Senoko Energy co-launches pilot renewable trading platform

The platform offers dynamic pricing for the users’ green electricity rates.

Singapore's Senoko Energy has launched a pilot project to introduce peer-to-peer (P2P) trading of renewable energy in collaboration with ELECTRIFY and ENGIE Factory, the venture arm of France-based utility ENGIE, according to a press release.

Sponsored by ENGIE Factory, the initiative offers households and businesses to register for ELECTRIFY's P2P trading platform through Senoko Energy's SolarShare service, where producers and consumers can trade locally-produced solar energy. Registered users will also benefit from the dynamic pricing of their green electricity rates.

This pilot project will be available to new and existing Senoko Energy customers, limited initially to 100 participants. They aim to test the potential for commercialisation of this new energy offering, with the ultimate goal of rolling it out to all households and businesses in Singapore.

ELECTRIFY's platform will use real-time data at 30-minute intervals to enable comparisons between the amount of energy supplied, the market demand and the prices offered. Both residential and commercial users will be able to log onto the energy trading platform to view the available solar producers and choose whom to buy from based on their energy usage.

The energy demand during non-daylight hours will continue to be met by Senoko Energy. Customers who choose to purchase green energy from the P2P platform will receive a consolidated bill from Senoko Energy at the end of the month.