IBM is one of the only companies taking such a progressive view of blockchain. IBM has invested much time and effort in developing blockchain expertise and exploring Hyperledger and permissioned models of blockchain, which interests us as a utility. We believe that permissioned blockchain can help facilitate and optimize a value chain for distributed energy trading and management.

Vikram Singh, Director of Advanced Planning, Alectra Utilities Corp.

Business Challenge

Alectra Utilities Corp. aimed to transform the company into a new kind of partner to their customers. They wanted to explore innovative techniques and technologies for managing the grid as a two-way street, and for offering more flexible transaction services that go beyond the typical credit on the electric bill for customers that generate energy.
 

Transformation

Alectra engaged the iX team from IBM Global Business Services for a Design Thinking workshop to explore promising use cases. Company executives were intrigued by blockchain’s potential to bring added value to the grid and customers by linking previously independent entities in an energy trading marketplace. The solution is an energy trading marketplace powered by blockchain, which provides an immutable, shared ledger for settling energy transactions and exchanging digital assets. Working with financial services partner Interac Corp., Alectra compensates trading customers with an energy credit, which they can convert to cash or redeem among a network of merchants.

Solution Component

  • Other