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Southeast Europe
May 4, 2018 www.intellinews.com I Page 20
are applicable for days sales outstanding (DSOs) mainly because they are intended to ensure com- pliance with technical parameters of the network and to guarantee consumer access to the grid.
As for Bittwatt, its business needs to look at things from the B2C perspective — a relationship that does not interfere with the regulatory sphere of the energy system. Even if we talk about trading, up to a certain volume, participants can complete transactions without notifying regulatory bodies, Stoicescu said.
She expressed her belief that in the future, regu- lators will also implement a standard for total transaction transparency.
"Such processes will be easily integrated into the Bittwatt platform, given that besides the B2C plat- form, we also offer a commercial module that will be adapted to the regulations of each country."
Not all blockchain energy trading models
are similar
Bittwatt is not the only platform that promises decentralised energy trading. Restart Energy’s RED Platform, also originating from Romania, does the same thing. But each has their own business model.
Bittwatt does not attempt to set up franchise networks or local providers, as RED does, and nor does it dedicate itself exclusively to the production or sale of renewable energy or even to becoming the world’s leading supplier, Stoicescu explained. What it is trying to do is create a platform where all participants speak the same language — in other words where all can benefit from rapid, transpar- ent and verifiable exchange of information.
A relevant challenge is the short-time balancing of the system, namely the fine-tuning services pro- vided by the centralised national system operators. Industrial manufacturers acting as virtual power points (VPPs) and storage capacities at micro-level are considered by Bittwatt as contributing to the balancing mechanism — implying that, as not all the technical aspects of blockchain technology are ready yet, small adjustments or additions are not
unlikely during the development stage.
Bittwatt states it wants not only to be a trading platform but also to offer balancing services to its business clients, a matter less known to the general public but very important to the system and with a very high cost impact. For home con- sumers, we want to come up with automated and configurable programmes that work permanently in choosing and switching to the right supplier, according to their set-up, Stoicescu says.
Last but not least, the Bittwatt platform is ac- cessible for free to all participants — suppliers, manufacturers and consumers.
Unlike traditional markets, Bittwatt claims that the blockchain-based market framework is de- signed to empower all users (producers, suppliers and traders) in applying balancing processes.
Indeed, any provider, producer or trader operat- ing on the Bittwatt platform is primarily registered under a balancing platform in accordance with the regulations in force, the Bittwatt CEO explains. The Bittwatt platform, with the help of real-time information collected, offers over-balancing, so that deviations are recorded (or even pre-record- ed) every hour, allowing the market participant to take preventive action, respectively to purchase the energy deficit or to capitalise on its surplus.
The over-balancing mentioned may be provided by several manufacturers, not necessarily just those with tertiary reserve capacity. They will be able to act as a virtual power point (BVPP), providing the energy deficit required by platform participants for a variable fee.
Regarding the feasibility of hydroelectric power stations as a reserve, this aspect has been looked into and even in some cases implemented by EU states, and there are even EU regulations aimed at promoting and supporting them. With pumped storage, it will not be long before the technology becomes accessible at micro-level (for home use) and then at storage level.