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Vattenfall boosts investments in innovative digital technologies

Monday, June 12, 2017


#Vattenfall #Sweden #Digital #Technologies #Blockchain

vattenfall-900x400The Swedish power company, Vattenfall, is boosting its investments in digital technologies with the acquisition of German online platform, Trianel-PED. The platform allows more than 50 municipal authorities to sell decentralised energy solutions to German customers. Vattenfall’s Vice President of Sales Germany, Rainer Wittenberg, stated that, with Trianel-PED, Vattenfall will be able to better serve the growing number of “private customers [who] want to contribute to the [German] energy transition”. Vattenfall will continue to offer the platform to municipal utilities and also plans to start its own offerings through it later in 2017.

Additionally, the Swedish giant announced that it is cooperating with 22 European energy trading companies to introduce Blockchain technology for peer-to-peer (P2P) energy trading in the wholesale energy market. Blockchain is considered one of the potentially most threatening technologies to the traditional energy utility business model (see Hot Topic of 05 May 2017: ‘Blockchain – the next revolution in the electricity sector!‘), yet the Swedish company seems more than willing to embrace the innovative technology. During the test period, Vattenfall wants to learn more about the technology and how energy can be traded without a centralised energy market place, brokers, or banks. If successful, this would be the first Blockchain-based P2P trading system for wholesale energy products.

Such developments are intriguing: Blockchain – a distributed ledger to record data in a verifiable and permanent way – enables highly secured P2P transactions, while the experience gained with the Trianel-PED platform will enable the trade of significant amounts of decentralised power. It will be interesting to watch the evolution in how decentralised power is traded and whether Blockchain will become a successful energy trading technology.

Links:

Energy Business Review

Vattenfall