Western Australian peer-to-peer trading specialist Power Ledger has inked a major deal that will see its blockchain based technology rolled out on a commercial scale in South Australia via retail energy provider Powerclub.
Powerclub, a newcomer just this year to the retail energy scene in Australia’s NEM states (excluding Tasmania), offers access to ‘wholesale’ electricity prices to “members” in exchange for an annual fee of $39.
In a statement on Thursday, the Melbourne-based Powerclub said the deal would give its South Australian members with battery storage access Power Ledger’s solar sharing software, including a Virtual Power Plant application.
The idea is to enable Powerclub households with batteries to sell their stored solar power to the grid during periods of high energy demand and price spikes, and thus accelerate the return on their investment in battery storage.
Powerclub said the technology would also give its members greater control over when they used grid energy, and how much they pay for it.
“If there’s one thing that Powerclub stands by, it’s transparency,” said CEO and founder Stuart McPherson in comments on Thursday.
“We’ve partnered with Power Ledger as we see their technology as being critical in reducing price opacity in the energy market.
“We believe that by integrating Power Ledger’s platform into our commercial offering, our members will be able to access even better price points for their energy,” he said.
For Power Ledger, whose technology had been successfully tested in various trials and pilot projects but made its first commercial foray just two months in regional W.A., the deal with Powerclub is a major step in the right direction.
“The Australian Energy Market Commission has already flagged the need for grids of the future to become energy trading platforms, said company co-founder and chair, Jemma Green.
“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.
“Australians have had enough of rising energy prices and deserve to be able to take advantage of the wholesale market,” Green said.
“Through this partnership, Powerclub Members who invest in solar and battery storage will now have real-time access to leverage the wholesale market to their benefit and get faster payback for their investment.”