The GPX Solution for Trading Renewable Electricity

Today’s method for purchasing power at a wholesale and consumer level is inefficient and outdated. Black-box auctions, complex legal structures and excessive intermediaries have led to the stagnation of an already bloated and sluggish process.

Enter GPX… the Green Power Exchange is a platform to trade and forward trade renewable energy. Backed by real energy assets, it is an efficient and up-to-date market place for renewable energy producers and consumers to buy and sell electricity.

So how does it work?
In order to create a simple and effective instrument for energy providers and consumers, GPX employs a two-level token model:

• The Green Energy Transfer Token (GET) will be a utility token representing the power that is to be transmitted between the producer and consumer. It is an energy-specific currency.
• The Green Power Exchange Token (GPX) will serve a variety of functions, however, its main function will be to facilitate the purchase of GET and to act as a means of exchange between jurisdictions.

The GPX platform issues GET tokens, which represent a specific amount of electricity offered by the producer, and lists these GET tokens for purchase. A potential clean energy consumer purchases GET tokens on the Green Power Exchange platform giving them the right to purchase the corresponding amount of electricity from a particular provider within a contractually specified period of time.

In order to purchase GET, consumers will use either GPX tokens, Ethereum or the local fiat currency. All GET purchases are made using the GPX token; however ETH and fiat currencies have their own behind-the-scenes payment gateway that will seamlessly facilitate this exchange. If power is to be bought and sold in a streamlined global way, there must be a common accepted means of payment but there must also be a means to exchange all other fiat currencies across jurisdictions. Energy cannot be traded between unconnected grids, as such, GPX facilitates this exchange by becoming “the coin of the realm”.

Currently electricity is brought to market either via some form of merchant power market, or a long term Power Purchase Agreement and then through the local utility/distribution company or energy marketer and finally to the end consumer. Every player in this process marks up the power and takes a cut delivering a final product that can, at times, be double what it is worth. GPX will remove the unnecessary middlemen. Through the platform, producers can market their power directly to the consumer. Through the use of smart contracts, the terms will be laid out in a transparent and easy to understand way, and once agreed upon they will be hard-coded and automatic.

This means that anyone can participate in the power market, not just large power companies who have exclusive access to energy trading platforms. While big companies may drive a large portion of the trading volume, GPX will be designed with the individual in mind, so that consumers can independently purchase their electricity from the source of their choosing.

About GPX HOLDINGS LTD
The Green Power Exchange is a peer-to-peer power-trading platform striving to remove the middlemen in power-trading. Using blockchain technology, IoT integration and a user-friendly interface, the GPX platform represents a radical departure from current opaque and antiquated energy trading practices. GPX will enable an inclusive approach to power trading by directly connecting the producer and consumer. For more information, visit our website Green Power Exchange.