Chile¡¯s energy regulator to use Blockchain

The Chilean National Energy Commission will become the country’s first public entity to adopt such technology, which it will begin to use in March.
Chile's energy regulator aims at using the Blockchain technology also to check how energy data are complying with the country's renewable energy law.
Ímage: Comisión Nacional de Energía de Chile
The executive secretary of the National Energy Commission of Chile, Andrés Romero announced that the regulatory entity will begin to use the Blockchain technology starting from March, through the Open Energy platform (Energía Abierta) to certify the quality and certainty of the open data of the national energy sector. 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 law.
According to the Romero, this technology will allow the regulatory body to improve the security of the energy data published on the 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 since its inception without the consent of those involved in the process.
“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 and left unalterable record of its existence, “Romero said.
The executive secretary of the CNE added that “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 that consumes the data delivered at “.
Chile is currently Latin American largest solar market with around 2 GW of installed PV capacity.

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