Rosseti, Russia’s state-owned electric grid company, is running a pilot for a blockchain solution by Waves Enterprise. The trial aims to address discrepancies owing to meter reading errors, which result in non-payment of bills.
Waves claims that the total debt for electricity as of September 1, 2019, amounted to 1.3 trillion rubles ($20.4 billion), of which 800 billion ($12.6 billion) relates to households.
However, the problem is not merely errors in measuring electricity consumption. The payments from an end consumer do not always reach the electricity producer. The implication is that the electricity distribution companies sometimes don’t pass it on to the grid.
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