Australian energy trading platform Power Ledger has announced its oncoming partnership with Kansai Electric Power Co. with regards to peer-to-peer energy trading trials. Kansai Electric Power Co., KEPCO for short, is Japan’s second largest electricity utility. Said trials will be set in Japan.
The trial project’s purpose is to offset preexisting energy costs and to monetize energy investments through peer-to-peer selling of surplus energy. Communities will also stand to gain in the form of cheaper energy systems.
The end product of the said trials is the development of Virtual Power Plants. The consumer-owned facilities will generate energy and serve as additional storage capacity. It aims to support local energy demands in this manner.
KEPCO intends to cooperate in the trials by sharing meter data through its participants – namely approximately 10 homes in Osaka City, Japan. Power Ledger will in turn provide access to its trading platform in order to facilitate and monitor the energy trading involved. Another goal in the project is the implementation and development of renewable distributed energy resources.
Power Ledger’s platform tracks the generation and energy usage of its participants which allows for the effective monitoring and control of energy trading. Furthermore, it provides the ability to follow pre-determined policies and conditions, all in real-time.
David Martin, Co-founder and currently Managing Director of Power Ledger, has expressed that he is pleased with the cooperation of Kansai Electric Power Co. The reason lies behind the trial location which is Osaka, a major city in Japan. He is also thrilled that an energy utility of its level is showing active interest in the practice of DERs.
”The fact that KEPCO is exploring the Power Ledger platform as a solution is a massive indication that the industry has accepted that change is inevitable,” Martin said.
He also added that the industry is traditionally conservative, and that consumers rely on any changes to be the correct decision. According to Martin, the project is meant to provide KEPCO a new basis of technology as well as benefits in the peer-to-peer trading system.
“The trial will give material feedback around the technology and opportunity for adoption. We’re excited to partner with KEPCO to implement our platform in Japan and bring Power Ledger one step closer to our goal of democratizing power,” he concluded.