Understanding and Connecting Smart Meters, Smart Grids, and Smart Markets.
- Lynne Kiesling
June 17th, 2014
Via Waterfind, an interesting innovation in Australia that further develop a real-time “smart” market for water:
Envisioned primarily as a market mechanism to enablesclients to remove water market uncertainty and plan for future irrigation requirements, the ‘Waterfind Forward Water Market’ is an extension of the current spot market, enabling the contracting of temporary or permanent water parcels at a set price to be delivered at a future date.
The launch of this market has been made possible by regulation changes announced today by Minister Birmingham. These changes provide the legal basis to conduct forward water trades and ensure that no one conducting these trades is in breach of the Corporations Act.
By utilising Waterfind’s Forward Water Market, irrigators are able to:
- remove uncertainty and decrease risk in the water market
- lock in buy and/or sell prices
- secure dates for the lodgement of your water trade
- forward plan water requirements
This is the next step in the evolution of the water market :
A live forward market is now available on your Waterfind online account or through your trusted water broker. Login to your Waterfind client account, go to the Water Market tab and select forward market.
Each license you wish to trade on the Forward market will need to be approved for use by the Waterfind team. Once approved, offers to buy or sell can be added to the Forward Water Market.
Like the ‘Spot Market’ buy and sell orders for temporary or permanent markets are listed on the ‘Forward Market’ page
Place orders from the market pageAt the bottom of the Forward Water Market page a graph represents the placement of the forward orders and where the current Spot Market is tracking.Spot MarketForward buy and sell orders
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Based on decades of experience and interest in conservation, Monty Simus believes that a truly “smart” grid must be a “transactive” grid, unshackled from its current status as a so-called “natural monopoly.”
In short, an unlocked grid must adopt and harness the power of markets to incentivize individual users, linked to each other on a large scale, who change consumptive behavior in creative ways that drive efficiency and bring equity to use of the planet's finite and increasingly scarce resources.