5/4/2023 0 Comments Omnipresence definitionThe value of having a phone in the early 1900s was very low, because very few people had a phone. Salvatore: It’s nothing different than what happened in the early 20 th century, when the phone and the telecom industry were really at their beginnings. Market access is paramount and scale and the resulting transactional efficiency are what we’re aiming to achieve. All this is enabled by giving the platform/aggregator access to the customers’ distributed energy resources and then selling bulk power and related services to the grid operators.ĭarragh: The key concept around platforms is the network effect, which is a phenomenon whereby increased numbers of people or participants improve the value of a good or service. In the new decentralised markets, customers take a proactive role by generating their own electricity and selling/trading it into the market: this is what we call a prosumer, a producer/consumer. In the old world of centralised electricity markets, utilities were both generators and distributors as well as sellers/traders of electricity. A digital platform addresses those needs, but it also targets power generators, the owners of the distributed energy resources, by adding value to their distributed assets. Grid operators and owners have the challenging task of balancing supply and demand of electricity on the grid in real time by removing any bottlenecks and imbalances. The purpose of a digital platform is to aggregate all these resources, build up scale and thus be able to provide and sell services to the electricity grid. Moreover, wind and solar renewable energy sources feature intermittent energy generation because they depend on the sun and the wind to generate electricity. Smaller distributed/decentralised energy resources like batteries of electric vehicles or rooftop solar PV cannot provide services to the grid on their own because of their tiny size. This is a totally new business model for the industry, so new that it’s not even regulated yet. A digital energy platform, which is a software/hardware system, encompasses all of these by matching the supply and the demand of electricity via the aggregation of so-called distributed energy resources to provide services to the electricity grid. Salvatore: The energy industry is currently being turned upside down by the so-called three Ds: decarbonisation, decentralisation and digitalisation. It matches potential buyers of a service or a product with providers of that service or product. What is a digital marketplace?ĭarragh: A digital marketplace is a platform creating a venue for both buyers and sellers to transact over a product or a service. We asked Darragh Mac Neill and Salvatore Scagliarini, senior industry experts at the European Investment Bank who are at work to develop this sector. Europe aims to take a bigger role in this area of business by setting up its own digital marketplaces.īut what are digital marketplaces and how do they work. Digital marketplaces, such as or, are expanding to new markets in industries such as energy or freight forwarding.
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