Can someone explain me in easy words how this project works.
My feeling is that it has a few problems.
In order to work they need to partner up with all the major Energy company to use their distribution network.
Why should those company accept, when they can directly buy the energy from the producer for a fraction of the price and resell it for the full price.
How much will it cost to use the Blockchain to store "near real time" report of usage, with the actual eth fee that will cost a lot i guess, and will impact in the energy price.
Please explain in details how this work, because i am interested in opening a quite big position but i still dont have answers to those 2 problems.
They don't have to. There are major issues in Australia with the big power companies - lack of supply leading to black outs when the temps crank and everyone turns on their air conditioning. The Australian power sector has suffered stagnation at the hands of the coal backing/global warming denying polies and right now it is a significant political hot potato. The solution enables fast accounting between power company and distributor - lowers costs to the end user and keeps the power generators happy as they get paid quicker + facilitates purchasing from domestic producers (my next door neighbour). A win win for all. Additionally, The "governing" party (LNP) in Australia will be churned at the next election. Labour will most likely get into Power and are a little more green/enviro focussed. You will see more take up by federal governments.