Moscow creates blockchain platform for energy for 0.5 billion rubles

On February 15, 2021, United Energy Company JSC (OEK JSC, owned by the Moscow government) announced a tender for the creation of a blockchain platform to simplify settlements between participants in the retail electric energy market (REE). 494 million rubles are allocated for this project .

According to Kommersant, citing materials on the public procurement website, the winner of the tender will be chosen on March 22, 2021, and the contractor will have to carry out all the work no later than February 14, 2022.

According to the tender documentation, the IT system will be integrated with banking payment systems (MasterCard, Visa, Maestro and Mir) and information platforms in Moscow. In total, the service should perform 128 functions, including collecting and shipping indicators from metering devices, analyzing microgeneration data. The product will have both PC and mobile versions.

Moscow is developing a blockchain platform for energy for 0.5 billion rubles

The main goal of the platform is to improve the quality of service for end users, simplifying the taking of readings from metering devices, reducing power losses due to improving the quality of "formation of its useful release" and automating calculations between participants in the REE.

The implementation of the platform is planned to begin with the Troitsky and NovDonbass districts of Moscow. It is assumed that more than 1 million users will connect to the system within one district.

Experts interviewed by the newspaper say that the United Energy Company decided to create a blockchain platform that will allow REE participants to conclude smart contracts. The blockchain here acts as an automated system for storing and recording information about the occurrence and fulfillment of obligations between energy-generating and energy-generating companies to consumers and vice versa, said Alexey Matyukhov, managing partner of BMS Group.^[1]

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