Friday 16 November 2018

Centrica joins community energy blockchain trial in London

Centrica joins community energy blockchain trial in London

Centrica has announced it will be working with a machine learning start-up on the next phase of a community energy blockchain trial.

The energy giant has joint Verv’s trial at a social housing community in Hackney, London, where solar panels have been installed on 13 blocks of flats and the blockchain-based energy trading platform was rolled out in 40 participating homes earlier this year.

The next phase is trialling different billing methods to ensure customers receive clear and fair bills when taking part in a network where energy is coming from multiple sources.

Experts from Centrica’s supply business, British Gas, will look at how customers would be billed if the owners of solar panels could sell their excess energy to their neighbours, using Verv’s artificial intelligence (AI) technology and blockchain.

They will analyse how much energy is being consumed through British Gas and how much is coming from solar panels.

Peter Davies, CEO and Founder of Verv said: “Bill consolidation is a significant component of peer-to-peer energy trading; we need to ensure that consumers get a clear bill which breaks down where their energy has come from and charges them accordingly. I’m looking forward to this phase as we explore more in-depth logistics of real-world implementation and edge closer and closer to it.

“We’re thrilled to have British Gas on board to help discover how we can offer customers seamless energy consumption options that include cheaper, locally sourced green energy.”

Centrica previously invested £1.9 million into Verv through its social impact investment fund, Ignite, which now forms part of Centrica Innovations.

Written by

Bruna Pinhoni

Trending Articles