Icebreaker One to build on proven data-sharing approaches to address energy data
London (United Kingdom), 16 September 2020 — Icebreaker One has embarked on phase 2 of the Innovate UK-funded project, Modernising Energy Data Access (MEDA). The project aims to address access to Shared Data across and between energy organisations and stakeholders.
For this second phase, Icebreaker One will develop a prototype Open Energy Standard in collaboration with industry and regulators, including a prototype Data Infrastructure Governance Platform. The approach will enable a common policy, legal, operational and technical framework for interoperability and data sharing.
Set to be delivered in December 2020, and funded via Innovate UK, as part of UK Research and Innovation (SBRI) and EIT Climate-KIC, Icebreaker One will apply the principles and practices of Open Banking (a regulated way to give companies access to financial data) to energy to lay the foundation for a robust data infrastructure for the sector.
Gavin Starks, Founder, commented:
“Modernising energy data access means both understanding and responding to the fact that every asset, system, organisation and network in energy (and beyond) will be producers and consumers of data. The Open Banking movement has shown how a sector can transform at a global scale when it reimagines data access and data infrastructure. We believe that the same principle can be translated to the energy sector and help us drive towards net-zero.
The complexity of balancing our energy supply and demand is increasing and will only continue to grow. Systems are not only being digitised, they are becoming data-driven. There is scope for a federated, decentralised and distributed approach whereby all actors in the UK energy sector will agree to the data sharing rules of the market.”
Miles Cheetham, Data Infrastructure Lead, commented:
“As the energy market decentralises and adopts digitisation, creating a modern energy data infrastructure will be a hugely powerful tool in the drive towards decarbonisation. We have seen how Open Banking has been the catalyst for a wave of innovation that has helped to make the UK a world leader in Fintech, bringing very significant economic and societal benefits to that sector. In the same way, Open Energy will enable the entrepreneurial and organisational creativity needed to drive efficiency, reveal new commercial opportunities, benefit consumers and above all, drive more rapidly to net-zero.”
This programme is part of Icebreaker One’s Energy Cluster, exploring systemic shifts in principles, practices and culture that can provide better access to Shared Data (ref: https://icebreakerone.org/what-is-shared-data).
This project aims to pave the way for the future of access to energy data by enabling energy network and market stakeholders to share data robustly, legally and securely and driving the use and adoption of common standards across the energy sector.
Central to the success of this phase will be collaboration with UK energy sector leaders across the public and private sectors as Icebreaker One is keen to ensure the outcome of the project meets the needs of all leaders and stakeholders across the energy ecosystem.
Over the coming weeks it will be hosting focussed advisory groups to better understand user and societal needs, policy and legal issues and operational and technical requirements.
Notes to Editors
Find more information about Modernising Energy Data Access (MEDA) here.
About Icebreaker One
Icebreaker One is exploring how to rapidly evolve our financial and energy systems to embed net-zero into all investment in a manner that is demonstrable, provable and uses data to hold organisations to account. Its flagship projects include: Project Cygnus, Open Energy and SERI.
Project Cygnus is exploring how COVID economic recovery can be directed to drive net-zero behaviours at city and regional-levels across Europe. Open Energy is a public-private initiative modernising data sharing across the entire energy grid to deliver a net-zero, decentralised energy future. SERI is helping the insurance sector be a lever of change by developing Climate-Ready products: ensuring that net-zero solutions are protected and incentivised (e.g. some insurers won’t insure EV) as well as driving change so net-destructive industries are no longer financially viable.
Icebreaker One is a non-profit, non-partisan organisation funded by EIT Climate-KIC, Innovate UK as part of UK Research and Innovation (SBRI) and private sector members.
Open Banking – Open Banking is the secure way to give providers access to financial data. It unlocks the open market for banking services in the digital age.
It gives rights to customers and gives them control over their own banking data. It helps banks share data in a way that is both compatible with the way the web works, and protects consumers in a way that they expect from a bank, and enables them to better interact with third-party services.
Anne Edimo,email@example.com , +44 7470 213 105