The Australian company Power Ledger, which promotes the peer-to-peer energy trade based on blockchain technology, announced on November 7 that it signed an agreement with the electric power wholesaler Powerclub to deploy virtual power plants in southern Australia. This was disclosed by the company through an official statement.
This alliance represents “the first large-scale commercial launch of its technology,” said Power Ledger, which offers an alternative peer-to-peer exchange based on blockchain and crypto assets.
In the statement they explained that Powerclub “will integrate Power Ledger blockchain-based technology, including its Virtual Power Plant (VPP) energy trading application, which will allow residents of Adelaide, Australia, to control the use of energy in their homes in an unprecedented way.
From this association, Powerclub members will use the Power Ledger VPPs to group solar energy storage and batteries, which in turn will allow them to have greater control over their energy consumption and costs, and access wholesale prices of electricity.
As Power Ledger explained in its publication, by making use of VPPs and establishing faster energy agreements through this technology, Powerclub members will have the options to: sell the surplus of solar energy stored in their batteries at times of increased demand and price (recovering their investment in solar energy) and, on the other hand, “they can avoid peak demand price spikes by reducing annual energy costs.” Thus, Powerclub members will be able to exercise greater control over how much they pay for the energy they use and when they use it, according to Power Ledger.
In this regard, the co-founder and president of Power Ledger, Jemma Green, said that the platform for the energy trade between peers of Power Ledger will give customers of the network “greater control and management over their energy”. Green added that in the future of the energy sector “it will be decentralized”.
“The Australian Energy Market Commission has already pointed out the need for future networks to become energy trading platforms. The future of the energy industry will be decentralized and democratized, like what we have seen happen to the taxi industry with shared travel applications such as Uber and Ola. It is no longer necessary to be a massive electricity company to market energy. ”
For its part, the founder and CEO of Powerclub, Stuart McPherson, stressed the need for transparency in the energy market and its expectation that it will increase through the use of the Power Ledger platform: “If there is something that Powerclub defends, it is transparency. We have partnered with Power Ledger because we believe that its technology is essential to reduce the opacity of prices in the energy market, ”he said.
Powerclub is an Australian company launched earlier this year. From its integration with Power Ledger, its founder believes that members “will be able to access even better price points for their energy.”
While Power Ledger noted that this partnership with Powerclub represents the first large-scale commercial launch of its technology, this Australian startup has been working with other companies to launch tests of its blockchain solution for the transactional energy market.
Power Ledger has tested its energy and cryptoactive exchange technology not only in metropolitan and rural areas of its country of origin (Australia), but also in other latitudes, such as: United States, Austria, Thailand and Japan.
In September Power Ledger announced the launch of the first test of its transactional energy platform for rural areas in Western Australia.
In early October Power Ledger published that it partnered with the Japanese solar energy provider Sharing Energy and the eRex electricity retailer to test the peer-to-peer solar energy trade in the Kanto region, Japan, thus joining another initiative launched in Osaka in August: Kansai Electric Power Co. (KEPCO) and Power Ledger electrical services company tested a blockchain-based system for transactional energy.