Peer-to-peer power exchange company UrbanChain and renewable price comparison platform PPAYA have announced a new partnership.
It will enable PPAYA to negotiate fixed power prices directly between renewable energy generators and corporate customers.
In doing so, it offers generators a level of protection from unpredictable wholesale market whilst businesses can bolster their eco-credentials by securing renewable energy.
The partnership will provide customers with another option for making good margins on the renewable energy they produce, said Kristina Rabecaite, CEO of PPAYA.
“This partnership is an important step in helping the UK achieve its net zero ambitions because it means that environmentally-conscious companies can be matched with green power providers and ensure that consumption and production are matched at the click of a button.”
UrbanChain has been growing its peer-to-peer network over the last year, including welcoming a housing association for the first time in December 2021 and partnering two hotels in September.
Earlier in 2021, the company also teamed up with demand side management company GridDuck and West Suffolk Council for an innovative energy trading project at Milden Hall Industrial Park.
“Working with PPAYA is a strong route for us to get different renewable generators onboarded. We have already been working on a seamless and automated onboarding process by adding the PPAYA platform as the generation engine to our peer-to-peer system,” said Dr Somayeh Taheri, CEO of UrbanChain.
In 2020, Current± caught up with Taheri and UrbanChain’s CCO Mo Hajhashem to discuss the benefits of a peer-to-peer market and how the blockchain infrastructure that underpins it works.
