The prototype of a blockchain-based online flexibility platform (eFLEX) is now ready for network operators, flexibility service providers and prosumers to participate and trade surplus energy or demand. The platform developed within INTERRFACE Demo 6.2 has received encouraging response from various stakeholders earlier. eFLEX aims to match prosumers’ surplus energy or consumers’ demand with the network operator’s local need for flexible energy.
How does eFLEX benefits various stakeholders within electricity market?
- reduces overload of network (congestion)
- reduces investment in costly hardware/network upgrades, or even power outages in the short term
- enables simple and smart token-based micropayments increasing overall market efficiency and reducing the intrinsic market entry barriers for distributed generators and other flexibility assets (electrical loads, storage, EVs)
- supports the complex communication and cooperation of many stakeholders or assets with the aim of avoiding bottlenecks at the distribution-grid level.
In the new release of eFLEX the following was achieved:
- Visibility: Visualizing the evolution of DSO/TSO congestion as well as availability of flexibility assets (5 years ahead) in Romania and Bulgaria.
- Onboarding: DSO/TSOs can register themselves and configure their needs. Flexibility service providers can register themselves and submit offers
- Trading: Safe transaction, payment and settlement between DSO/TSO and flexibility service providers (FSPs) using Blockchain
- Coordination: Real-time communication using blockchain-based ledger
INTERRFACE Demo 6.2 aims to create a platform which is scalable to be applicable in whole Europe, allowing trading of flexibility services among prosumers TSO and DSO. It adopts blockchain technology as a means for secure, reliable and transparent cooperating agreements and information sharing exploiting its decentralized approach. The platform eFLEX is not only a standalone concept but will also be a key element of the Interoperable pan-European Grid Services Architecture (IEGSA) which is the main deliverable of the INTERRFACE consortium