Ontario — Canada’s largest municipally-owned electric utility Alectra launches GridExchange.
Funded by Natural Resources Canada and in partnership with Sunverge, Savage Data, and FLO, GridExchange is a blockchain-based software platform that enables customers with distributed energy resources (DERs) such as solar panels, battery storage, and electric vehicles to participate in an energy marketplace with Alectra.
The three-month-long pilot program engages 21 Ontario households across Vaughan, Markham, Barrie, Richmond Hill and Hamilton.
“The GridExchange pilot project plays a pivotal role in supporting consumers by offering them greater control over their energy usage,” said Brian Bentz, President and CEO, Alectra Inc.
GridExchange customers who participate in various clean energy transactions will be compensated in cash and ‘GxRewards’ which are rewards that are redeemable at local merchants. Merchants enrolled in the three-month pilot include local businesses including Pizzaville, Grand Tour Autospa, Chuck’s Roadhouse Bar & Grill, Marcolino Bakery, and TruBliss Wellness & Beauty Spa.