Shell and EDF join blockchain trading consortium

Shell, UK Power Networks and EDF Energy are among nine firms to have joined a new blockchain trading consortium set up by operator Electron. The businesses, which also include Baringa, […]

By Jonny Bairstow

Shell, UK Power Networks and EDF Energy are among nine firms to have joined a new blockchain trading consortium set up by operator Electron.

The businesses, which also include Baringa, Flexitricity, KiWi Power, Northern Powergrid, Open Energi and Statkraft, aim to use the platform to tackle the challenge of energy flexibility and to collaboratively design a vision for the future of the UK’s energy industry.

Last year Electron received BEIS funding to continue development work of the trading platform – the government has acknowledged flexibility is one of the key ways to ensuring cheap, clean and reliable energy in the future.

The collaboration hopes to incorporate specialist knowledge from stakeholders, develop a framework for the rapidly evolving electricity system and enable better trading of grid balancing technologies.

Paul Ellis, CEO and Co-Founder of Electron, said: “We are delighted to have established a forum for industry participants to work together to make transactive flexibility something that is real and relevant.

“By working together, we recognise the current system needs to be changed and we are designing a system for present and future market participants.”

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