AI in Power Trading with David Miller (CCO, Gridmatic)

45 snips

Apr 22, 2025

In this engaging conversation, David Miller, VP of Business Development at Gridmatic, dives into the transformative role of AI in power trading. He explains how AI enhances forecasting, bidding, and real-time optimization. David addresses the challenges new entrants face in accessing markets and how AI can streamline their participation. He also discusses the balance between automated trading and human decision-making during market volatility. Lastly, he shares insights on innovative contract structures and the evolving landscape of energy storage, painting a picture of the future of power trading.

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ADVICE

Strong Risk Management Practices

Effective risk management requires monitoring tail risk metrics and investigating unusual market scenarios.
Manually pause automation to manage and understand unexpected conditions before resuming.

ADVICE

Align Incentives for Optimization

Align incentives by structuring contracts so Gridmatic earns based on performance.
Use segregated models to ensure fairness across different contract types and customer structures.

INSIGHT

AI Makes Complex Trading Moves

Gridmatic's AI sometimes makes non-intuitive trading decisions optimizing over multiple ancillary services.
These moves differ from human traders and require deep investigation to understand full rationale.

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As artificial intelligence reshapes every sector, its impact on energy markets is only just beginning to unfold. From smarter forecasts to autonomous trading, AI is opening new doors for market access, optimisation, and commercial participation.

What does it take to go from hype to real-world performance? How can AI lower barriers for new entrants, and how are platforms like Gridmatic helping to automate the complexity of trading in volatile markets? Whether you’re an asset owner, trader, or just curious about how automation is changing the energy landscape, today we’re unpacking where AI is heading and what that means for the future of power market participation.

In this episode of Transmission, Quentin sits down with David Miller, VP of Business Development at Gridmatic, to unpack what AI really means in a power market context. Over the conversation you’ll hear about:

• What AI actually does in power markets: Beyond the buzzwords, David walks through the core functions of Gridmatic’s AI - from forecasting to bidding to real-time optimisation.

• Access vs. optimisation: Why some market participants struggle just to get in the door and how AI can streamline onboarding, participation, and profitability.

• Volatility and opportunity: As market spreads become more dynamic, AI-driven strategies are proving especially valuable for batteries and flexible assets.

• Trusting the black box: What does it take for asset owners to feel confident letting an algorithm take the wheel?

• AI vs. traditional strategies: Why Gridmatic sees its advantage in consistently adapting to changing price signals and operational constraints faster than human traders can.

About our guest

David Miller is Vice President of Business Development at Gridmatic, a US-based AI-powered energy trading firm. With a background spanning renewable energy, commercial strategy, and digital innovation, David works closely with asset owners, developers, and market operators to unlock the full potential of autonomous trading in electricity markets. For more information on what Gridmatic do, head to their website.

About Modo Energy

Modo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.

All of our podcasts are available to watch or listen to on the Modo Energy terminal. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.