Blockchain energy market provider, Power Ledger
is putting its world-leading peer-to-peer energy trading platform to the test via a trial with Australia’s leading energy retailer, Origin
. The technical trial involves using anonymised and historical customer data to explore the benefits and challenges of peer-to-peer energy trading across the regulated network.
Power Ledger managing director, David Martin said working with Origin was a major step towards demonstrating the power of the blockchain to unlock the value of consumer-owned distributed energy resources. “The technical trial with Origin allows us to test this new and potentially disruptive technology with one of the industry’s biggest players,” Mr Martin said.
“Peer-to-peer energy trading presents an opportunity to unlock enormous value for consumers, it disintermediates the energy supply model putting consumers in direct contact with other consumers," continued Martin.
“Exploring technology options with Origin that could allow consumers to take more control of their energy purchasing options highlights how the needs and expectations of energy users are changing in Australia and reflects Origin’s stated commitment to delivering innovative energy solutions to its customers,” he said.
Power Ledger uses world-leading blockchain technology to create an immutable record of energy generation and consumption facilitating the opportunity for consumers to buy and sell energy to and from their neighbours in a simple and autonomous manner with complete confidence.
Tony Lucas, Origin Executive General Manager, Future Energy said the Power Ledger trial reflected Origin’s commitment to rapidly exploring and trialling a range of emerging technologies.
“While it’s still fairly early days for this technology, we are keen to explore the potential benefits that peer-to- peer energy trading could offer our customers. Power Ledger is one of a number of emerging technologies we’re currently exploring, which we believe could help us meet the changing needs of our customers.
“We hope the trial will help us better understand the value proposition for consumers, as well as the regulatory and technical implications of the peer-to- peer trading model,” Mr Lucas said.
The trial involves Power Ledger using anonymised consumer data to prove the accuracy and security of the Power Ledger trading platform. The trial will begin in October and run for a period of three months.