Blockchain-enabled Transactive Method in Distributed Systems Considering Security Constraints

Jin, Xiaoling; Bai, Cuifen; Zhang, Zhebo; Zhao, Shiwei; Wang, Haoran; Yan, Zheng; Zhang, Lu; Chen, Sijie

doi:10.1109/cec.2019.8790069

Cited by 7 publications

(1 citation statement)

References 6 publications

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“…Moreover, a twoblockchain-layer is proposed in [10] for Balancing Responsible Parties (BRP) and system operator settlements allowing a higher automation for balancing market and new business models for BRP. Moreover, a review of blockchain technology, a mechanism for distributed power trading considering security constraints and a trading method using Ethereum blockchain and smart contracts are provided in [11] to allow the transparency of the trading. [12] propose a design and implementation of a blockchain decentralized uniform price market with rules written in smart contracts emphasizing three implementations of electricity market using the Ethereum.…”

Section: Literature Reviewmentioning

confidence: 99%

Two Novel Blockchain-Based Market Settlement Mechanisms Embedded Into Smart Contracts for Securely Trading Renewable Energy

2020

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The progress of ICT technologies, day-ahead forecast, home energy management systems, implementation of smart meters, and Distributed Energy Sources (DER) enables new business opportunities for prosumers to locally trade the surplus via blockchain platforms leading to considerable advantages at the community level. The current research handles settlement similar to a centralized market that it is not necessarily the best solution for blockchain. Nonetheless, the settlement is essential as sellers and buyers perceive the attractiveness of the local trading through the market results. In this paper, we propose two novel and efficient settlement mechanisms (Global Balancing Settlement GBS and Splitting Settlement SS) for Peer-to-Peer (P2P) electricity exchange enhancing the performance of the classic Pairwise Settlement PS. These will be written as stored procedures embedded into the smart contracts along with auctioning procedures. The simulations are performed using a small residential community with 30% of the electricity that can be locally traded to lower the bills and unstress the public grid. The performance of the two proposed settlement methods is proved by the 14 scenarios that thoroughly indicate that GBS and SS provide better results for both sellers and buyers than PS. In the reference scenario, with GBS, sellers have the highest encashments with almost 4% more, whereas buyers encounter the lowest payments with almost 5% less than in case of the classic settlement. Starting from reference scenario, alternative scenarios are envisioned to extend the analyses and assess the performance of the settlement mechanisms. The highest gain is recorded with GBS mechanism: almost 8.8% for sellers and 6.5% for buyers. Another interesting outcome is that GBS is providing better results than SS. When deviations are small, SS provides almost 6% gain for both sellers and buyers, but when they increase, the gain is exceedingly small or none.

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Section: Literature Reviewmentioning

confidence: 99%

Two Novel Blockchain-Based Market Settlement Mechanisms Embedded Into Smart Contracts for Securely Trading Renewable Energy

2020

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Choice of the distributed photovoltaic power generation operating mode for a manufacturing enterprise: Surrounding users vs a power grid

Lin

Liu

Ming

et al. 2021

Journal of Cleaner Production

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“Grid”-Less Power Systems: A Vision for Future Structure of Power Networks

2020

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This paper proposes a new paradigm in the structure of power systems to facilitate the large scale move to renewables-based distributed generation necessary to help decarbonize the current electricity networks. Since the design of the incumbent power system topologies is to control large synchronous generators, critical control metrics degrade as the penetration of converter-based units increases. Specifically, the reduction in short circuit level, phase angle movement, and rate of change of frequency limit the wider adoption of converter-based units. This paper proposes structural changes and control that inherently solve such critical performance issues through physically decoupling all synchronous generators from the network. A set of back-to-back AC/DC/AC converters controlled by a universal virtual synchronous machine-based control algorithm, introduced in the paper, allows the repurposing of existing plant to enable the integration of more converter-based units. Despite being physically disconnected, this new structure/control still benefits from inertial capacities of synchronous generators to suppress the oscillations caused by disturbances. Moreover, the method enables further exploitation of synchronous generators as energy storage mechanisms. PSCAD/EMTDC simulations demonstrate the advantages of the proposed structure and control system in different normal and abnormal scenarios.

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Blockchain-enabled Transactive Method in Distributed Systems Considering Security Constraints

Cited by 7 publications

References 6 publications

Two Novel Blockchain-Based Market Settlement Mechanisms Embedded Into Smart Contracts for Securely Trading Renewable Energy

Two Novel Blockchain-Based Market Settlement Mechanisms Embedded Into Smart Contracts for Securely Trading Renewable Energy

Choice of the distributed photovoltaic power generation operating mode for a manufacturing enterprise: Surrounding users vs a power grid

“Grid”-Less Power Systems: A Vision for Future Structure of Power Networks

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