Monday 30 April 2018

Centrica trials blockchain tech for energy trading in Cornwall

Centrica trials blockchain tech for energy trading in Cornwall

Centrica is launching a new trial in Cornwall to explore how blockchain technology could change the way consumers buy and sell energy.

It is part of its £19 million Local Energy Market (LEM) trial and is being developed in partnership with LO3 Energy, looking into how new approaches could disrupt the traditional energy model.

Blockchain technology provides a platform for consumers to buy and sell energy from each other, securely linked so trade history is permanent and unalterable.

The project will see 200 homes and businesses use the platform to help unlock savings.

Mark Hanafin, Chief Executive of Centrica Business said: “The proliferation of digital technologies is having a significant impact on the energy industry, allowing us to find new and better ways of delivering energy and services to our customers.

“This is an exciting opportunity for us to test blockchain technology beyond the theoretical and put it into practice, developing innovative new solutions that will empower consumers in the UK... to take control of how they engage with energy.”

Innovative new technologies will be part of the showcase and discussions at Energy Live Future, taking place on 7th June at The Crystal in London.

Written by

Bruna Pinhoni

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