We're building the next generation technology layer for the energy industry.

Electricity has given us the opportunity to progress and thrive in our daily lives. It has brought society forward and yet, in many ways, it has fallen behind in comparison to other industries. The energy sector remains fairly untouched by the digital revolution. It’s heavily regulated and is made up of different players working in silos. A large part of communication and dealmaking still happens on paper. We see this as a risk, as well as an enormous opportunity.
Data liquidity has been the main driver behind the Internet revolution. Enabling faster energy data exchange, creating new accountability systems and increasing transparency will bring positive change to the industry. By sharing our R&D insights with the public, WePower aims to foster this energy revolution.

A revolutionary energy tokenization technology.

Enabling energy data accounting and storage on blockchain. Using Smart Energy Contracts.
Is it possible?

Yes. We’ve tokenized nationwide energy production and consumption data in Estonia.


How it all got started


Turning electrons into blocks

26,000 hours and 24 TWh of energy consumption and production data from Estonia transferred to the blockchain creating 39,000,000,000 Smart Energy Tokens.


Creating foundational technology for the next energy revolution

Creating foundational technology for the next energy revolution
Projects of this scale and ambition haven’t been attempted before, in part because of the complexity involved, but also because energy data is highly sensitive. Blockchain is the ideal enabler because its foundational principle is trust, which can be leveraged to bring revolutionary transparency to the industry. The project will deepen our understanding of blockchain as a means to share data, paving the way for much needed innovation in the energy industry.
– Kaspar Kaarlep, CTO
Future clean and secure energy will depend on innovative solutions and consumer empowerment. However, a major barrier in most countries is lack of access to energy data. Estfeed unlocks data access within Estonia and we are now working towards doing this on an international level. WePower’s proof of concept is important for showing how data access leads to innovation.
– Taavi Veskimägi, CEO

Yes, large-scale energy data can be transferred to and stored on the blockchain.

Our engineers successfully navigated their way around the challenges of uploading such a large amount of real-world data to the blockchain - proving that it is possible.

Ethereum is mature enough to accommodate contracts with multi-year terms. There are promising alternatives available as well in the development phase, but their infancy is a concern in relation to typical durations of energy contracts.

Ethereum performance indicators are sufficient for WePower to operate the renewable energy procurement and trading platform at this stage. The hybrid platform architecture can be operated with the required cost-performance for the current business needs. In order to meet increasing performance requirements in the future though, WePower will have to consider validating other blockchain/DLT solutions to identify more efficient systems to run the larger scale trading platform.
Key metrics for the ETH Main Network
Total Transactions:
Gas Used:
Average gas price (Gwei):
Median gas price (Gwei):
Cheapest gas price (Gwei):
Highest gas price (Gwei):
Average wait time (s):
Median wait time (s):
Shortest wait time (s):
Longest wait time (s):

Count of transactions at different gas price

Transactions were mostly done according to the market prices dividing transactions between different gas prices. The test also included a batch of transactions with a 60 Gwei price for shorter transaction time.

Median time to transaction confirmation per gas price

It took significantly more time for the transactions with 4.1 Gwei price to go through. This was because previously submitted batches contained 15 transactions each. While these transactions were waiting for verification - one by one - gas prices were changing significantly. Following these learnings we’ve decreased the number of transactions per batch to 3, which offers us more flexibility and a faster reaction time for gas price changes.

Distribution of transactions per gas price strategy in Mainnet

This chart shows how many transactions were performed with each gas price strategy. For the majority of transactions we chose either safelow or average gas price strategies.

1) Safe low - This is a gas price that is intended to be both cheap and successful. It may take a bit longer to get a confirmation with this price (e.g. 5 minutes), but it is safe to use and should be confirmed promptly. This price is determined by the lowest price where at least 5% of the network hash power will accept it. It requires that at least 50 transactions have been mined in the last 24 hours at this price. Furthermore, we monitor the network in real time and will update this price if a transaction at or above does not confirm within 50 blocks.

2) Average - This is the price accepted by top miners who account for at leat 50% of the blocks mined- safe and prompt. Usually reflects the wallet defaults.

3) Fastest - This is the lowest gas price that is accepted by all top miners (estimated over the last two days). Therefore, transactions with this gas price should be accepted by all the top pools. Paying more than this price is unlikely to increase transaction confirmation time under normal circumstances.

