TenneT, Sonnen, and Vandebron joined forces with IBM for two pilot projects in blockchain technology for managing the electricity grid in the Netherlands and Germany. Vattenfall has come out with Enerchain that focuses on the execution of bilateral trade of physical electricity and gas within Europe and now collaborates with 23 key power companies. What does this mean for the future of Energy trading? Will blockchain make it easier and economical for numerous distributed energy resources to participate freely in the grid?
European energy market is witnessing a paradox of sorts. The curious case of a disconnect between decreasing renewable energy prices and the wholesale electricity market that shows a steady uptick at €21.6 per 100 kWh, according to Eurostat.