The UK energy market is undergoing considerable evolution to increase reliability and cost effectiveness while making it less polluting. Since the drop in North Sea oil and gas production, the UK has been increasingly reliant on energy imports from the EU. The UK Government and private investments are increasingly focusing on new local generation and demand asset opportunities that help balance and optimise intermittent power and achieve grid security and stability.
High transaction rate Distributed Ledger Technology (DLT) networks have been identified as an ideal low cost, secure way to support and optimise the increased adoption of Distributed Energy Resources and provide new revenue streams for stakeholders and operators within emerging wholesale, flex and ancillary markets.
Power Transition and the Guard Global Centre of Excellence … powered by Hedera Hashgraph, has developed a highly scalable DLT based integrated microgrid as a service platform (iMaaS) in Corby, Northamptonshire capable of resolving many of the challenges faced by the UK National Grid today
The DLT network has been integrated at the IoT level into the environmental control systems within the 47 homes including one apartment block in the new zero-carbon estate. The resulting construction will benefit homeowners with 60-70% cost reductions in their energy bills while living in the comfort of an optimised passive home environment. The platform allows consumers to trade energy peer-to-peer and benefit from the surplus energy from decentralised assets that will eventually trade this back to the grid and benefit from the Smart Export Guarantee (SEG).