New Upgrade of P2P Energy Trading Features
Trading between strangers now possible
We are delighted to announce that in 2019, the SunContract peer-to-peer energy trading marketplace will become fully functional. Up until now, the SunContract platform allowed our customers only a limited type of P2P arrangement where the traders of electricity needed to know each other before they could enter an agreement to trade electricity. This changes soon. Going forward, the platform will allow for peer-to-peer energy trading between anyone and everyone registered on the platform.
Consumers will be able to identify producers whose energy selling price is similar to their willingness to pay. If a mutual price is agreed upon, they will then be able to trade with one another.
Producers who register on the platform will be guaranteed payment from consumers on the platform. As soon as a consumer’s funds fall below minimum level, they will receive a warning notification. Before the consumer’s funds run out, the procedure of disconnecting them will begin, allowing the producer the option to switch to another consumer. Anyone will be able to enter an agreement with anyone, regardless of whether they know each other or not, as long as they meet the minimum requirements for peer-to-peer trading of energy which include:
· Level 0: Signing up on the SunContract platform
· Level 1: Sign contract with SunContract partner for electricity delivery via the platform
· Level 2: Depositing a minimum SNC balance (currently 1000 SNC)
What will users gain with it?
Users will have access to an easy to use interface with classical exchange-like functions. Since the trading experience will be a bit similar to that on exchanges when buying SNCs, the transition won’t be too steep of a learning curve. Our support team will also be working very hard to help each and every customer understand exactly how to use the new user interface.
A fully functional energy market will bring even more transparency over price negotiations, enabling our customers, both producers and consumers, to maximize their welfare. At SunContract, we firmly believe in an open energy market where consumers and producers can freely decide what the best price is for them.
A fully functional platform brings us one step closer to a greener amore sustainable society which is a part of our vision.
How it is going to work?
Within the next few weeks, SunContract platform users will have an updated user interface on their personal profile with the new tab called “Trading”. You will be able to access it only after you joined the balance group. (All of the producers and consumers have to be on the SNC balance group.) If SunContract is not yet present in your country than this feature will not be opened for now.
With many exciting projects in our pipeline for 2019, we encourage you to stay tuned by signing up to our newsletter here. Not a member of the platform yet? Get saving or increase your profit today!
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