Buyers and sellers are surprised, when they get the opportunity, to set the price of electricity, says co-founder and director of Ljubljana's SunContract Gregor Novak.
In the last few weeks, you have been introduced to the European Commission, the UN, and elsewhere. What do you expect from such performances?
"The performances were very positive. In conversation with the Vice-President of the European Commission, Šefčovič, we saw that the future European legislation fully supports our idea. This was a confirmation that we are heading in the right direction. At the United Nations, we have introduced SunContract globally. The response was extremely good and immediate. We are in talks for cooperation with one of the African countries, the response was from Latin America, we also have contacts in Asia. SunContract wants to be a global platform and start at least in one country on every continent. So far we have opened the way to all continents, except Australia. We want to show our opportunities globally and to clarify that in Slovenia the platform is already working. Everyone is surprised over this."
"Last week, we opened an Eurasian blockchain hub in Kuala Lumpur. The European blockchain hub, based in Ljubljana, was connected to the Asian hub, which was established on Saturday. In this node, we are responsible for energy. We received immediate responses from China, Malaysia and Japan. They want to participate and test our service. First, we will look at the legislative options for implementing such a service in these countries."
You launched trading on the SunContract platform in April. What are the experiences?
We have enabled anyone in Slovenia to join the SunContract balance group and use this service. People are fascinated when they see that they can determine the price of electricity themselves. We also have annual contracts for production and higher economic consumption and also some actions. Most of the contracts are concluded for the first of January 2019."
"We want to be a market where producers and customers themselves agree on the price of electricity. Manufacturers are fantastically enthusiastic. We have a model or service that currently has no competition."
"Can energy battery storage be included in the platform's operation?
Of course. Feeders or batteries have already entered the game. We expect a bigger energy storage, it will probably be the first in Slovenia. The power will be half megawatts, while the capacity will be one megawatt hour and will be the largest in the region. The battery storage is already ordered. We see the battery storages as an integral part of the electricity network and also of our partners who will participate in this. We want to do this - I think that we will be the first one - the balance group, that will be supported by the savings banks and will be self-sufficient in balance. This reservoir will be our pilot task, once we try it, we will probably continue with about ten megawatts.
When will the storage be installed?
Early next year. It was ordered by the company Sonce. We are waiting for a supply.
What will be the depository role?
The storage will act as a manufacturer or consumer in the platform. His first task will be to balance the balance group and reduce the cost of deviations. This will further improve the competitiveness of the market. This means that our users will be able to offer each other as competitive a price as possible, which will not be debited with deviations. Then all the other savings services that we can sell on the energy market come in.
When did you decide to buy a battery storage?
Long a go. It takes more than a year, to delivier storage. I can not reveal the names of the supplier yet, it will be pompous and revolutionary when it is known."
How do you see the development of the electricity market?
Globally, major changes are taking place in the energy sector. From a highly regulated area, they are slowly entering into a more marketable activity. In the long term, the price of electricity will fall. Currently, global trends show that in the next few years the classic model of electricity will run out, so it will be important to sell related services, for example, e-mobility, flexibility, system services and more. That's why we set ourselves in this direction. In such services, a value is added.
Short translation of interview on finance.