Japan’s Electric Power Exchange (JEPX) joins the Energy Web ecosystem as a member and validator
Zug, Switzerland — 8 November 2022 — Today, Energy Web announced that Japan’s Electricity Power Exchange (JEPX) has joined as Energy Web’s newest member. JEPX has been tasked by the Japanese government to operate a new Non-Fossil Fuel Certificate (NFFC) market, and it is keen to explore the potential of utilizing blockchain technologies to support the market’s operation.
“JEPX plans to track all non-fossil certificates in one to two years, and by using blockchain technology, all non-fossil certificates traded on the non-fossil value trading market will be attached with granular attributes such as generation type and location. This will simplify the process of obtaining attribute information on non-fossil certificates and encourage information disclosure as companies become more environmentally conscious’’ said Ryoichi Kunimatsu, General Manager at JEPX.
“We are thrilled to welcome Japan’s Electric Power Exchange into the Energy Web ecosystem. Recently, we have been in discussion with many market participants from across the Asia Pacific region; JEPX will be the first of many new Energy Web partners and solutions from this part of the world. In this case, Energy Web technology is a great fit for JEPX’s business requirements and their vision for the future of the Japanese renewable energy market.” added Jesse Morris, CEO of Energy Web.
The Japan Electric Power Exchange facilitates spot and forward transactions of electrical power among electric utilities in Japan. Formed as an intermediary corporation in November 2003 to create an electric power wholesale market, in 2004 it invited members for its central committee and commenced transacting in wholesale power transactions from April 1, 2005. In November 2008, JEPX also established a Green-power exchange.
About Energy Web
Energy Web is a global non-profit accelerating the clean energy transition by developing open-source technology solutions for energy systems. Our enterprise-grade solutions improve coordination across complex energy markets, unlocking the full potential of clean, distributed energy resources for businesses, grid operators, and customers. Our solutions for enterprise asset management, data exchange, and Green Proofs, our tool for registering and tracking low-carbon products, are underpinned by the Energy Web Chain, the world’s first public blockchain tailored to the energy sector. The Energy Web ecosystem comprises leading utilities, renewable energy developers, grid operators, corporate energy buyers, automotive, IoT, telecommunications leaders, and more.