silicon Valley Clean Energy is a not-for-profit, community-owned
agency providing electricity from renewable and clean sources to
more than 275,000 residential and commercial customers in 13 Santa
Clara County jurisdictions. As a public agency, net revenues are
returned to the community to keep rates competitive and promote
clean energy programs. Silicon Valley Clean Energy is advancing
innovative solutions to fight climate change by decarbonizing the
grid, transportation, and buildings. Learn more at
SVCleanEnergy.org.
Source: Stem, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20240319162877/en/
Stem Investor Contacts Ted Durbin, Stem Marc Silverberg,
ICR IR@stem.com
Stem Media Contact Suraya Akbarzad, Stem
press@stem.com
Central Coast Community Energy Peter Berridge Manager of
Communications pberridge@3ce.org
Silicon Valley Clean Energy Michaela Pippin Principal
Communications Specialist 408-721-5301 x1020
Michaela.pippin@svcleanenergy.org
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