4) Custom - Custom strategy is used by setting gas price level according to our goals. In this test, we tried to send some transactions at a custom price level of 60 Gwei, to analyze if, in reality, we get any performance benefits compared to fast and fastest price levels.

Average count of blocks waited and time to block at different hours

Different gas price levels as well as time of the day affected the average count of blocks waiting to be added (i.e. the number of blocks between creating our transaction and having it included in a block) and the waiting period (i.e. the time between creating the transaction and creating the block where the transaction was included).

Transaction confirmation time distribution

This chart shows transaction confirmation times categorized into high-level time segments. The majority of transactions were confirmed (included in a block) in less than 5 minutes and more than 25% of transactions were confirmed within 60 seconds.

WePower invites blockchain protocol developers to test their technological solutions on our platform for energy data tokenisation.


Baseline of 6,700 MWh consumed daily across households

Households across Estonia consumed no less than 6,700 MWh of electricity on a daily basis. Consumption was relatively stable across the week, with a difference of 2.37% between Thursday (highest average day) and Monday (lowest average day).

Urban centres driving household consumption

It is clear that urban centres drive most of the household energy consumption in Estonia. The Harju region, where the country’s capital Tallinn is located, accounted for almost 44% of energy consumption.

Wind might cover up to 92.83% of daily national households consumption

Due to the highly increased intensity, wind energy was able to cover 92.83% of energy consumed by households in Estonia on September 4th.

Wind accounted for up to 28.15% of national energy production

Wind energy plants are usually able to leverage around 22% of their production capacity, but there are days when we see a significant increase in production. This is due to the varying nature of wind intensity. On August 6, 2017 - wind energy accounted for 28.15% of Estonia’s total energy production.

22,722.1 MWh of energy used per day

During 2017, Estonia consumed 22,722.1 MWh of electricity per day on average. The maximum consumption was reached on January 6 when 31,111.6 MWh was consumed, which is 37% higher than the daily average. Peaks and declines in the chart with the daily numbers below represent the cyclical trends of energy consumption throughout the week.
Estonian daily national energy consumption in 2017
Estonian weekly national energy consumption in 2017
Estonian daily national energy consumption in 2017
Estonian weekly national energy consumption in 2017

162.65% in hourly energy overproduction

Total production should be equal to total consumption for the energy market to remain balanced but this is not always possible. Markets settle these differences via energy price adjustments as well as energy exports to the connected energy markets. The best example of the mismatch between production and consumption in Estonia during 2017 is shown on August 24 when energy production was 162.65% higher than consumption.

Seasonality impacts on household consumption

The top 20 days of peak energy consumption for households in Estonia all occurred during the coldest season of the year - winter. The highest of these days was January 7 when households used 10,528 MWh of electricity which is 54.50% higher than the daily average of 6,814.37 MWh.

Wind covered 27.95% of hourly household consumption

On average, wind energy production was able to cover 27.92% of national households hourly energy consumption. The highest average hourly wind coverage was 41.72% on Wednesdays at 4 am when household consumption was relatively low.

6.53% average wind share of total energy production

Wind production in Estonia is the biggest source of renewable energy production - 62.6% of all renewable energy production comes from wind. On average, wind covered 6.53% of Estonia’s daily total energy production. However, during peek production days wind production is capable of delivering up to 28% of whole nation’s daily energy needs. This peak was reached on 6th of August 2017.

954.20% growth in daily wind production

The huge variation in wind production is evident when we compare data from consecutive days. On April 20 wind energy production was 954.20% higher than the previous day.

26.15% growth in daily national consumption

National daily energy consumption is usually relatively stable and is mostly affected by seasonality factors. However, one-off events have the potential to impact nation's energy consumption. We can see this on January 2 when total consumption was 26.15% higher than the day before. While analysing private consumption data, it's clear that private consumption had a minor impact or negative correlation with the total consumption growth.

What’s coming next?

Testing options for renewing contract terms or content on the blockchain.
Testing for the most secure and efficient solution for private key management.
Testing for the optimal solution for writing down the tamper proof logs on blockchain.
Exploring different aspects of Smart Energy Token secondary marketplace dynamics.
Comparison with ETH baseline for the most optimal blockchain supporting WePower’s business model.
Testing the settlement capability on the most optimal blockchain.
Virtual Power Plant concept preparation and testing new blockchain technologies.
Want to test your technology with us?