Blockchain as a chance for energy consumers

A pilot project from New York could become a threat to traditional energy suppliers, writes Andreas Mihm in the Frankfurter Allgemeine Zeitung. The so-called blockchain technology which is used to encrypt and secure data that is transmitted between users could be key to the energy transition because it can connect producers of renewable energy with consumers without the need for power suppliers as a facilitators. A direct and automated billing system between producers and consumers could also apply to the charging of e-cars, heating or warm water, Mihm writes. The consumer organisation of North Rhine-Westphalia has called the blockchain technology a chance for power and gas consumers to get more achievable energy.

Read the consumer organisation press release in German here and the article here.

See a CLEW factsheet on how much German households pay for power.