What is a Power Pool?
Power pooling is a sophisticated process of balancing an electrical load across a wide network. These could include multiple enterprises pooling resources into one integrated network, or one plant offering a pooled solution.
Joint ownership, communication, and integrated power management are the cornerstones of a successful power pooling ecosystem. A large number of enterprises can be added to a pool, depending on their individual power requirements.
The aim of any successful power pool is to lower the cost of energy generation and utilization. This can be accomplished by sharing variable costs that may arise, depending on the overall power generated and sourced. Below is a more in-depth explanation of a power pool’s benefits.
Key benefits of power pooling
Power pooling presents many advantages to businesses of all sizes, owing to the ease of integration and flexibility provided. Companies can be flexible with their power needs and run a myriad of appliances, machines, and equipment through long durations of time. There is a lower chance of an outage, owing to the many generators and power supply units installed within the network. This makes pooling a reliable source of working with consistent power generation.
Scale plays a major role in the process of power pooling as well. Since businesses want access to a larger power supply during peak seasons, or since they may want to expand to new geographies, they can do so via power pooling. For manufacturers with bulk orders, or even for offices that are running overtime, power pooling becomes a significantly better option.
There may also be greater standardization of equipment used and power generators leveraged. Quality options such as Welland Power’s generators may be the primary drivers within the integrated network for all members of the coalition or pool.
In fact, many leading solutions focus on developing an extensive service network as well. This makes it easier to maintain and run a large number of power generators across a network for longer. Universities, government institutions, industries, and manufacturing hubs around the world can leverage a collective power supply through well-maintained standardized generators.
Cost is another important reason behind power pooling, especially within international markets. Companies can leverage the economies of scale when pooling their power and going off a few key plants.
When companies want to open a new manufacturing hub, an office or a new school, they opt for power pooling as a way to cut costs during launch. They may not be in a position to predict their power needs and may require pooling to start with.
Clarity is necessary within pooling protocols
One of the main reasons why power pools don’t work out is a lack of clarity presented in the agreement. There may be power pools that are smaller in size which can’t keep up with the demands of one or two enterprises. In other cases, the entire pool is costing companies more on a marginal cost basis. Clarity is the key to ensuring that a power pool remains compliant with best practices while providing a consistent supply of energy.
There is significant clarity required when it comes to pooling. This includes having the right agreements in place, to ensure that the supply is consistent throughout a network. Additionally, depending on a tight or loose pooling agreement, a range of solutions can be developed.
For companies in a tight agreement, there may be additional cost benefits and power sharing advantages. In more loose arrangements, multiple companies may be added to the pool to share the core resources. Clarity is necessary when it comes to having the right pooling procedures regardless of the agreement that businesses may be working within.
Image credit: electric grid via Supphachai Salaeman/Shutterstock