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| Content Provider | IET Digital Library |
|---|---|
| Author | Saxena, Shivam Farag, Hany E. Z. Turesson, Hjalmar Kim, Henry |
| Abstract | Transactive energy systems (TES) are modern mechanisms in electric power systems that allow disparate control agents to utilise distributed generation units to engage in energy transactions and provide ancillary services to the grid. Although voltage regulation is a crucial ancillary grid service within active distribution networks (ADNs), previous work has not adequately explored how this service can be offered in terms of its incentivisation, contract auditability, and enforcement. Blockchain technology shows promise in being a key enabler of TES, allowing agents to engage in trustless, persistent transactions that are both enforceable and auditable. To that end, this study proposes a blockchain based TES that enables agents to receive incentives for providing voltage regulation services by (i) maintaining an auditable reputation rating for each agent that is increased proportionately with each mitigation of a voltage violation, (ii) utilising smart contracts to enforce the validity of each transaction and penalise reputation ratings in case of a mitigation failure, and (iii) automating the negotiation and bidding of agent services by implementing the contract net protocol as a smart contract. Experimental results on both simulated and real-world ADNs are executed to demonstrate the efficacy of the proposed system. |
| Starting Page | 646 |
| Ending Page | 656 |
| Page Count | 11 |
| Volume Number | 3 |
| e-ISSN | 25152947 |
| Issue Number | Issue 5, Oct (2020) |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/iet-stg/3/5 |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/10.1049/iet-stg.2019.0286 |
| Journal | IET Smart Grid |
| Publisher | The Institution of Engineering and Technology |
| Publisher Date | 2020-04-24 |
| Access Restriction | Open |
| Rights License | Creative Commons Attribution License (http://creativecommons.org/licenses/by/3.0/) |
| Subject Keyword | Active Distribution Network Agent Services Ancillary Services Auditable Reputation Rating Blockchain Based TES Blockchain Based Transactive Energy System Blockchain Technology Contract Auditability Contract Net Protocol Contracts Control of Electric Power System Crucial Ancillary Grid Service Disparate Control Agents Distributed Generation Units Distributed Power Generation Distribution Network Electric Power System Energy Transactions Grid Computing Modern Mechanisms Multi-agent System Penalise Reputation Ratings Persistent Transactions Power Distribution Control Power Grid Power System Economics Power System Managemen Power System Operation Protocol Smart Contract Smart Power Grid Trustless Transactions Voltage Control Voltage Regulation Services Voltage Violation |
| Content Type | Text |
| Resource Type | Article |
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