Centrica is launching a trial in Cornwall to explore how blockchain technology could change the way consumers buy and sell power. The FTSE 100 power giant invested in an American blockchain start-up, LO3 Energy, last year. It has enlisted about 200 businesses and homes to test peer-to-peer energy trading using the technology. Blockchain is a decentralised digital ledger that records transactions, such as those made with digital currencies. Centrica is moving away from large, centralised power stations and expanding into distributed generation – where power is produced by smaller, dispersed sources, such as wind turbines and solar panels. The blockchain project is part of a £19m initiative in Cornwall where Centrica is testing the potential of distributed generation and battery storage to transform the sector.
Times 29th April 2018 read more »