Distributed Double Auction for Peer to Peer Energy Trade using Blockchains

Blockchain for power systems: Current trends and future applications

“…The Energy Blockchain has become a very famous technology for enhancing P2P electrical energy trading between producers and consumers in microgrids. Some recent papers focus on this application [28], [29], [30], [31] proposing a generic blockchain-based framework to facilitate peerto-peer electricity sales in microgrids. Such as in all cyber-physical application, verification of the validity of the transaction also relies on the reliability of the smart counter and all apparatus that certify measurements and operations.…”

“…P2P electricity sale in microgrids [28], [29], [30], [31], [41] Involvement of the DSO for handling balancing issues at distribution level during P2P transactions [32], [33], [34], [35], [36], [37], [38] Electricity trading in presence of large amount of renewables and EES [39], [40], [41] P2P decentralized management of Demand Response in the grid [11], [16], [19], [27], [43], [54], [60], [62], [73] Demand Response applications and distributed resources aggregation [16], [19], [25], [27], [33], [42], [47], [61] Incentive mechanisms for prosumers in Demand Response schemes [10], [19], [23], [24], [36], [37], [44], [45] Nevertheless, as highlighted in the introduction, one of the main problems to face is that to establish if the application of the blockchain technology to a specific issue of power systems' operation is suitable or not. A recent paper has discussed in general suitability of the application of the blockchain technology to a specific issue, providing a simple flow-chart to be used for this purpose [8], …”

A New Vision on the Prosumers Energy Surplus Trading Considering Smart Peer-to-Peer Contracts

“…Other authors propose double auction mechanism. The maximization of social welfare in the PEST can use auction-based mechanism [16,17]. The author from [18] uses an optimum pricing scheme for local electricity trading in µGs considering four particular priorities.…”

“…In addition, the consumer-driven scenario is S5-minimum price for consumers. It should be mentioned that many papers are the same with the References [7,[11][12][13][14][15][16][17][18][20][21][22][23][25][26][27][28][29][30][31][32][33] presented in Table 1. Table 1.…”

“…A comparative state of the art between our method and the literature. [7,17] no no no no yes yes [11,12,25] yes no no no no yes [13] no no yes yes no yes [14,15] no no yes yes yes yes [16,23] yes no no yes no yes [18] no no yes no no no [20,26] no no yes no no yes [21,22,30] no no no no yes no [27] no no no yes yes no [28] no no yes no yes yes [29] no yes no no no yes [31] no yes no yes no no [32,33] no no no no yes yes Proposed approach yes yes yes yes yes yes A previous work of the authors, in [34], proposes only at principle level a particular approach for prosumers energy trading in µGs as an efficient P2P exchange based on the blockchain technology. Specifically, the algorithm solves a mathematical model for the latest challenges regarding both the ADN and the newest type of electricity market participants (prosumers) using virtual or crypto price as the transaction currency.…”