Proving the Business Case for the Internet of Things

EDP uses blockchain to measure energy consumption in Brazil

Steve Rogerson
August 7, 2018

Energias de Portugal (EDP) has becomes the first in Brazil to use blockchain technology for the measurement and recording of energy consumption and distributed generation from its consumers.
This facilitates the process of managing the energy produced by the solar plants and consumed by the customers, so-called prosumers, who consume and produce energy at the same time.  
The project was created in partnership with Austrian firm Riddle & Code, which 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 see safely if there was an excess of energy or if there will be a discount on the invoice.
Among the benefits of this is the improved management of energy flow decentralisation 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 using blockchain technology aims to ensure the scalability and sustainability of the entire system.
EDP's executive innovation manager Lívia Brando said: "The implementation of this innovation made it possible to transform a complex process into something simple, effective and safe for the parties involved, encouraging the use of distributed energy in Brazil."
Riddle & Code’s hardware and software allow companies to master challenges such as machine identity, product provenance and supply chain management.
"We have developed a secure, cost-effective and scalable solution combining EDP's IT system with state-of-the-art blockchain technologies," said Alexander Koppel, CEO of Riddle & Code. “At the same time, we enable a completely new approach to business.”