The Japanese utility Kansai Electric Power Co. has announced a secondblockchainproject six months after unveiling a collaboration with Australian company Power Ledger.
An announcement this October from Kepco (not to be confused with the South Korean electricity giant of the same name) did not mention Power Ledger and instead cited the University of Tokyo, Nihon Unisys and Mitsubishi UFJ Bank as partners.
“We have started empirical research on the determination of the price of surplus electricity generated by photovoltaic power, and a new system capable of direct trading,” Kepco said in the release.
“Through this empirical research, we will acquire knowledge on direct power transactions using blockchain technology,” Kepco said.
The company said blockchain has the potential to enable financial transactions between prosumers, without involving utilities.
Kepco, Japan’s second-largest electric utility after Tokyo Electric Power Company (Tepco), is carrying out the work, including logging simulated energy transactions on blockchain, at research facilities in Osaka, the company said.
An outline of the research said the project is due to last through to the end of March next year.