E-World 2018 – Enerchain attracts further attention

Six European utilities use blockchain technology to trade power and gas during E-world 2018

During the E-world energy & water conference on February 6-8 in Essen, Germany, PONTON arranged for a couple of LIVE trades together with project participants:

  • Endesa and Gas Natural Fenosa completed the first blockchain energy trade transaction in Spain (see press release),
  • Verbund and Salzburg AG firstly traded a day-ahead delivery of power in the Amprion zone (see press release), and
  • Energie AG Oberösterreich and Stadtwerke Leipzig traded a monthly baseload trade of power, also in the Amprion zone (see press release).

Many market participants have been watching Enerchain from the sideline since the project started as a proof-of-concept in June 2017. As this phase is going to end by March 31st 2018, the next phase will aim at ramping-up an Enerchain legal entity which will pool decision making and governance processes. We thus expect a number of newcomers joining Enerchain in Q2/2018. Interested market participants are invited to contact Rex Kempcke at PONTON (kempcke[at]ponton.de, +4940866275-350) for a detailed information package.

 

About Enerchain

Enerchain is an international project aiming at decentralised trading of energy wholesale products – please visit the Enerchain website for more details. 39 participants use the consortional blockchain “Tendermint” in connection with the WRMHL framework – a blockchain middleware developed by PONTON to directly execute trades with other market participants over the blockchain.

As Ernesto Ciorra, Global Head of Innovation at ENEL, put it on a recent project meeting:

“Enerchain is probably the most innovative project in the energy space today.”

Indeed, there is no other blockchain project in the energy & blockchain space that has reached Enerchain’s level of maturity.

Enerchain implements the broker-based OTC trading model that has been supported in the past only by centralized broker platforms. Participating traders can buy and sell wholesale power and gas products such as intraday quarter hours and hours, day-ahead as well as weekly, monthly, quarterly, and yearly baseload contracts.

Delivery zones are all European market areas and hubs. Apart from those standard products, participants may also agree on rather exotic products such as load curves (day-ahead or longer), peak-load products, deviating delivers periods such as 5 minutes or 45 minutes or prompt products like “rest of week” or “rest of month”. Thanks to the generic Enerchain product definition, participants may agree on even more user-defined products that fit their actual requirement – without requesting support by a centralised platform.

Image: E-world energy & water GmbH, Udo Geisler