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E.On and Enel combine for landmark blockchain first

Global energy giants E.On and Enel have combined to trade power via a new blockchain-powered marketplace for the first time.

The two said the first successful trading took place last week, in which power was exchanged between the two parties without the need for a central intermediary.

The landmark moment was borne from E.On’s Future lab, which has been collaborating with IT specialists Ponton on various cutting-edge technologies over the last few years.

In May this year both E.On and Ponton founded the Enerchain initiative alongside a raft of other power companies, such as Total, Engie, EDF and Vattenfall, to bring to market a decentralised European marketplace for energy trading.

E.On described last week’s feat as a “significant milestone” for Enerchain towards realising that goal.

Matthew Timms, chief digital officer at E.On, said: “The Enerchain initiative is a good example of open, cross-industry collaboration. We all believe in the enormous potential that blockchain technology has for the new energy world and especially for our customers.”

E.On has been among the chief pioneers of utilities looking towards new, decentralised technologies as it looks to diversify its offering. In August the firm doubled down on its clean energy investment seeking to extend its lead in what it termed the “new energy world”, having five months prior set out its aim to be the “pacesetter” in digitalised markets