A functional peer-to-peer energy trading platform with full track and trace capabilities.

Tymlez can promise to revolutionise the global energy market because it has already deployed the solution. Called ourEnergy, it is one of the world’s first peer-to-peer energy trading platforms with full track and trace capabilities backed by blockchain technology.

The result of a project that began in 2017, ourEnergy makes it possible for consumers, prosumers and other energy producers to trade directly with one another. For participants, the experience is elegantly simple: buyers set out their preferences for the type of energy they wish to buy and are automatically matched to sellers. In practice, there is very little difference to the experience of buying power from an intermediary.

Behind the scenes, the Tymlez solution automates the exchange and tracks energy consumption via smart meters. Smart contracts are produced when supplier and consumers are matched. Stored on the blockchain, this transparent system provides a guarantee that payment has been made and that the power source is genuinely matched to the consumer’s choice – ie: solar-generated power has been supplied from a solar source.

Of course, once generated, electrons cannot be differentiated from one another no matter which way they were initially generated: power from a coal plant is the same as that from a wind farm, for instance. Consumers don’t actually receive power from a specific source, rather their preferences support the generation of that power and its inclusion on the entire grid.

Tymlez’ ourEnergy solution monitors the entire grid through smart devices. Prediction and optimisation algorithms ensure the grid remains stable and that market is fairly priced, while also making decisions about when to draw energy from storage devices to meet demand. our energy creates an extremely sophisticated ecosystem, but ensures the experience is elegantly simple for its participants.

Consumers join a so-called ‘Local Energy Community’ (LEC) which runs on blockchain technology where they can trade energy. This LEC can be the neighbourhood, a business district or a family that has members all over the country.

This LEC can buy energy directly from sources such as wind farms, power plants, prosumers or another LEC.

Each LEC can also trade their own generated or stored energy with one another. Such trades can take place across borders, and mean that ourEnergy has the potential to create a truly global peer-to-peer energy market.