Altcoin News: In Texas US, Electricity Bills Can Be Paid with Cryptocurrency

February 11, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Texas residents can now pay their electricity bills using cryptocurrency thanks to the collaboration of GridPlus Energy and the local Oncor Electric Delivery Company and CenterPoint Energy.

GridPlus Energy uses Ethereum blockchain to provide its customers with direct access to wholesale energy markets. Currently, payment of electricity bills is accepted on the air or Dai, but the company announced that in the near future it also plans to add the ability to accept payments in Bitcoins.

Electricity companies report that their current products are calculated at monthly intervals, and their goal is to bring future products closer to real-time intervals.

“In Texas, electricity prices change depending on supply and demand in the market at 15-minute intervals, so it would be ideal to adjust bills and payments to this level,” the report says.

According to representatives of GridPlus Energy, in this market there can be significant price fluctuations, but, if averaged over a long period, payment in real time is more beneficial for the end user than a product with a fixed price.

Author: Marko Vidrih