Energy Working Group
Purpose
Due to the threat of climate change, the global energy sector is under increasing pressure to evolve and modernize at a rapid pace and on an uncommonly large scale. To comply with the public demands and requirements for change and modernization, the energy sector will have to: Digitize, Decentralize, Decarbonize.
The Energy Working Group believes these goals can be achieved if the energy sector can realize its own, specific version of the so-called Internet of Things.” Such an “Energy Internet” will require automatized communication between stakeholders and devices. For this to happen, we need harmonized and interoperable standards, for example, where network codes are concerned. Furthermore, we require trusted data origins in order to guarentee a resilient and trustworthy foundation for automatized communication. All these needs can be met by Distributed Ledger Technology.
Objectives for 2021
The WG has selected four objectives around which it will carry out its annual work. The four objectives develop on different levels of: analysis, creation, sharing and strengthening. The Working Group aims to:
• Analyse the DLT energy ecosystem
• Develop DLT in energy community standards and defining requirements
• Increase knowledge on and acceptance of DLT and provide a platform for discussion
• Foster community consensus on standards, conformity and security
Outputs for 2021
The Working Group engages in a number of activities aimed at achieving the above mentioned objectives. After finalising their initial position paper, they are working to create a second position paper.
The Working Group invites guest speakers to each of its meetings to present their projects and activities to meeting attendees.
Why is it essential?
The transformation of the energy sector is a global challenge, with universal characteristics. It is, therefore, paramount to develop solutions in an international and collaborative setting in order to avoid redundant developments and minimize failures. Due to the time-sensitive nature of energy transition and climate change, resource efficiency should be a key factor in decision making. An Energy WG at INATBA can serve as a global platform for information exchange, standardization and harmonization that will help accelerate the development and acceptance of solutions.
