FAQ

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  • General information

  • How to get started

  • Using the platform

1. What is SunContract?

The SunContract platform (or energy marketplace), represents a revolution in the electricity market as with its business model, it enables the decentralization of power distribution, promoting microgeneration and benefiting each and every person who participates on the platform.

 

Through the platform, individuals now have a voice in the electricity market – meaning they have a say on the price of electricity as well as being able to choose their own source of energy.

2. What are the energy sources available on the SunContract platform?

At SunContract, we exclusively offer electricity from the following sources:

 

  • Sun
  • Wind
  • Hydro
  • Cogeneration
  • Biomass
3. What are the benefits for consumers, producers and solar power plant owners?

The SunContract market offers countless opportunities and benefits for electricity consumers, electricity producers as well as self-sufficient prosumers (those who produce and consume their own energy):

Consumer benefits include:

  • The option to make direct agreements with producers for a lower electricity price
  • Access and use of renewable energy without having to invest in production infrastructure such as a solar power plant
  • An easy to use platform
  • Regular monitoring of consumption through advanced applications

Producer benefits include:

  • Possibility of direct agreement with the consumer enabling them to sell their surplus at higher prices
  • The opportunity to consume their own electricity regardless of the location of the power plant
  • Greater flexibility in selling electricity and creating your own circle of customers
  • Automated monthly invoicing and inflow to their bank account
  • Updated production overview through our monitoring platform feature

Benefits for self-sufficient prosumers:

  • Real-time access to their production and consumption data
  • Independent decision-making on the distribution of surplus electricity at the end of the year
4. Why the platform is using blockchain technology?

SunContract platform uses the blockchain for verification and execution of transactions directly between peers. This technology ensures maximum transparency of all marketplace activities, and also removes intermediaries, allowing for significant cost-savings and process efficiencies which, in this era of an inefficient energy sector, are too compelling to ignore.

 

With blockchain as the technological facilitator, the SunContract platform enables direct connection of electricity producers and consumers. This eliminates the need for intermediaries and therefore the operation fees charged by these intermediaries are removed leading to cost reductions for all involved.

5. Why is there a need for SNC token?

Blockchain technology, while a crucial infrastructure on which the SunContract platform runs, is not compatible with traditional fiat currencies. This is why transactions are settled in SNC tokens.

We wanted to make the platform as easy to use as possible, and so our customers can in fact still pay and receive EUR currency, by way of SEPA – our integrated fiat gateway that enables those who do not know anything about blockchain, to still use the platform easily.

1. What is the procedure for household and business consumers to start trading on the SunContract Marketplace?

Change energy supplier

To start trading electricity on the marketplace, you must first change your electricity supplier.

SONCE Energy Ltd., the exclusive partner of the SunContract platform, is the only company in Slovenia that offers such solution.

 

Changing your supplier and signing up on the SunContract platform is very easy. The whole process can be done online and without interruption of your electricity supply, in just a few steps:

 

  • First you register for free on the platform
  • Under the section Electricity click on tab My Meters, then you submit a request to change supplier. Within the form, under Contract type, you select your contract type, household or business
  • Based on the information received, we will prepare a contract
  • We will electronically send you the contract to your account on the SunContract platform and notify you by email
  • Once you sign the contract, you upload the signed contract back to your platform account
  • You’re all set!

 

As soon as the contract is signed, our local partner for electricity supply – SONCE Energy Ltd, will take care of everything else, from terminating your existing contract to getting you started on trading on the SunContract marketplace.

2. What is the procedure for households and business prosumers (those who produce energy for their own consumption) to start using the SunContract platform / transfer surpluses?

In order to enable transferring your surpluses to the next calendar year via SunContract, the process is similar to the one for the consumers. However, when registering on the platform, fill out the form for changing the supplier and under Contract Type select Net-metering.

3. What is the procedure for producers to start using the SunContract marketplace?

In order to sell electricity directly consumers on the SunContract marketplace, contact our consultants at [email protected].

4. How long does it take the process of changing of the supplier?

When you’ll be able to start trading on our energy marketplace depends on how quickly you send all the necessary documents. If all the correct information has been provided by the 5th of the month at the latest, you will normally be able to start trading on the 1st day of the following month.

5. Why do I have to pay minimum balance? What is the amount of the minimum balance?

The minimum balance is a requirement for each user of the SunContract platform, regardless of their status. The minimum balance will be determined by the gross value of the customer’s previous energy bill. This gross value of the invoice that is the basis for defining the minimum balance includes the following costs:

 

  • Monthly cost of delivered electricity
  • Excise duty
  • Network charge
  • Connection power and other contributions under the law, including VAT

 

You can find the amount of the security in the valid price list.

6. What is the point of the minimum balance?

The minimum balance is considered as a security measure for SunContract, in the event that a customer defaults on payment of any due obligations for the supply of electricity.

