Local energy market project to help reduce costs and carbon emissions
An innovative project which will help reduce carbon emissions and energy costs, by increasing the use of local renewable energy, starts this month. The Local Energy Market in Devon and Exeter (LEMDEx) project is grant-supported by the Department for Business, Energy & Industrial Strategy through the Prospering from the Energy Revolution Programme. It will be […]
Worth its weight in carbon
Here’s more news from our trial of a liberated market for electrical power on the island of Iona, with our partner Scene. Over the past quarter-year, our Real Time Trading Platform has been facilitating energy trading, in real time, for thirty homes. Each of them has had a smart agent negotiating for it within the […]
Cutting Sark?
BBC reported yesterday that the island of Sark would lose its electricity supply at the end of November, because Sark Electricity Limited (SEL) says that it can’t afford to generate power at the 52p/kWh price cap that the local regulator has imposed. The generation is diesel-powered, and shipping diesel to the island is costly. There’s […]
Energy trading, as if people mattered
Swanbarton’s radical re-imagining of electricity trading has become reality on the Hebridean island of Iona. Thirty homes are taking part in a trial led by Scene Connect and Swanbarton. Using real time consumption data gathered by Scene Connect, Swanbarton’s Real Time Trading Platform provides each home with a smart agent to negotiate electricity prices on its behalf, in real time.
The next monster child of the Welfare State?
At the Community Energy Markets Conference the other week, several delegates picked up on Professor Furong Li’s remark that future energy markets are likely to offer tiered prices reflecting tiers of quality of supply. For example, a price for locally generated electricity may be low, but the reliability of generation will be low as well. […]
New Market Models for Community Energy Conference
Developing the Technology and Market Models for Local Energy Markets Thursday 29th January 2015 Community and Localised energy supply can benefit consumers, small generators and network operators. However, in order to implement this new, efficient energy supply, communities need a new market model. This conference discussed the role, technology and development of local energy markets. […]
Community energy ice cream
Community energy, just like ice cream, seems nice to everyone, but it comes in a number of flavours. Some people have their own favourite flavour, but some just don’t seem to care. The Rt Hon Ed Davey recently blessed the ice cream counter that is community energy, declaring that he was a big fan, and […]
UK Financial Conduct Authority nudges community groups towards LEMs
UK Government says it’s keen to encourage localisation, including localising the provision of energy. The Government said, in its Community Energy Strategy of April 2014, that it sees a strong role for communities in helping the UK to meet energy and climate change challenges. The Government’s modifications to its incentive regimen (feed-in-tariffs and renewable heat […]
EXSTORM results update: prices tracking abundance
EXSTORM’s discrete-event simulation work continues to illuminate the behaviour of Local Energy Markets (LEMs), and of how free peer-to-peer markets (with energy prices set mutually between households or small businesses, in real time) work with different kinds of trading heuristic. Here we have a view of a day’s trading in a LEM, with posted-price trading […]
Early EXSTORM results: performance of Generalized Derivative Follower price setting
The EXSTORM project is starting to deliver results. We’ve been running full-scale in silico simulations of local energy market trading, and testing the viability of different trading heuristics. For example, we’ve put a good deal of work into the possibilities of posted-price trading, and the various heuristics for setting offer-to-sell prices and buy-limit prices. We […]