Market and pricing

The price for electricity on our market is determined by supply and demand. Direct interaction between users via the blockchain allows them to actively influence prices rather than accept tariffs defined by a utility company. However, several decisions about the market design need to be made carefully as they can influence market outcomes and efficiency: Is the market being cleared continuously or cleared at discrete points in time? Should participants be actively involved in the pricing or will it be determined automatically by algorithms? How do prices develop within the local market, depending on the availability of solar energy and on the consumption patterns? 

Market design
In addition to pricing, there are additional aspects that are affected by the market mechanism. Depending on that mechanism, there are different incentives for consumer behavior and price offers. Here, we examine different research questions relevant to the objective of the entire project, such as, Is local electricity preferred, even if it becomes more expensive than gray electricity, or do consumers always prefer the most inexpensive electricity? Which criteria determine the distribution of local electricity among consumers? How can batteries be included in the market and to whom should they belong?

Responsible party:
Bits to Energy Lab, ETH

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