Triple Point appoints YLEM Energy to maximise trading opportunities
Operation & Maintenance
Triple Point, a UK-based Investment Manager which invests in businesses that are crucial for the transition to a low carbon economy, appointed YLEM Energy to maximise trading opportunities for its investments in gas peaking businesses.
Triple Point’s ability to maximise trading opportunities was compromised.
As the demand for power rises, peaking plants which enable the delivery of fast-responding, flexible power, play an essential role in the transition to renewables, especially when the output from fluctuating renewable energy sources such as wind and solar power is low. Designed to operate during periods of high demand as well as covering shortfalls in electricity supply, the plants play a critical role in preventing loss of supply for commercial and domestic energy users.
With 42.5MW of peaking plant trading on the Capacity Market, Triple Point’s assets include a fleet of 19 engines at peaking power plants in various locations across England.
But with five engines offline due to serious mechanical issues and the incumbent support provider unable to provide an effective resolution, Triple Point’s ability to maximise trading opportunities was compromised.
Immediate remedial work was essential to ensure all the engines were fully operational and effective O&M services were required in the longer-term to maintain availability during important, commercial periods.
A range of essential O&M services was then implemented, including 24/7 reactive support
for Triple Point’s gensets and peaking plants, with YLEM Energy taking ownership and responsibility for scheduling future service work and engine availability.
YLEM Energy ensured Triple Point’s fleet of
engines were fully operational at the earliest
opportunity and achieved capacity market
targets ahead of the Ofgem deadline.
A partnership with Ylem Energy is set to provide a long-term competitive advantage and will help us to maximise the value of our assets which are an essential component in securing the UK’s energy future, helping to balance the grid and supporting the drive towards net zero.
Providing improved operational
efficiency and availability, this
enabled the companies to
maximise trading opportunities
and secured significant capacity
Recognising technical expertise
Jonathan Parr, Partner and Head of Energy, Triple Point, said: “YLEM Energy’s technical expertise has proven invaluable. As peaking plant owners, Ylem Energy shares its valuable insight which is underpinned by a real world understanding of high-quality O&M services.
Strategic energy partnership
“A partnership with Ylem Energy is set to provide a long-term competitive advantage and will help us to maximise the value of our assets which are an essential component in securing the UK’s energy future, helping to balance the grid and supporting the drive towards net zero.”