Demo Project 9: Local Trading

Enable the future: Local Trading provides citizens and asset owners access to a local energy market.

Vision (DP09) in a nutshell

DP09 enables trading of energy between buildings and asset owners. Local trading represents a peer-to-peer trading scheme enabled through a Distributed Ledger Technology (DLT) which allows for zero fee micro-/nano-payment protocols for trading between consumers/prosumers, local energy resources, system operators, across DPEB’s and between mobile and stationary sectors.

Problem addressed & specific objective

The uptake of electric vehicles (EV) and the increase in renewable energy sources (RES) poses large challenges for grid operators in terms of grid imbalance and forecasting. Connecting building energy and electric vehicles will not only result in healthier consumers across the EU’s towns and cities, but it will also offer support to consumers to engage with smart charging arrangements and contribute to managing and balancing spikes in digital transport and power networks. Digital technologies such as distributed ledger technologies (DLTs) have been used to stipulate and enable trading that enforces proportional fairness among energy and transport participants at the city level. DLTs act as a transaction technology to monitor and control the impact that real-time traffic and intelligent streets and buildings have on the power network. This solution is the first of its kind to define a way to co-optimise the impact of local transportation and community energy onto power distribution networks. 

Related +CityxChange solutions

Energy Trading Platform:

The +CityxChange Energy Trading Platform is a prototype that facilitates the trade of power in a local energy market. It is accessible to all local energy resources with digitised communication and control. The trade platform for local energy resources is innovative in its design and operation due to the fact that it gives all local energy resources – independent of size – market access. It operates the market by using algorithms in an intraday market. In the P2P energy trading platform, asset modules provide a decentralised marketplace for enhanced trust, auditability, interoperability and more adaptability to participant needs and preferences.