A British energy technology firm pioneering peer-to-peer energy trading is paving the way for energy customers to buy and sell electricity in local market clusters through a major deal with one of the Netherlands largest energy suppliers.
Open Utility’s deal with Essent will use a digital framework to create micro energy markets in which its customers can buy locally produced renewable energy in half-hour periods without the complicated, long-term corporate supply deals favoured by major corporations such as Apple, Google and Ikea.
A local hotel, for example, could boost its green credentials by setting its supply algorithm to buy electricity from a local solar farm whenever it has extra power.
“We founded the company with a mission to transform how energy markets work using digital technology,” said chief executive James Johnson.
“In any given half hour we match up the customer with the most local and available generator in that market place. Customers will have visibility of these sources and will be able to prioritise which source they draw from,” he explained.