Utility giants join blockchain energy trading trial

FRANKFURT: Some of Europe’s biggest utilities joined a project to test blockchain-based trades in wholesale power and natural gas markets.

Utilities from Enel SpA to RWE AG will start live trading based on blockchain in the fourth quarter, after tests that start in August, said Michael Merz, managing director at Ponton GmbH, the developer of the project. The software, called Enerchain, allows anonymous peer-to-peer trading without using a third party.