The deliverable 2.7: Local DPEB trading market demonstration tool was submitted by Powel & IOTA, with contributions from ABB, and NTNU in January 2021. The deliverable was indicated as confidential, however, the authors agreed to make it available publicly. The executive summary of the deliverable is available below and the full deliverable at the end for download:
The demonstration includes trade operations with local energy resources like PV, EV chargers (V2G), batteries, heat, flexible load and others. The trade solution – inclusive the back-office routines – is based on a complete digitized chain of data flow and dispatch actions and opens up for a wide range of asset types and is scalable and replicable.
The delivery has a distinct innovative approach to local market design and operation. This is due to that the market access and operation are fully digitalised including the asset preferences, clearing and settlement. The D2.3: Report on Flexibility Market describes in detail technical and intentions of a local flexibility market. This learning is the basis for the design of a local energy market as described and made ready for demonstration of a trade platform in this report.
The software solution is in its kernel operating the local market similar to how trade is executed in the energy wholesale market. The solution is scalable when it comes to number and size of assets. It is also possible to configure the solution to manage multiple local markets. Sector coupling for local market trade of energy is made possible to be demonstrated because all actual energy assets are metered with smart meters and the heat resources are presented in the local marketplace as a flexible resource/product.
The trade solution is technically made for being automated operated. The Powel Digital marketplace is operated by the market operator and receives bids (bid includes buy and sales offers) from all market participants. Registered local assets are participating at the Digital marketplace by utilizing the Powel Algotrader software. Data is received from the ABB OPTIMAX ® units which are installed at each market asset site. Integrity of data about executed trades is guaranteed by the IOTA tangle and data is exported to the billing responsible part which in the project demonstration will be the market operator. Dispatch of agreed trade of flexibility is executed from OPTIMAX ® directly to the asset or as a signal to the building energy management system for the dispatch action.
The local energy market trade solution is going to be implemented and demonstrated in Trondheim as a Lighthouse City within the +CityxChange project.