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Energy heavyweights support blockchain to manage smart grid

This week, two utilities have announced new smart grid blockchain initiatives. Tokyo Electric Power Company (TEPCO) is funding a project to test how the company’s distributed energy resources can be better integrated to its transmission network with blockchain-based systems. The news comes in the same week that Dutch utility Tennet in partnership with Sonnen Battery and IBM will use blockchain to help integrate Distributed Energy Resources (DERs) into its network. DERs such as solar, wind and electric vehicles are increasing their foothold among wholesalers. Managing these assets presents utilities with a difficult challenge, but also an opportunity to cut costs and move the grid away from fossil fuel – one they are exploring with blockchain. Energy theft is a huge…

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