Plans have been completed to execute the first European energy trade over a Blockchain by Yuso and Priogen Trading during EMART Energy 2016, November 3-4 in Amsterdam Netherlands. Both traders will use the Enerchain trading tool, developed by Ponton Gmbh out of Germany.
Enerchain allows to anonymously send orders though a trading screen. Counterparties use Enerchain to click on this order on screen to conclude a transaction – all done “peer-to-peer” without a marketplace operated by a third party. The tool supports energy products like day-ahead, monthly, quarterly and yearly baseload for power and gas. As a result, an EFET trade confirmation is created that can be uploaded to the EFETnet eCM confirmation matching service.
Bart Pycke from Yuso said:
“Yuso is excited to conclude the first European energy trade over the Blockchain. We believe the Blockchain technology holds great promise to improve the functioning of the short-term power markets. Our trade on the Enerchain platform demonstrates how the technology can be used today and we look forward to work with interested industry peers to further validate the use of this technology in our industry.”
“Priogen is enthusiastic to facilitate the first European Blockchain trade. We believe the Blockchain technology can be a massive accelerator of the energy transition. The technology lowers the entry barriers, opening up electricity marketplaces to more participants and their potential energy flexibility,” added Bart de Brouwer of Priogen.