Power Ledger and KEPCO collaborate to introduce P2P energy trade in Japan

Australia-based energy technology firm, Power Ledger has announced its collaboration with Japanese utility, KEPCO. The news emerged on 12th August. The two firms trailed a blockchain-backed P2P transaction for post- FIT surplus power in the city of Osaka. 

After Power Ledger’s acceptance by customers in Australia, the firm saw a similar outcome in the Asian country. The managing director of Power Ledger, David Martin highlighted in the blog post that the successful outcome was a result of the firm’s previous accomplishments in Australia. 

David Martin was quoted in the blog post saying – 

“The success of the KEPCO trial is an extension of successful projects Power Ledger has deployed in other markets leveraging the ongoing development of our technology as well as the experience of working with major energy players like KEPCO,” 

David further added, Power Ledger, will aim to keep building on this success and work hand in hand with KEPCO’s plans, to maintain its leadership position in the energy sector.

Furthermore, Power Ledger mentioned about the result of this trial proved P2P transaction can be carried forward automatically. These transactions also include settlements with cryptocurrencies regardless of the customer’s demands. Not only can they be deployed in detached houses but also in microgrids and condominiums. 

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KEPCO representative and General Manager Fumiaki Ishida shared his views on the development –

“Although there are still many challenges like amendments of relevant laws for commercialization, Power Ledger’s product presents significant opportunities for prosumers to sell their excessive energy at more advantageous prices and for consumers to buy it at more affordable prices,” 

The trial proved that customers were now ready to become prosumers and were on board with the firms proposed system. Ready to even adopt cryptocurrency as a means to settle transactions, users were enthusiastic as it brought in energy savings with a peer to peer structure. 

Many startups have created a buzz in the community. Greeneum is one such example of a blockchain-backed company. This firm not only provides a peer to peer network but also provides incentives to customers for producing renewable energy.