Abstract: The present relates to a method and system for operating a virtual energy network. The method and system receives electricity at a local energy network from an electric grid, stores at an energy storage appliance electricity received from the electric grid at a first period of time, and provides electricity from the energy storage appliance to the local energy network at a second period of time. The cost of the electricity provided by the electric grid is lower at the first period of time than at the second period of time. The energy storage appliance is connected to a management unit via a communication network, from which it receives an energy storage policy. Also, the electric grid, a plurality of energy storage appliances connected to the electric grid and to a corresponding plurality of local energy networks, and the management unit constitute a virtual energy network.