Blockchain technology, as used successfully in Bitcoin and other cryptocurrencies, is touted as a potential ‘disruptor’ of electricity markets by enabling peer-to-peer (P2P) electricity trading.
In our view, blockchain is not the right foundation because its strengths are negated by the realities of the power system.
We contributed this short piece to the Association of Power Exchanges conference in Brussels.
How will widespread introduction of storage technology affect generation assets? The complexities of wholesale energy markets can lead to non-obvious outcomes.
We simulated the wholesale market impact of battery storage on several classes of conventional generation, to calculate market prices, market dispatch, and revenue, in three different Asia-Pacific markets (Australia’s NEM, the Philippines WESM and Singapore’s NEMS), each with different market fundamentals and storage quantity scenarios.
What will happen to power market operators over the next decade? In this paper we explore four possible futures for electricity markets, and what they would mean for market operators:
- Future 1: The Status Quo
- Future 2: Lean Mean Market Machine
- Future 3: Rise of the Distribution System Operator
- Future 4: It's a Smart Smart World
We also consider how the journey could shape the outcome, and offer some thoughts on how to prepare for an uncertain future.