N-SIDE, a Belgian scale-up providing software and services for leading energy players to solve complex issues through better decision-making, and Japan Electric Power Exchange (JEPX), the only power exchange that facilitates the trading of electricity in Japan, jointly announced their collaboration last June. N-SIDE will provide JEPX with an algorithm to set the day-ahead electricity market prices and executed volumes in Japan. The integration of N-SIDE’s Power Matching Algorithm into JEPX’s systems will contribute to a more efficient and sustainable electricity market in Japan. The algorithm will optimize supply and demand matching in a closed-gate auction fashion, ease the implementation of complex bid types, and accommodate a large number of market participants. Ultimately, it will support the sustainable growth of the electricity market and contribute to carbon neutrality in the land of the rising sun.
Philippe Chevalier, CEO at N-SIDE, expresses his enthusiasm for the unprecedented collaboration, stating, “We are delighted to partner with Japan Electric Power Exchange and to bring our power matching algorithm to the Japanese electricity market. We believe that our collaboration will drive positive change and help shape the future of the Japanese electricity sector. Moreover, this partnership marks our entry into the Japanese market, with a new office in Tokyo, and demonstrates our commitment to pursue our international expansion”. “N-SIDE's industry expertise and cutting-edge power matching algorithm provide us with the assets to nurture our vision to foster a dynamic and efficient electricity market in Japan. By seamlessly integrating their powerful algorithm into our platform, we aim to empower market participants with the exchange system that contributes to improving market fluidity and to achieving a more sustainable energy landscape”, comments Satoshi Anzaki, IT System Engineer at JEPX. The partnership between N-SIDE and JEPX represents a significant step forward in the optimization of Japan's day-ahead electricity market. It combines N-SIDE's innovative solutions with JEPX's extensive market knowledge and expertise, creating a formidable force that will reshape the electricity trading system in Japan to help the energy field speed up the integration of renewable energy sources. (Abstract from N-side press release)
Source: Embassy of Belgium in Japan
Published: October 2023