Press Release: Hamburg, September 29, 2017
European Energy Trading Firms to execute Trades over the Blockchain on EMART
The next Enerchain milestone will be reached on the EMART 2017 conference in Amsterdam taking place on 3-5 October, when the first live trades directly between buyers and sellers, located in their trading rooms, will be executed in front of the public. This will mark the beginning of recurrent live trades in a broad range of energy products with physical delivery.
In May this year 23 European energy trading firms joined Enerchain in order to proof-the-concept of peer-to-peer trading in the wholesale energy market using innovative blockchain technology. Since then the number of participants has significantly grown and is now comprising 33 companies that represent a large portion of the European Power and Gas trading market.
PONTON has made significant progress with developing the software and is currently connecting all 33 participants to the blockchain-based decentralised marketplace application. This allows participants to further test new, self-designed products, perform load tests and also to focus on selected energy wholesale products, as well as other business processes, to be shifted to the blockchain.
“The Enerchain project is helping us to better understand the future potential of blockchain technology. We essentially expect this project to provide us with deeper insights into how the settlement of energy trading transactions can be simplified. This is the ideal time window in which to test this emerging enabler technology and to develop new digital energy solutions.” Peter Gönitzer, General Manager, Wien Energie
“With the concrete use of blockchain technology BKW pursues efficiency gains in settlement and billing of increased trading volumes. Perspectively, we see OTC-trading of non-standard products (e.g. decentralized production and customer profiles) and also subsequent processes (e.g. balance group management) as obvious business cases for Enerchain.” Volker Lischke, Head of Trading, BKW Energie AG
“Currently, the great potential of blockchain technology in the Enerchain project has not yet be fully exploited. As the project progresses, the disruptive business models will become more in focus and will provide added value for operators of decentralized renewable-energy-systems and consumers.” Michael Frech, technical head of the renewable energies group ARGE Netz.
“Our customers’ interest led PETROL to offer crypto-currencies based on blockchain through our gas stations two years ago. It was well accepted. Since then, blockchain technology entered into different areas of our business. As our vision is to offer our customers excellent and highly efficient services, we joined the Enerchain project. We believe Enerchain will help us to transact our energies in a better way. We at PETROL say that energy is for life, and improving energy for us is improving life”, said Rok Vodnik, Board Member of Petrol d.d. Ljubljana responsible for Sales, Trading, Energy and the Environment.
“We see great potential for Blockchain to increase automation and efficiency of our trading operation. Using Blockchain in the over-the-counter deal process is one of the most concrete business cases for this technology in the European energy market and we are excited to participate in the Enerchain project,” says Niek den Hollander, Head of Trading at Vattenfall.
Michael Merz, managing director of PONTON says: “The motto of Enerchain is ‘roads are made by walking’. It is an exciting endeavour to tap on no man’s land in trading. As P2P networks penetrate business communities, fundamentally new solutions can be found for instantaneous settlement, selfdefined products, RFQing of load curve products, etc. The blockchain is just like a distributed operating system, applications are only limited by the creativity of the users.”
Contact: PONTON GmbH, Michael Merz, firstname.lastname@example.org, +49 170 85 22 894.
Find out more about Enerchain® here: http://enerchain.ponton.de