Digital solutions could revolutionize energy trading if they were adopted more widely across the market.
That was the message delivered today at European Utility Week in Vienna.
At a packed session focusing on energy markets, Marius Buchmann, research associate at Jacobs University, said that the rate of utilities investing in digital energy trading solutions was still low ” and significantly lower than the spend of digital technologies for assets.
This message was echoed by Andre Jager, senior vice-president of Product Management at ION Group, who said that with between 10,000 and 30,000 European energy trades being conducted a day, and over 4000 per hour, “you are flying blind if you don’t have data available”.
Jager explained that the future energy trading IT landscape will be “scaleable and future proven, fast, and have easy data distribution and integration.”
And Gordon Thompson of Innogy Innovation Hub, said that a further game-changer would be the introduction of blockchain to energy trading, which he said would enable a shift not just from business-to-business to one of peer-to-peer, but from there on to a machine-to-machine model.