On June 24th, the new initiative IO.Energy (Internet Of Energy) facilitated by ELIA, ORES, Fluvius, Sibelga, Resa, has organized the Ideation closing event, a first important milestone. At the end of the day, 8 projects were indeed selected to help shape the energy landscape of the future (Read the press release)
N-SIDE is proud to be part of the nominated IO.Energy (Internet Of Energy) use case CheckMyFlex, along with ORES, ELIA, Engie, NRB and Automation. The project has been designated as preferred use case, following a poll at the closing event of the ideation phase.
The project CheckMyFlex, using an implicit market mechanism, will cover the full value chain of flexibility for the power systems, from the end-customer to the distribution and transmission system operators, but also local energy communities and commercial market parties.
The main parts are:
- an application to engage the consumer to provide flexibility and incentivize him/her to invest in flexibility .
- a smart box, installed at your home, that can automatically control your devices according to your comfort level settings, based on a price signal, in order for you to get rewarded.
- Several price engines aiming at sending price signals to smart boxes, for different purposes (e.g. balancing, congestion management, auto-consumption).
In particular, N-SIDE develops, together with ELIA, the algorithms behind the smart pricing approach, using machine learning. The challenge is to constantly adapt the smart pricing algorithms based on the observed market reaction to price signals, compared to the desired reaction.
Learn more about CheckMyFlex?
Internet of Energy: a new initiative to create the Electricity system of the future!