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Blockchain energy platform launched by European consortium

The consortium contends that we must prepare for a future in which we are largely dependent on consumers with their electric cars, home batteries and heat pumps to stabilise the grid reliably and sustainably.

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Blockchain platform is designed to help everyone gain benefits from the energy transition
Blockchain platform is designed to help everyone gain benefits from the energy transition

A consortium of some of Europe’s largest transmission system operators (TSOs) are working together to develop a cross-border blockchain platform to give consumers access to future sustainable energy markets.

 

The partners, TenneT (Germany and the Netherlands), Swissgrid (Switzerland) and Terna (Italy), point out that the electricity system increasingly relies on sustainable and fluctuating electricity generation and there is a need for new sources of flexibility to deal with the balance of electricity demand and supply.

 

In contrast, many TSOs traditionally have been reliant on fossil fuel thermal power plants for this purpose. At the same time, energy consumption is also changing due to the increasing demand for electric cars, heat pumps and solar panels. All this leads to fluctuations in supply and demand.

 

New world energy systems

 

In tomorrow’s energy world, decentralised electricity producers, consumers and storage facilities such as electric vehicles, domestic batteries and heat pumps will help to cope with grid bottlenecks and balance fluctuations between generation and consumption.

 

According to the partners, the Equigy blockchain platform will enable millions of European households to actively offer the flexible capacity of their electric vehicles and house batteries on the energy markets. This will stabilise the electricity system and in return they will earn money from the energy transition.

“Data can be exchanged between the devices, market players and grid operators. This means that everyone will soon be able to help realise the energy transition, and also benefit financially from it.”

As an open source solution, the platform will be available free of charge.

 

“Now that the conventional power stations are closing, we are preparing for a future in which we are largely dependent on consumers with their electric cars, home batteries and heat pumps to stabilise the grid reliably, sustainably and cost-effectively,” said Manon van Beek, CEO of TenneT (Netherlands and Germany).

 

“In order for all these devices to work together to balance the grid, the Equigy platform provides an important technical basis. With this platform, data can be exchanged between the devices, market players and grid operators. This means that everyone will soon be able to help realise the energy transition, and also benefit financially from it.”

 

The Equigy platform will initially be launched in Germany, the Netherlands, Switzerland (Swissgrid) and Italy (Terna). The partners expect other European network operators to join as well.

 

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