provide short summaries of work published by ESRI researchers and overviews of thematic areas covered by ESRI programmes of research. Bulletins are designed to be easily accessible to a wide readership.

This letter proposes a novel demurrage mechanism for blockchain electricity marketplaces, whereby the redemptive value of energy-backed tokens declines with time. This mechanism is intended to reward organic price-responsive load shifting by incentivising the consumption of electricity when it is locally abundant. To demonstrate how such a demurrage mechanism might function in practice, this letter describes a mixed complementarity model of a notional token marketplace. These market simulations indicate that, in equilibrium and with rational actors, the demurrage mechanism creates price signals that temporally align the production and consumption of electricity.

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