As more and more renewable energy comes onto the grid, energy traders, utilities, and power-generating companies have to grapple with a much more complex electricity market.
According to Microgrid media, it will be the first full-scale trial of a blockchain-based system in an energy market.
GE’s applications aren’t the only way energy traders are trying to shave market friction off transactions.
The Predix-based software is supposed to give energy traders “real-time machine and operations data” on how any particular power plant is working.
Energy traders are a less visible part of the market compared to retail and wholesale power suppliers.
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Europe energy markets feel the pinch as Qatar row steps up
European energy markets started to feel the impact of the escalating diplomatic row in the Middle East after natural gas prices soared when tankers full of Qatari fuel abruptly changed course, reported Bloomberg.
European gas traders count on Qatar, the region’s biggest LNG supplier, to help refill storage sites depleted after the key winter heating season.
The LNG tankers, the Zarga and Al Mafyar, turned around off the coast of Yemen, according to ship-tracking data on Bloomberg.
If the ships stay east of Suez, that would mean more Qatari gas left in the Pacific basin, pressuring Asian LNG spot prices and supporting European hub prices, he said.
The vessels may be sailing around Africa to Europe to avoid the Suez Canal, the Paris-based cargo-tracking company Kpler SAS, wqs quoted as saying in the report.
collected by :Dicson Walt