A blockchain-based double-sided auction peer-to-peer electricity market framework

Godwin C. Okwuibe; Michel Zade; Peter Tzscheutschler; Thomas Hamacher; Ulrich Wagner

doi:10.1109/EPEC48502.2020.9320030

A blockchain-based double-sided auction peer-to-peer electricity market framework

Godwin C. Okwuibe, Michel Zade, Peter Tzscheutschler, Thomas Hamacher, Ulrich Wagner

Chair of Renewable and Sustainable Energy Systems

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

17 Scopus citations

Abstract

The framework presented provides an open-source, blockchain-based, peer-to-peer energy market platform which can be used for testing different setups or for creating a microgrid peer-to-peer trading platform. The framework offers the following possibilities:•variations of the trading horizon, metering intervals;•simulations within a fraction of the real time;•variations of the number of participants;•multiple operated microgrids within one smart contract;•clearing mechanisms with discriminative prices or a market clearing price;•functionality to log data exchanged with the blockchain; production and consumption data of each participant, electricity exchanged within the microgrid and the main grid, token balances of all participants, •variation of the price ranges.

Original language	English
Title of host publication	2020 IEEE Electric Power and Energy Conference, EPEC 2020
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9781728164892
DOIs	https://doi.org/10.1109/EPEC48502.2020.9320030
State	Published - 9 Nov 2020
Event	2020 IEEE Electric Power and Energy Conference, EPEC 2020 - Edmonton, Canada Duration: 9 Nov 2020 → 10 Nov 2020

Publication series

Name	2020 IEEE Electric Power and Energy Conference, EPEC 2020

Conference

Conference	2020 IEEE Electric Power and Energy Conference, EPEC 2020
Country/Territory	Canada
City	Edmonton
Period	9/11/20 → 10/11/20

Keywords

Blockchain
Energy trading
Peer-to-peer
Smart contract
Token (TEC)

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1109/EPEC48502.2020.9320030

Cite this

Okwuibe, G. C., Zade, M., Tzscheutschler, P., Hamacher, T., & Wagner, U. (2020). A blockchain-based double-sided auction peer-to-peer electricity market framework. In 2020 IEEE Electric Power and Energy Conference, EPEC 2020 Article 9320030 (2020 IEEE Electric Power and Energy Conference, EPEC 2020). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/EPEC48502.2020.9320030

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Okwuibe, GC, Zade, M, Tzscheutschler, P, Hamacher, T & Wagner, U 2020, A blockchain-based double-sided auction peer-to-peer electricity market framework. in 2020 IEEE Electric Power and Energy Conference, EPEC 2020., 9320030, 2020 IEEE Electric Power and Energy Conference, EPEC 2020, Institute of Electrical and Electronics Engineers Inc., 2020 IEEE Electric Power and Energy Conference, EPEC 2020, Edmonton, Canada, 9/11/20. https://doi.org/10.1109/EPEC48502.2020.9320030

A blockchain-based double-sided auction peer-to-peer electricity market framework. / Okwuibe, Godwin C.; Zade, Michel; Tzscheutschler, Peter et al.
2020 IEEE Electric Power and Energy Conference, EPEC 2020. Institute of Electrical and Electronics Engineers Inc., 2020. 9320030 (2020 IEEE Electric Power and Energy Conference, EPEC 2020).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Zade, Michel

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AU - Wagner, Ulrich

PY - 2020/11/9

Y1 - 2020/11/9

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AB - The framework presented provides an open-source, blockchain-based, peer-to-peer energy market platform which can be used for testing different setups or for creating a microgrid peer-to-peer trading platform. The framework offers the following possibilities:•variations of the trading horizon, metering intervals;•simulations within a fraction of the real time;•variations of the number of participants;•multiple operated microgrids within one smart contract;•clearing mechanisms with discriminative prices or a market clearing price;•functionality to log data exchanged with the blockchain; production and consumption data of each participant, electricity exchanged within the microgrid and the main grid, token balances of all participants, •variation of the price ranges.

KW - Blockchain

KW - Energy trading

KW - Peer-to-peer

KW - Smart contract

KW - Token (TEC)

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BT - 2020 IEEE Electric Power and Energy Conference, EPEC 2020

PB - Institute of Electrical and Electronics Engineers Inc.

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Okwuibe GC, Zade M, Tzscheutschler P, Hamacher T, Wagner U. A blockchain-based double-sided auction peer-to-peer electricity market framework. In 2020 IEEE Electric Power and Energy Conference, EPEC 2020. Institute of Electrical and Electronics Engineers Inc. 2020. 9320030. (2020 IEEE Electric Power and Energy Conference, EPEC 2020). doi: 10.1109/EPEC48502.2020.9320030

A blockchain-based double-sided auction peer-to-peer electricity market framework

Abstract

Publication series

Conference

Keywords

UN SDGs

Access to Document

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