Energy markets run on PDFs and XML. We think they should run on signed receipts.
We are a small team. We do not assume the people who built PJM, CAISO, ERCOT, or the EU Network Code would not. What we noticed is that every market message in your stack — from a 5-minute regulation bid to a capacity-performance test — is still trusted as a PDF or an XML envelope on a TLS pipe. The court-grade evidentiary chain is reconstructed after the fact. We think the chain should be the message itself.
One signed receipt per market action.
The four primitives below are the entire bearer surface. Capacity, delivered energy, ancillary services, and demand flexibility. Each is a canonical JSON body, JCS-canonicalized under RFC 8785, SHA-256 hashed, Ed25519 signed end-to-end, with explicit parent references. The ISO verifies in a browser. The IPP holds the same artifact. The aggregator counter-signs. The auditor reads the chain five years later without calling us.
Standard Energy Unit.
Power · Capacity
One kilowatt of qualified capacity over a commitment period. Backed by a signed capacity certificate with measurement window and test methodology referenced.
Standard Megawatt Unit.
Megawatt-Hour · Delivered
One MWh of dispatched and meter-verified energy delivery. Pairs a dispatch receipt with a revenue-grade meter-data receipt. Court-grade evidentiary chain.
Standard Ancillary Unit.
Ancillary · ISO Market
One MW of regulation, spinning reserve, non-spin, ramping, or frequency response. Replaces XML market messages with a signed bid receipt the ISO can verify offline.
Standard Flexibility Unit.
Flex · Virtual Power Plant
One kilowatt-hour of forward demand-flex obligation. Atomic unit of VPP and DR market participation. ISO counter-signs; curtailment chains to dispatch with parent_ref.
Four rooms. Same receipt.
If you sit in one of the rooms below and the question lands on your desk, this page is for you. The receipt is the same in all four. The angle changes because the room changes.
Chief engineers, market operators.
A bid receipt the dispatch desk can verify offline. Replaces trust-of-pipe with trust-of-signature without touching the market clearing engine.
CFOs, treasurers, settlement leads.
One artifact that proves capacity was qualified, energy was delivered, and ancillary was provided. The settlement re-run is a verifier pass, not a forensic month.
CEOs, FERC counsel, dispatch ops.
FERC 2222 settlement is a chain of signed flex receipts from DER asset to aggregator to ISO. The aggregator XML stops being the only evidence of record.
CTOs, regulatory affairs, NERC compliance.
Capacity, delivered energy, and demand flex all carry the same receipt format. NERC CIP-013 alignment, CAISO 2026 capacity reform, PJM dispatchability rules — one evidentiary surface across all of them.
We do not propose to replace anything.
One signed receipt per market action that the ISO can verify offline.
Your market clearing, your scheduling, your tariffs — untouched. The ISO market participant gateway still receives bids. The settlement system still produces invoices. The OASIS posting still happens. What changes is that the message under each of those actions is canonical, signed, and verifiable end-to-end without a callback to a server we control.
We do not sit in the dispatch path. We do not custody the energy. We do not route the schedule. We issue the receipt the issuer was going to issue anyway, in a form the counterparty can verify in a browser, with no callout to Hive at verify time. If that property does not hold up to your team's scrutiny, we have not earned the conversation.
Two pages. Different depths.
Same primitive. Different rooms.
Energy is one room among several where the same signed-receipt primitive shows up. Each of the sites below is the same idea applied to a different evidentiary surface.