Power Ledger—a Perth-headquartered energy trading software company—announced today the first large-scale commercial roll out of its blockchain-enabled technology; partnering with Melbourne-based electricity wholesaler Powerclub to give Australian households unprecedented access to better price points for their energy.
Power Ledger and Powerclub—which is the first Australian energy retailer to be set up as a company limited by guarantee, meaning it cannot pay dividends nor issue shares—will start by giving Powerclub members living in South Australia the ability to pool their excess solar and battery storage to a so-called Virtual Power Plant (VPP), a technology built by Power Ledger.
In a shared press release published Thursday, Power Ledger and Powerclub explained that, by South Australian Powerclub members pooling their net solar and battery storage, they “gain access to wholesale electricity prices for more control over what they pay for their energy consumption.”
Power Ledger and Powerclub anticipate that their first-of-its-kind commercial deal will expand to other Powerclub members residing on the east coast of Australia. “The two companies are already looking at longer term solutions to the current energy crisis to ensure Australians have access to cheaper and cleaner energy,” the press release also stated.
Commenting on the significance of the deal between the two up-and-coming Australian energy companies was Power Ledger co-founder and chairman Dr Jemma Green. “The Australian Energy Market Commission has already flagged the need for grids of the future to become energy trading platforms. The future of the energy industry will be decentralised and democratised, like what we’ve seen happen to the taxi industry with rideshare apps like Uber and Ola. You no longer need to be a massive electricity company to commoditise energy.”
In a video interview uploaded to the Nugget’s News YouTube channel today, Nugget’s News founder Alex Saunders spoke with Power Ledger crypto economist Anya Nova about how Power Ledger’s energy trading application is an ideal solution for companies like Powerclub.
Nova—who was recently awarded ‘Blockchain Leader of the Year’ and ‘Female Blockchain Leader of the Year’ at the inaugural Australian Blockchain Industry Awards—also updated Alex on Power Ledger’s recent business developments, POWR token economics, renewable energy market forces, and much more.
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