Three of Europe’s biggest Transmission System Operators (TSOs) have launched a blockchain-based platform, aiming to unlock the flexibility of consumer-based devices.
Equigy, unveiled on 22 April by Swissgrid, TenneT and Terna, is designed to enable integration of small and distributed consumer-based assets, including electric vehicles (EVs), to play a role in the balancing process. The platform will be launched in the Netherlands, Germany, Italy and Switzerland initially, with Denmark likely to follow as a fifth country after Energinet expressed an interest in joining. It will aim to unlock as many clean distributed energy sources as possible.
It is not exclusive and can operate in synergy with other balancing schemes and tools. It will be provided free of charge and open source to encourage the development of secondary applications across the energy value chain. The TSOs added that the sole aim of the platform is to bring down entry barriers for distributed energy resources and support the transition to a climate-neutral electricity system.
Rene Kerkmeester, Initiator and Programme Director of Equigy, said: “Europe’s energy transition aims to drive more renewable power through the grid. But weather-dependent power is volatile: we can’t rely on the sun to always shine, or the wind to always blow. Also, we cannot yet store large amounts of electricity. In many countries, we are therefore still reliant on fossil fuels to balance the grid when renewable sources aren’t available. This is not good for the planet and it’s costly. Equigy offers a sustainable and cost-effective solution to this challenge.”