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Blockchain Based Balancing of Electricity Demand and Supply

  • Maheen Zahid
  • Ishtiaq Ali
  • Raja Jalees Ul Hussen Khan
  • Zainib Noshad
  • Atia Javaid
  • Nadeem JavaidEmail author
Conference paper
Part of the Lecture Notes in Networks and Systems book series (LNNS, volume 97)

Abstract

The growing number of Renewable Energy Sources (RES) in the energy system provides new market approaches according to price and decentralized generation of electricity. Local market, in which consumers and prosumers can trade locally by generation of electricity through RES directly within their community. This approach creates a balance between generation and consumption in a decentralized manner. In this paper, a distributed technology of Blockchain is used, which highlights the decentralized nature of local market. It provides a decentralized market platform for trading locally without the need of central intermediary through Periodic Double Auction (PDA) mechanism. With the introduction of Smart Grid (SG) systems, there have been improvements in how utility companies interact with customers with regards of electricity usage. However, there is a tendency for the data of users to be compromised in SG. In this proposed system, users are able to do trading through PDA and get access of their own previous history. The blockchain provides transparency, traceability and is utilized to mitigate the above mentioned problems. Smart contacts, are used to exclude the third party to provide a transparent system between users in the network.

Keywords

Smart Grid Blockchain Electricity trading Periodic Double Auction 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Maheen Zahid
    • 1
  • Ishtiaq Ali
    • 1
  • Raja Jalees Ul Hussen Khan
    • 1
  • Zainib Noshad
    • 1
  • Atia Javaid
    • 1
  • Nadeem Javaid
    • 1
    Email author
  1. 1.COMSATS University IslamabadIslamabadPakistan

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