Hot News: Enerchain 1.0 went Live on May 20, 2019
Find the press release here:
Decentralisation is the future direction the energy sector: instead of producing gigawatts of power by classical nuclear / lignite / hard coal power plants, the future is millions of households producing those gigawatts altogether.
Decentralisation means also to trade, deliver and consume energy where it is produced. Only the residual production goes to higher grid level and from there to remote regions. Decentralisation also means less congestions in the power grids and more resilience for neighbourhoods.
Decentralisation therefore means that each region has its own market, its own constraints and therefore its own price incentives to produce or consume. Enerchain supports the growth of decentralised energy by providing a trading infrastructure that fits best: to regional or wholesale products, gas or power, or to mitigate grid congestions.
Thanks to Enerchain, these markets do not require a central trading platform. Prosumers, consumers, and suppliers directly trade with each other regional products while wholesalers trade cross-regional products.
„Enerchain is probably the most innovative project in the energy world“
Ernesto Ciorra, Global Head of Innovation, ENEL
Enerchain proof of concept
Over 40 of the leading European utilities supported Enerchain during its Proof-of-Concept (PoC) phase in 2017 and 2018. Together with the Enerchain participants we did a range of tests to optimise system performance and designed a secure infrastructure for the decentralised trading process.
As a result, the fastest blockchain technology is available today: blocks are finalised each second and transactions are processed “end-to-end” within less than a second. We tested the technical infrastructure in various environments for wholesale trading. In addition, we learned from a range of pilot projects how to apply Enerchain for trading wholesale products, flexibility options, and kWhs within energy communities.
Enerchain 1.0 go-live on May 20th, 2019
The Enerchain infrastructure can be used for wholesale products but also for those who create new decentralised markets for highly innovative products – be it other commodities like coal and oil, PPAs, PoAs, or even other industrial products.
PONTON is already in discussion with multiple trading companies about the launch of Enerchain in local markets and is about to run a dedicated test and live chain. Participating in the test environment is easy: market participants only need to download the Enerchain Trading Screen and request access to the test chain.
Using a decentralised marketplace has not been technically and economically viable before the launch of Enerchain. Previously market participants traded products bilaterally in a less efficient way.
“The possibilities with the Enerchain are endless: over-the-counter
trading, balance group management, wholesale trading
and much more”.
Solarplaza Guide to Companies involved in Blockchain & Energy
PONTON has spent the last two years of development on Enerchain and we have continued to extend the features of Enerchain:
- Functional Features
o Create, modify, cancel and execute orders
o Use credit limits to select with whom you can trade
o Place orders anonymously
o Receive trade files directly into your ETRM system for post-deal processing
o Trade power and gas, wholesale and regional energy
o Support of non-standard products such as load curves, peak load, etc.
o Support of continuous trading and RfQs
o Trading Screen for immediate access to the decentralised market
- Technical features
o Permissioned blockchain using public key certificates for participant authentication and true end-to-end encryption
o Extremely fast: one second block time, end-to-end message delay is less than one second
o Penetration-tested, load tested, security tested
o Supports multi-cloud environment
o Fail-save architecture: in case of node failures, fail-over time is limited to a few seconds.
o Open API to send and receive blockchain transactions
The technical documentation and API specification make it easy for developers to integrate trading functionality in existing front and back-office systems such as settlement systems, accounting or inventory systems.
How much does it cost?
Enerchain 1.0 can not only be used by wholesale energy traders, but also by new players like industrial consumers, wind and solar park operators, microgrid developers, suppliers of power, and new market roles that will emerge in line with decentralised trading. All will pay the same low fees (find details in the price sheet):
The monthly participation fee is EUR 500,--. For partners who intend to use a dedicated environment for a separate consortium creating their own internal market, we offer process-specific conditions.
Marketplace functionality known previously only from centralised platforms is available with the release of Enerchain 1.0 even for small market segments at very low cost.
How to Enerchain?
PONTON is offering access to the test environment for parties interested in testing/internal demo for one month for free and without having signed the contract:
- Step 1: Request access to the test environment
- Step 2: Adjust firewall settings for the test environment
- Step 3: Download and install the Enerchain software
- Step 4: Perform basic UAT tests
Further steps for live trading
- Step 5: Sign contract
- Step 6. Adjust firewall settings for live environment
- Step 7: Download and install software
- Step 8: Start trading
If you are interested in launching your own marketplace for new products together with your trading counterparties, if you are part of a consortium, or if you have ideas for using Enerchain for trading of not-so-standard products, we’d also like to discuss this with you. We are already working on interesting use cases for trading anything from non-energy commodities to industrial components, maybe we can help out here?
The WRMHL Blockchain Framework
PONTON has developed the WRMHL Framework as the technical foundation of Enerchain. WRMHL is a blockchain infrastructure for B2B integration that offers a trusted, enterprise-ready and low-cost blockchain middleware for industry consortia. It supports processes beyond trading and beyond the energy sector.