Blockchain Consortium Aims to Create an ‘Energy eBay’

A U.K. consortium led by blockchain technology developer Electron aims to start testing an “energy eBay” in the first half of this year.

The consortium is looking to test bilateral trading toward the middle of the year, said Electron’s chief operating officer, Joanna Hubbard, who will be speaking at the Blockchain in Energy Forum hosted by GTM in March.

The trading platform will be “a shared marketplace for energy assets to respond to pricing signals,” she said.

It aims to support new flexibility markets being launched by grid operators and utilities.

Last August, for example, the electricity company UK Power Networks unveiled a flexibility program, the first of its kind in the United Kingdom, “calling on energy resources to offer their services to support the distribution network during periods of high electricity demand,” according to the company.

Another blockchain-based energy marketplace is in the works.

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