The energy data exchange re.alto has been launched to accelerate digitalisation in Europe’s energy sector.
re.alto, a corporate startup from Belgium’s Elia Group, is aimed to bring together providers and users from across the energy sector to make data easy to access and integrate.
The marketplace utilises standardised energy APIs (Application Programming Interfaces) in order to reduce the cost of data acquisition and thereby accelerate digital transformation in the sector.
For organisations with data and digital products to offer, the platform provides a new sales channel to monetise their APIs to new markets and generate new revenue stream opportunities.
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For businesses that want to buy and integrate third-party data, the marketplace offers a range of digital tools to streamline the API exchange process and bring down the cost of data acquisition.
“Harnessing the power of external data should be a key objective in any digital strategy of an energy company looking to scale,” says Alexandre Torreele, CEO of re.alto. “Data connectivity enables innovation on a level previously unachievable in energy as well as the creation of new customer-centric business models. It is a powerful driver of growth in a sustainable energy sector.”
A white paper from re.alto states the two key barriers to digitalisation in the energy sector include its relative immaturity in realising the potential value from data and the costs associated with data acquisition along with issues with integrating the data streams with legacy IT systems.
re.alto, with its standardised data transfer approach in the form of web-based RESTful APIs – said to be a first for a data and services marketplace in the sector in Europe – is designed to overcome these with the operational and cost efficiencies they bring.
The re.alto marketplace has attracted significant interest from companies across the energy value chain and already features a wide range of energy-related API products from industry-leading providers, according to the organisation in a statement.
Example use-cases for APIs currently on the platform include spot market pricing, forward market pricing, energy monitoring, smart charging for electric vehicles, smart meter data, wind SCADA data, energy communities and boost charging-as-a-service.