Demand Side Load Management for Big Industrial Energy Users under Blockchain-Based Peer-to-Peer Electricity Market

Dang, C; Zhang, J; Kwong, CP; Li, L

Demand Side Load Management for Big Industrial Energy Users under Blockchain-Based Peer-to-Peer Electricity Market

Dang, C Zhang, J

Kwong, CP Li, L

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Publication Type:: Journal Article
Citation:: IEEE Transactions on Smart Grid, 2019, 10 (6), pp. 6426 - 6435
Issue Date:: 2019-11-01

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Field	Value	Language
dc.contributor.author	Dang, C	en_US
dc.contributor.author	Zhang, J https://orcid.org/0000-0003-2616-6722	en_US
dc.contributor.author	Kwong, CP	en_US
dc.contributor.author	Li, L https://orcid.org/0000-0001-8485-2216	en_US
dc.date.available	2021-05-18T19:02:26Z
dc.date.issued	2019-11-01	en_US
dc.identifier.citation	IEEE Transactions on Smart Grid, 2019, 10 (6), pp. 6426 - 6435	en_US
dc.identifier.issn	1949-3053	en_US
dc.identifier.uri	http://hdl.handle.net/10453/131169
dc.description.abstract	© 2010-2012 IEEE. Blockchain is the key technology of Bitcoin and other cryptocurrencies, and it is one of the most exciting technologies changing the world as of late. Targeting at big industrial energy users, this paper first presents a new market structure (i.e., transaction rules) under existing blockchain-based electricity transaction platforms to cover popular types of markets such as contract, day-ahead, adjustment and balancing markets; and then focuses on the optimal load management problem for a particular industrial user. The proof-of-work cost from blockchain is also modeled. A key feature of this load management problem is that the user has direct control on its own load. The obtained load control model is much more accurate than existing approaches in which system operators or demand aggregators cannot control load directly and have to rely on inaccurate estimations. As a case study, the pumping load of a water supply plant is investigated to illustrate how the demand load is managed under this blockchain-based market. From the case study, it is found that 18.9% of total cost can be saved under this new market structure.	en_US
dc.relation.ispartof	IEEE Transactions on Smart Grid	en_US
dc.relation.isbasedon	10.1109/TSG.2019.2904629	en_US
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.title	Demand Side Load Management for Big Industrial Energy Users under Blockchain-Based Peer-to-Peer Electricity Market	en_US
dc.type	Journal Article
utslib.citation.volume	6	en_US
utslib.citation.volume	10	en_US
utslib.for	0805 Distributed Computing	en_US
utslib.for	0906 Electrical and Electronic Engineering	en_US
utslib.for	0915 Interdisciplinary Engineering	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Electrical and Data Engineering
utslib.copyright.status	open_access	*
pubs.issue	6	en_US
pubs.publication-status	Published	en_US
pubs.volume	10	en_US

Abstract:

© 2010-2012 IEEE. Blockchain is the key technology of Bitcoin and other cryptocurrencies, and it is one of the most exciting technologies changing the world as of late. Targeting at big industrial energy users, this paper first presents a new market structure (i.e., transaction rules) under existing blockchain-based electricity transaction platforms to cover popular types of markets such as contract, day-ahead, adjustment and balancing markets; and then focuses on the optimal load management problem for a particular industrial user. The proof-of-work cost from blockchain is also modeled. A key feature of this load management problem is that the user has direct control on its own load. The obtained load control model is much more accurate than existing approaches in which system operators or demand aggregators cannot control load directly and have to rely on inaccurate estimations. As a case study, the pumping load of a water supply plant is investigated to illustrate how the demand load is managed under this blockchain-based market. From the case study, it is found that 18.9% of total cost can be saved under this new market structure.

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http://hdl.handle.net/10453/131169