Hybrid Greentech connects LOOAD's EV charger portfolio to Energinet's balancing markets

Hybrid Greentech (HGT) has gone live as Balance Responsible Party (BRP) for LOOAD, the Danish electricity retailer and charge point operator, trading flexibility from their EV charger portfolio on Energinet's aFRR balancing markets. The chargers are connected to HGT's trading platform via Spirii's charge point management system (CPMS).

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While most electricity retailers in Denmark compete on price alone, LOOAD has found a way to generate revenue from assets their customers already own. When an EV charger is plugged in but not actively charging, it can briefly adjust its power consumption to help stabilise the electricity grid. Energinet, Denmark's transmission system operator, pays for that service through its balancing markets. Through Spirii’s charge point management system, HGT now handles the trading, real-time control, and settlement that make this possible for LOOAD's charger portfolio.

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A growing revenue stream

Every charger in the portfolio is generating monthly revenue from the aFRR capacity and energy activation markets, revenue that the vast majority of Danish retailers and charge point operators are currently leaving on the table. Across a portfolio of 15,000 chargers, the cumulative earnings are significant. With more than 500,000 EV chargers already installed in Danish homes and the number growing rapidly, the uncaptured value sitting in retailer portfolios across the country is substantial.

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The activated energy is settled through the European aFRR energy activation market (known as PICASSO), where prices regularly exceed 300 EUR/MWh, and Energinet is procuring increasing volumes of balancing reserves as the share of wind and solar on the grid grows. The revenue opportunity is expanding, and retailers without a flexibility strategy risk falling behind.

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For LOOAD, the partnership does more than generate revenue. It creates a competitive advantage: customers who earn money from their charger have a reason to stay.

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“With the challenges the electricity grid faces today – and is expected to face for many years to come – we see it as an important responsibility to contribute to a more stable and robust energy system. Fortunately, we are in a position where our efforts not only benefit the electricity grid but also create new revenue opportunities. In the longer term, it is our ambition to share that value with our customers. This is a development we very much look forward to realising,” says LOOAD CEO Søren Behnfeld.

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How it works

The technical connectivity is provided by Spirii, whose charge point management system (CPMS) communicates the necessary data from LOOAD’s chargers to HGT and translates control signals from HGT back to the hardware. This allows EV charging power to be aggregated and traded in flexibility services and energy markets.

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“For years, EV chargers have been viewed as a cost of electrification and a strain on the grid. What we are seeing now is a shift towards charging infrastructure becoming an active part of the energy system. By connecting chargers to energy markets, flexibility can create value not only for the grid, but also for charge point operators and EV drivers. We are proud to provide the platform and integrations that enable partners like Hybrid Greentech and LOOAD to unlock that value,” says Spirii CEO Mathias Wiecher.

What comes next

HGT's aFRR service is live and proven. The roadmap extends into additional balancing and intraday energy markets where the revenue potential is even greater. Retailers and charge point operators that onboard their portfolios now will be first in line as each new market opens. Those that wait will face competitors who already offer customers tangible monthly earnings from their EV chargers, heat pumps, and home batteries, making it increasingly difficult to retain or attract customers with flexible assets.

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The bigger picture

As renewable generation grows, so does the need for balancing reserves to keep the grid stable. The assets that can deliver that flexibility affordably are already installed in hundreds of thousands of Danish homes, but only a fraction participate in balancing markets today. Unlocking them is both an economic opportunity for households and a prerequisite for a power system that can run on renewables around the clock.

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“Energinet sees it as highly positive that increased liquidity is now entering the balancing markets from smaller, decentralised assets such as EV chargers. This supports a more flexible and efficient use of the power system, while also enabling the continued integration of renewable energy,” says Sisse Friis Hansen, Senior Manager, Balancing Markets at Energinet.

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HGT charges no onboarding fee and operates on a pure profit-share model.