Chile’s energy regulator to use Blockchain

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The executive secretary of Chile’s National Energy Commission, Andrés Romero, announced that the regulatory entity will begin to use the Blockchain technology to certify data in the country’s energy sector. The regulator will deploy the accounting technology  via its Open Energy platform (Energía Abierta) in March. In doing so, It will become the country’s first public entity to make use of Blockchain.

Among the information that the CNE will begin to authenticate on the Blockchain platform there are average market prices, marginal costs, fuel prices and the compliance with renewable energy regualtions.

According to the Romero, the technology will allow the regulatory body to improve the security of the energy data published on its platform, as in a Blockchain-based distributed database it is almost impossible to alter the information. This will ensure that the data has not been modified after the time of publication.

“The National Energy Commission has decided to join this innovative technology and we have decided to use blockchain as a digital notary, which will allow us to certify that the information we provide in the open data portal has not been altered or modified,” Romero said.

The executive secretary of the CNE added, “public information is an important input for the decision making of investments and energy projects and many of our users use this information to decide technical, economic and labor aspects. That is why, through the use of this technology, we will raise the levels of trust of our stakeholders, investors and the general public.”

Chile is currently Latin American largest solar market with around 2 GW of installed PV capacity.

Edited by Jonathan Gifford

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