A new, game-changing energy trading platform is addressing Australia’s energy future, according to Energy Networks Australia.
Following its official launch, the ARENA-funded deX platform is set to offer customers reliable, safe and affordable electricity into the future.
The platform is a decentralised energy exchange, or digital marketplace, changing the way electricity is produced, used, stored and traded.
Energy software company GreenSynch created the platform as a way for customers, communities and utilities to trade energy.
Using smart, connected devices, deX allows homes and businesses to store, control and generate energy.
Australian energy companies using deX constitute a ‘smart grid’, which ensures back-up supply in times of peak demand.
Energy trading platform harnesses new technology
According to Energy Networks Australia Interim CEO Andrew Dillon, innovative solutions are needed to address Australia’s energy challenges.
He said by harnessing new technology, we can transform the possibilities of the Australian energy system.
“Networks could use these types of platforms to pay for the use of household solar and storage as an alternative to building poles and wires.”
The software also gives networks greater visibility of distributed energy resources.
A nationwide energy trading movement
Energy Networks Australia is one of 37 energy industry partners supporting the deX initiative.
These include electricity retailers, utility networks, technology vendors and industry associations.
Work is also currently underway on multiple projects within the scheme.
The Australian Renewable Energy Agency (ARENA) announced funding for deX in February 2017, following its initial development.
As anticipated, energy providers can control the flow of electricity via demand response or demand management to boost energy efficiency.
Stable supply is therefore ensured during times of surging demand.
According to Mr Dillon, this will help avoid a repeat of summer blackouts and also give providers greater control over network supply.
In future, the deX framework should also increase customer value, improve system reliability and manage the transition to a renewable energy future.
See Energy Matters’ guide to peer to peer (p2p) solar energy trading.