Energias de Portugal (EDP) has become the first in the market to use blockchain technology for the measurement and recording of energy consumption and distributed generation coming from its consumers. The solution facilitates the process of managing the energy produced by the solar plants and consumed by the customers, the so-called 'prosumers', who consume and produce energy at the same time.
The project was created in partnership with the Austrian company RIDDLE&CODE, who has developed a non-removable cryptographic tag. By attaching these tags to domestic energy meters, measuring the co-consumption of each user and facilitating calculations for charging and taxing become possible without the need to install an intelligent meter. Thus, it is possible to safely assign if there was an excess of energy or if there will be a discount on the invoice.
Among the benefits of this solution is the improved management of energy flow decentralization with the connection of the three agents involved: distributor, consumer and distributed generation plant. It guarantees the veracity, transparency and traceability of data, the possibility of registering the customer and the remote meter reading of conventional meters. The design of the solution using Blockchain technology aims to ensure the scalability and sustainability of the entire system.