7. When is the minimum balance due?

The user is required to pay the minimum balance in EUR, together with the first invoice for electricity. The paid EUR amount for the minimum balance will then be converted to SNC tokens that will be locked on the platform.

8. What happens to the minimum balance if the user terminates their contract?

If the user decides to terminate their contract for electricity supply, the minimum balance will be returned to him. But only if all contractual obligations towards the supplier will be settled. The minimum balance will be returned in SNC tokens with the possibility of exchange in EUR at the current SNC tokens market rate.

9. Do I have to pay the minimum balance with my first invoice?

Households must settle the minimum balance with their first invoice. However, small business owners have the option to not pay the entire minimum balance in the beginning. If they register to use our energy management service, the minimum balance will be obtained from the savings that they acquire through the delegated P2P energy trading by our service providers. Once the full amount of the deposit is covered, any additional savings will then go towards reduction of the customer’s energy bills.

10. Does any equipment or infrastructure need to be installed?

Nope! In Slovenia, the DSO (distribution system operator) will provide us with usage data from your meter. Because of this, there is no need for any equipment to be installed at your home. The entire set up process is done online whenever and wherever is convenient for you!

11. What is the cost of registration and use of the platform?

There is no cost to register and use the platform.

12. Does the homeowner need to be the one registered to the platform or can this role be taken on by a tenant?

The tenant can also register on the platform. In order to register, the procedure is the same as that outlined in the Getting Started FAQ’s above. In this situation, the owner of the property needs to additionally agree with the change of supplier. The contract must then be signed by both the owner and the tenant. The invoice for electricity is paid by the one registered on the platform.

 

To ensure a smooth transition, it is recommended that the new tenant register a month before they will become responsible for paying the electricity bill. Alternatively, the owner can make arrangements with the tenant to maintain the account and settle the payment between themselves.

13. What if I later decide that peer to peer energy trading is not for me?

If you find that P2P electricity trading is not for you, you will continue to receive energy but at the price you agreed upon in the electricity supply contract, signed at the very beginning, before entering the energy market. You can find a valid contract price next to the mark of your metering point. The energy market only allows you to lower the already agreed price of electricity. You will never pay more than the contract price, which acts as a price ceiling for your utility bill.

1. How can I make deals in the marketplace?

As an electricity producer, you can make deals on the marketplace in several ways:

 

  • Via Personal Agreements made directly between you and your loved ones (friends, neighbors, family, co-workers…) where you only send the offer to known client by entering his e-mail address and electricity price in the “Personal Agreements” section
  • You can post your offer on the marketplace so that it can be accepted by any of the buyers on the platform, whether you know them or not
  • You can accept any of the existing consumer orders to enter into an individual or P2P (peer to peer) agreement
2. Must I do the P2P trading by myself or is there another option?

Our customers can definitely engage in P2P energy trading by themselves. However, we do have an option for those who are unwilling to do this, but would like to reap the benefits of the SunContract platform. By activating our Management service, a professional trader can follow activities on the marketplace and can also make P2P deals on your behalf.

 

The activation of this service is free off charge.

3. How can I sign up for this Energy Management Service?

Send us a request for the service to the e-mail address: [email protected]

 

  • We will respond to your email by sending you an annex
  • You sign the annex and send it back to us via email
  • The energy management service is activated immediately
  • Our sales team will then get in touch with you
4. Will I be able to set different prices based on time of day or week?

No, in order to keep things as simple as possible, it will not be possible to vary the price based on the time of day, or the day of the week. However, you will be able to adjust the price at any given moment you like.

5. What happens if I produce more electricity than my buyers can consume at any given moment?

The platform will purchase the whole amount of your surplus electricity produced at the price specified in the contract. This price is determined on a yearly basis and is therefore fixed.

6. How can I increase my earning power, to be more than the contract price?

Producers can increase this price by selling electricity directly to customers on the platform. In case that at one point your direct customers consume less electricity than you produce, the platform will automatically sell any excess electricity to other customers on the platform at your pre-set contract price. In any case, the electricity you produce will always be fully paid for.

7. In which currency can I receive earnings?

You receive earnings for sold electricity on the platform by default in Euros. The earnings are automatically transferred to the bank account each month on a date that is set in the contract.

8. What if I would prefer to receive my earnings in SNC tokens?

If you wish to do so, you can receive your earnings in SNC tokens as well. In this case you need to change currency preference on the platfrom. You can do this by going to the section Electricity and select the My Meters tab. Choose the contract whose preferences you would like to change.

 

Please note that you must change the form of payment for each measurement point separately. You need to edit the contract details for each measurement point.

9. Where can I find my invoices?

You can find the invoices for each month on the platform under the Profile => Billing tab. You will also receive them via email.

10. What are the monthly documents that I receive aside from the invoice?

You receive 3 different documents each month:

 

  • An electricity invoice
  • Invoice for fees for transactions performed on the platform
  • Payment Compensation receipt – actual amount paid equal to the amount of electricity sold minus the fees

 

When invoices are issued depends on when we receive officially-confirmed information from the SODO system operator. Usually within the first half of the month.

