SP Energy Networks, Scottish and Southern Electricity Networks, SP Distribution, SP Manweb and UK Power Networks
James Yu (SPEN), Kate Jones (SSEN, firstname.lastname@example.org), Boris-Emanuel Yazadzhiyan (UKPN, Boris.Yazadzhiyan@ukpowernetworks.co.uk)
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Network Innovation Allowance
ED - Network improvements and system operability, ED - New technologies and commercial evolution and ET - New technologies and commercial evolution
This project will investigate the use of Distributed Ledger Technology for smart contracts in Distribution Network Operation.
The over-arching objective is to investigate the viability of using DLT based smart contracts for distribution network operation, including the potential transition to a system operator role. To do this, the project aims to encode rules for agreement in to DLT based smart contracts. In doing this, the objective is to create knowledge and transfer know-how to the participating networks, and the wider industry, in the arrangement and safe deployment of, and interaction with, DLT based smart contracts. The project also aims to inform network licensees of the commercial and technical potential for DLT enabled smart contracts to be integrated into business as usual practices; and to provide a basis for evaluating commercial offerings. Finally, the project will also inform industry steering groups and governing bodies as to the potential for, as well as any practical limitations of, such technologies to lower the system-wide cost of operation through governance changes.