Belgian technology company N-SIDE is providing an algorithm to the Japan Electric Power Exchange (JPEX) which will help determine Japanese electricity prices, both organisations announced on Thursday.
The company, located in the city of Louvain-La-Neuve, stated that it will help "make the electricity market in Japan more efficient and sustainable."
N-SIDE claimed that their algorithm will match the supply and demand for electricity just as an auction would. It aims to implement complex auction methods on the JPEX market, which in turn should accommodate a large number of market players.
The collaboration will make Japan the second foreign nation to use N-SIDE's algorithm; two of India's largest electricity exchanges have used it for the past two years.