11. Where can I track my production?

You can monitor your production daily in the section Electricity, the Monitoring tab.

12. How are sales taxes handled?

The platform will automatically collect sales taxes and deliver them to the government, making the process easier for users.

13. How can I pay for electricity on the platform? Do I need SNC tokens for this?

You can make a payment using the following options:

 

  • EUR
  • SNC token
14. Why is there a need for SNC token if I can pay in EUR?

The SunContract platform uses blockchain technology to verify and execute transactions. This technology is not compatible with traditional fiat currencies and requires the use of digital currencies. Therefore, all transactions (including those executed in euros) are in the background of the platform executed in SNC tokens, which is taken care of by the technology itself.

 

Customers who want to pay in Euros are not influenced by the SNC token exchange rate fluctuations as the conversion is done on the same day for daily electricity billing.

15. How can I transfer funds to the platform?

To transfer funds to the platform, follow these steps:

 

Sign up for the platform via link https://suncontract.energy

 

  • Click on the tab Profile
  • Click on the section Funding
  • Select the option Deposit
  • Enter the amount you want to transfer (EUR) in the box and click the button Confirm

 

The transfer of funds to the platform is possible in SNC tokens or euros. You can choose which currency to make your transfer to:

 

  • Go to the section Electricity
  • Click on the tab My Meters and select the relevant contract
  • You can then edit the details, and also select the currency you wish to deposit in
16. What happens if I am buying electricity from a peer whose electricity production is interrupted?

Any consumption needs of yours that cannot be supplied by the peers with whom you have a sales agreement will automatically be fulfilled at the daily price. The platform algorithm will automatically connect buyers and sellers in this situation. We’ve got your back!

17. If I agree on a price with someone, are we locked into a fixed price for a fixed period?

As long as the offer is not closed, it has the status Open, you can withdraw it from the market at any time by selecting the Cancel option in your trading history. In this case, only the unrealized part of the bid submitted is removed from the market.

 

However, when an agreement between the buyer and seller is confirmed, and the bid has the status Closed, it cannot be changed until the expiration of the contract. Once the contract expires, you can of course change the trader.

18. What is the difference between a supplier and a distributor?

An electricity supplier is a legal entity that sells us electricity produced by a certain producer. It is therefore the supplier who determines the price of electricity. The customer can change their supplier freely regardless of the location of the measuring point.

 

The distributor is a legal entity responsible for maintaining the grid through which electricity is supplied from the producer to the final customer of electricity. A distributor is assigned for a certain area and thus cannot be changed and remains the same regardless of the supplier switching. That’s why you receive two separate electricity bills – one from the electricity supplier and another from the distributor.

19. How are the offers from the producers displayed? Are there any settings that affect the order? Can I, as a buyer, influence on how the offers are going to be displayed and how?

On the marketplace, you can arrange the offers based on electricity price, coverage, and electricity source for each measuring point and month.

20. How can I add bank account to the platform?

As a consumer you cannot add a bank account to the platform. This is only possible for the producers. You can easily transfer funds to a platform account through an online bank, a classic bank, a post office or any other appropriate payment institution.

 

Search for Profile => Funding => Deposit

21. When is information, if my power plant produced surpluses, available?

Information on potential surpluses produced is expected to be available from February, when official data on electricity produced and consumed at net-metering is known.

 

Platform users then see it under the Electricity section, the My Meters tab, under their specific contract.

22. Till when do I need to transfer my surpluses?

If you want to transfer surpluses to another measuring point, you must do so by the end of March of the current year. If you use them at the same measuring point, you do not need to do anything.

23. Who can I transfer my surpluses to?

Surpluses can be transferred to anyone (relatives, friends, acquaintances…) who are already receiving the electricity from the SunContract platform or they intend to do so.

24. How can I transfer surpluses to another measuring point?

Transferring surpluses to another measuring point is very easy.

 

At the bottom of the page My Meters is the button Transfer. With clicking on this button, a new window opens where the user can enter the recipient’s e-mail address to which they wish to donate their surpluses and the amount they wish to transfer to this measuring point.

25. Who has access to the transfer surpluses feature on the platform?

Customers under the contract type Net-metering are the only ones who have access to this feature.

26. What should I do if a user has more than one meter in the same account?

Users who have multiple meters in the same account also need not do anything. Surpluses will be distributed equally for consumption at all counters in this account.

27. Can I transfer surpluses even if I am currently at another supplier?

If your electricity supplier is not the partner of the SunContract platform, the surplus transfer is unfortunately not possible. The transfer of surpluses is currently only available with SunContract.

 

If you want to transfer your surpluses, you need to change your electricity supplier in the first step. To change, first register for free on the SunContract platform, where under the tab Electricity fill out the supplier change form. Everything else is arranged by us.

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