AutoGrid enables CLP’s Demand Response programme to set a global industry standard
CLP’s Group Ventures & Research team continues to play a unique role and make key strategic venture investments to derive tangible strategic value for CLP. CLP’s venture investments have helped CLP to achieve different milestones.
CLP’s venture investments are bringing direct value to CLP’s operations. One example is CLP’s implementation of AutoGrid for Peak Demand Response, one of the world’s largest Demand Response programmes. Since 2020, CLP Power has invited residential customers with smart meters to make slight adjustments to their consumption behaviour and reduce their energy use during peak demand periods on hot summer days. In 2023, 950,000 households were invited to join the programme, and around 70% of these households saved a total of 410,000 kilowatt hours (kWh) of electricity over a four-hour peak time, which is equivalent to a reduction of 160 tonnes of carbon emissions.
CLP’s venture investments are also unlocking new lines of business. In 2023, CLP sponsored a technology pilot with Hydro X, an Israeli hydrogen transportation and storage technology company, to successfully demonstrate that the Hydro X solution can safely store and extract hydrogen at high quality as an initial step to scale up its technology platform. In 2021, Hydro X received an investment from CLP-OSEG, CLP’s joint venture with the Other Sources Energy Group in Israel. CLP is committed to supporting its ecosystem partners in developing decarbonisation technology such as hydrogen technology.
The CLP Digital team has a wide competence in digital services and solutions and data services. The Digital team is tasked with approaching issues and rethinking operations digitally, particularly in the areas of generation, grid, backend operations, sustainability, customer engagement, and achieving a decarbonised customer base.
