Name: Tempus Energy
Date founded: 2011
Founders: Sarah Bell
Targeting the growing demand management technology market, Tempus Energy helps customers take hold of the energy consumption in their own premises, using smart meters and controls, algorithms, internet of things and energy storage.
Created by CEO Sarah Bell in 2011, the company works with customers to put together energy savings plans, explaining how patterns of usage and devices could be better managed to reduce bills. The firm installs devices that monitor usage and allows customers to access consumption data in real time.
Tempus Energy launched as an official energy supplier in March 2015, helping customers manage pre-agreed loads within specific time periods based on what’s happening in the electricity markets. By demystifying the complex layers of energy pricing, the firm aims to reduce transmission, distribution and wholesale costs of electricity for its customers.
As most people have “flexible” appliances in their premises, such as storage heating, air conditioning, refrigerators and industrial processes, Tempus Energy shifts usage of these appliances away from expensive times into periods when prices are low, such as during the night.
According to Tempus Energy, flexibility of demand and being able to balance different technologies could save between £8bn and £17bn in energy bills a year by 2050.
The government has backed such initiatives, encouraging the wider use of energy storage and smart demand management systems to better match the supply and demand of energy.
When previously it was assumed that customers needed to pay more to reduce their carbon footprint, Tempus Energy recognises that low-carbon electricity needs to be economically viable and has developed technology so that users don’t have to choose between saving money and doing what’s best for the environment.
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