An Australian blockchain firm which deals with energy named Power Ledger has recently partnered with another local energy retailer in an attempt to roll out its technology in South Australia. The blockchain-based software by Power Ledger will allow Australians to pool their excess solar and battery storage to a Virtual Power Plant for greater control and better management of the energy, the latest blockchain news show.
Within this partnership, we can see how Power Ledger will be integrating its blockchain-based energy trading application named the Virtual Power Plant (VPP) to a commercial offering of the Australian electricity wholesaler Powerclub, as the Australian blockchain firm recently announced.
The new move is very similar to the recent initiatives by Power Ledger which are basically focused on helping the project provide users with access to wholesale electricity prices and reducing the annual energy costs.
Details from the partnership show that Powerclub members will be able to pool their net solar and battery storage to act as a VPP, a cloud based distributed power plant which is designed to enhance the power generation and provide energy trading. As such, the users will be enabled to sell their solar power during periods of high electricity demand and spikes in prices.
As per the report, the Australian blockchain firm rolls out this technology in order to enable Australians to gain control over when they use energy and how much they pay exactly. This way, it will also avoid additional hidden costs and charges by electricity retailers as the press release notes.
“You no longer need to be a massive electricity company to commoditize energy,” the co-founder and chairman at the Australian blockchain firm Jemma Green stated.
In the official press release, Power Ledger noted that the new commercial deal is the first large scale roll of the energy trading technology – following on from Power Ledger and its first energy trading pilots in Western Australia which were launched in September 2019.
In early October, the company also announced another blockchain based energy trading trial in the Kanto region in Japan, the second trial being planned to be completed by December 2019. However, we did not have a chance to get an update regarding this project.
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