Energie Steiermark Subsidiary To Deploy Blockchain P2P Energy Trading Network In Austria

Blockchain, News | June 19, 2019 By:

E-Next, a subsidiary of one of Austria’s top five largest energy utilities Energie Steiermark, is planning to delpoy a blockchain-based peer-to-peer (P2P) energy trading network.

E-Next will be partnering with Australian energy startup Power Ledger, which provides a blockchain-enabled P2P marketplace for renewable energy, energy asset financing and carbon markets, for the project. E-Next, along with the NEXT-Incubator, the innovation arm of Energie Steiermark, will reportedly make Power Ledger’s energy trading platform available to households in Graz, which is home to Austria’s Smart City flagship project that involves exploring new energy technologies to meet zero emission and carbon neutral targets by 2050.

The objective of the project is to ensure data is anonymous and complies with the European Union’s strict privacy requirements as outlined in the GDPR legislation. The initial pilot will be with just 1O Graz households with the intent to expand that number over time.

“Blockchain technology has the potential to disrupt a lot of markets – but as an innovation, we also think it offers new business opportunities and the chance to generate added value for our customers,” said E-NEXT project partner and innovation manager Mathias Schaffer.

Power Ledger Co-founder and Director David Martin said that their technology will help drive the city’s transition towards a zero-carbon energy future, while also giving Graz residents a monetary incentive to use renewable energy.

“Power Ledger’s partnership with E-NEXT breaks new ground, not just in the transition to a cleaner energy future but also in the way blockchain technology can be integrated into existing legislative regimes through the adoption of innovative business processes,” said Martin.