Thailand’s blockchain enabled power producer will be required to pay extra fees to the state to offset them due to the disruption caused. The new regulation drafted will require the power producers to spend further to adapt the changes to the regulation by Energy Regulatory Commission (ERC). The production of blockchain involves a huge amount of electricity to keep the business alive. This is in reference to withstand the impact of competition that is set to come as the growth of independent power production in the country booms.
The blockchain power producers are such a threat to the state so they are to pay the debt of the burden. According to the member of ERC, Viraphol Jirapraditkul, “The number of household solar rooftop power generators is increasing rapidly. That’s why the ERC needs to develop the regulation that is fair for everybody.” The Electricity Generating Authority of Thailand had to incite in securing and maintaining the grid which was supposed to cover expense from the proposed fee.
The solar power producers have only been informed about the involvement of the fees which mean there is no information on the amount of the fees that will be there or even when the fees will come into effect. Thailand has seen a number of firms using blockchain to assist homeowners and other independent power producers make money from the solar panels mounted on their roofs by enabling blockchain-based peer-to-peer marketplaces. This led to cutting the Electricity Generating Authority of Thailand from the market.
The blockchain based solar power system from Thailand has a potential of generating 635 kW has been offered a capital from initiatives include BCPG partnering with Sansiri, a real estate developer. Also, Banpu Infinergy is also developing a blockchain-based platform.
According to the managing director of Power Ledger, David Martin, this will not only be good for the environment but also for consumers’ pockets.
“By enabling trade in renewable energy, the community meets its own energy demands, leading to lower bills for buyers, better prices for sellers, and a smaller carbon footprint for all.”