Japanese IT products and services giant Fujitsu said it developed a blockchain-based exchange system for commercial electricity consumers that aims to facilitate a more stable power supply at peak periods, and save energy.

Fujitsu Limited and Fujitsu Laboratories Ltd. announced that they have devised a system in which electricity consumers can efficiently exchange the surplus electricity they have produced through their own electricity generation or power savings.

They tested the new blockchain system in co-operation with electric power distributor ENERES Co., Ltd. in summer and winter of 2018. The companies observed 40 percent improvement compared to the success rate of conventional methods used in an existing system called Demand Response (DR).

Details of the new technology are showcased at the ENEX 2019 Energy and Environment Exhibition, being held in Tokyo.

Fujitsu applied the new blockchain technology to create a system of exchange in which electricity consumers who have contracted with an aggregator can exchange amounts of power saving among consumers.

This two phased electricity exchange technology guarantees the transparency of recorded exchange transaction results.

It will quickly calculate how much energy is available from sellers and match that with available buy orders in order to receive a faster response at peak times.

Fujitsu said it has applied for patent for this technology. The company is carrying out verification of the new blockchain-based system in a real-world environment, with a view to applying it on commercial basis from fiscal 2019.

Fujitsu is a member of the RE100 group of companies that are relying on renewable energy, and is putting measures in place to build a carbon-free society.