Power-based securities is our working category for structures linked to the availability, delivery or productive use of energy. It is not a claim that a new legal asset class already exists in every jurisdiction. A proposed structure must identify the specific right that a buyer receives and the obligation that funds it.
Capacity describes an ability to deliver or adjust power within an operating envelope. Energy describes delivery over time. Flexibility adds response time, duration, location and dispatch conditions. Monetary savings depend on the counterfactual baseline and the applicable tariff. Combining these elements without separating their units can create a misleading cash-flow model.
The Capacity and Flexibility Package begins with availability and dispatch obligations. A future contract would identify the party authorised to dispatch, the telemetry used to settle delivery, the treatment of partial performance and the penalties for non-delivery. It must also account for rebound, degradation and overlapping commitments.
Why it matters
institutional buyers need to price the obligation that survives adverse conditions. The useful test is whether the payment rule remains unambiguous when the resource is unavailable, the price changes or the data arrives late. Our current dossier sets out these test scenarios as a synthetic rights-layer study; it does not represent a live offering.
Source & context
SpaceBank: Energy Tokenization architecture
Source reviewed 2026-09-11. The implications and proposed instrument design are SpaceBank’s analysis. Research notes describe concepts under development.