ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) on Wednesday hosted a webinar on “Block chain in Energy Trade” with an aim to create awareness amongst the power sector stakeholders.
The webinar was led and addressed by Chairman NEPRA, Mr. Tauseef H. Farooqi, followed by Dr. Shoab A. Khan, CEO CARE; Mr. Safi Ghauri, Lawyer, Esquire and Ms. Amna Munawar, President Copair, said a press release. Chairman NEPRA, Mr. Tauseef H. Farooqi highlighted the importance of Blockchain in Peer-to-Peer Energy Trading, Energy Data Management and its role in Grid Balancing and Flexibility.
He elaborated that the potential benefits of blockchain in energy trade are significant, however, the main challenges are regulatory framework, scalability and interoperability with existing energy systems and that the public-private pilot projects are best to explore the practical implementation of blockchain in the energy sector.
Mr. Shoab A. Khan provided an overview of basics of blockchain technology, Smart Contracts and the use of blockchain in electrical grids by explaining daily load curves and relating it with the energy mix.
Mr. Safi Ghauri highlighted the benefits of blockchain for energy providers, consumers and regulators. He also gave an overview of the blockchain energy markets apps and economic considerations to take in account while implementing the block chain technologies.
Ms. Amna Munawar at the end highlighted the importance of blockchain in microgrids, energy communities and electric vehicles charging and integration.
The workshop concluded after a detailed Questions & Answers session of the participants with the Chairman and the Speakers.