March 29, 2024

SAP and Rosseti Ural tested the blockchain solution for electricity payments in Yekaterinburg

Electric grid company "Rosseti Ural" together with SAP, a manufacturer of ERP and other corporate systems,presented at the Electric Networks exhibition a prototype of a solution on the blockchain for settlements between participants in the energy market.

Solution developed based on SAP Cloud Platformand tested in residential premises in Yekaterinburg. 250 metering devices were connected to the system, and meter readings were taken every half hour and stored on the blockchain.

The system works as follows: An electricity consumer enters into a smart contract that sets out the conditions for electricity supply and tariffs. Based on this information, the smart contract calculates the amount of the payment based on the electricity consumed, and when making the payment, this amount is distributed between the grid and the power supply company.

According to the results of testing the project, the companycame to the conclusion that blockchain technology really speeds up payments from the end consumer to the electricity supplier, and before the process of calculating the electricity used and receiving payment took several weeks. In addition, the system on the blockchain ensures transparency of settlements, since all information is in the distributed registry in the public domain and remains unchanged.

Blockchain Project Manager at Rosseti PJSCSergey Semerikov and Deputy Director General of SAP in the CIS countries Dmitry Pilipenko believe that the tested prototype will help solve current problems and disagreements between participants in the retail electricity market, because today in the Russian energy industry there is no single information space for the exchange of such data.

This month, the Waves Enterprise platform also introduced a solution for automatic electricity metering as part of the Rosseti pilot project.

</p></p>