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Customers would also be afforded a more streamlined and accurate experience in terms of managing their bills and access to the activity taking place on their accounts. Third, the archaic and costly function of meter reading could effectively be eliminated while at the same time boosting the accuracy of bills. Finally, blockchain integration can provide a more effective system for assessing energy sources and determining how that affects the pricing passed on to the consumer. Better technology tools provide more accurate energy utilization and service data, ultimately leading to better outcomes for the end customer. The broader implications of this would include increased industry competition leading to lower prices, streamlined energy distribution, reduced energy waste and better relationships between utility companies and their customers. For a deeper perspective on blockchain technology's emerging impact on the power, utilities and energy markets, Bitcoin Magazine turned to Thierry Mortier, Global Leader of Technology and Innovation for Power and Utilities at Ernst & Young (EY). Mortier says that the power sector is in the midst of shifting from a centralized model to a more distributed model. He believes that in the future new digital peer-to-peer platforms will emerge to eliminate the middleman and seamlessly connect energy producers directly with the end power user. "Blockchain technology will help facilitate this process by allowing transactions to be recorded between two parties efficiently and in a verifiable and permanent way. It can also be programmed to trigger transactions automatically. The technology promises to radically speed up transactions and cut costs by establishing trust and the transfer of value without the involvement of traditional intermediaries." Mortier goes on to note that, aside from some early demonstrations, the applicability of an energy blockchain is still largely theoretical.

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