AUSTRALIA- July 2018–The Enosi Foundation, the blockchain-based energy startup, is announcing the launch of its live energy trading platform. Enosi’s blockchain-based energy trading platform is sharing the value of renewable energy and opening up energy trading to the masses, allowing for a more efficient and transparent electricity market.
Many communities don’t have access to clean energy, yet others have a surplus of energy that returns to the grid at standard utility-set rates. Homes and businesses that have excess generation should be able to share their extra resources to those who want it, but there is no efficient way of doing so on terms set by the two parties. In Australia, retail electricity prices have doubled over the past decade, and in 2016, 81% of Australian consumers rated electricity as the greatest cost of living concern. The large energy companies exercise oligopolistic control that deters new retailers from entering the market and communities from participating in the sustainable trading of renewable energy. With Enosi’s community-based energy trading system, communities and energy startups are empowered to challenge the existing system.
By eliminating the need to go through incumbent energy players, and by incorporating a P2P trading regime, green energy adoption will be much more accessible and affordable to all. An entirely new paradigm regarding how we generate, transport, store and sell electricity can be put in place where the middleman can be ultimately be eliminated
Enosi showcased its simulated energy trading system at New York Blockchain Week in May, where it was named one of the “coolest blockchain startups” by Entrepreneur Magazine and PCMag. Energy experts and crypto investors were thrilled with Enosi’s ability to provide consumers a way to manage their energy usage through smart contracts and a blockchain-based protocol.
“The value proposition for a community based energy trading is compelling”, says Steve Hoy, CEO of Enosi. “We are demonstrating the importance of this concept through the launch of our MVP, and eventually our public release later this year. It’s great to be a part of a community energy trading scheme that will lead to a more efficient and transparent electricity market in Australia, and beyond,” he added.