Stem’s PowerBidder™ Pro Selected by Two CCAs in CAISO
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
SAN FRANCISCO–(BUSINESS WIRE)–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.
Contacts
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
