UPERC approves P2P pilot based on blockchain tecnhnology

The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved a pilot project for peer-to-peer (P2P) transactions of power from rooftop solar systems using blockchain-based technology. Under this pilot project, the fees for blockchain technology will be recovered in the aggregate revenue requirement (ARR) of the concerned distribution licensee. By using blockchain technology, participants will be able to transfer funds, settle trades, or vote without seeking the approval of the certifying authority.