Joe McDonald, Co-founder & CEO at tem | Slush 2025
summary
tem builds an automated transaction layer for electricity using machine learning and operational research and a new probabilistic pricing engine to displace human traders and back‑office intermediaries. Claims include cutting the ~30% transaction markup on bills, delivering 20–30% savings to customers, and proving the approach with a neo‑utility product Red that serves ~3,000 businesses and has processed about half a billion in transaction revenue in 15 months (under 1% UK market). First incumbent utility transacts on the platform after 14 months, aiming to unlock trillions in redistributed value.
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chapters (7)
- 0:00Welcome and energy crisis
- 1:05Global energy transition challenges
- 3:11Broken wholesale market system
- 4:58Personal motivation for change
- 6:45Building a neo utility
- 8:12Proving the transaction model
- 9:37Future of energy markets
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