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Automation of the supplier role in the GB power system using blockchain based smart contracts

Thomas, Lee, Long, Chao, Burnap, Peter, Wu, Jianzhong and Jenkins, Nicholas 2017. Automation of the supplier role in the GB power system using blockchain based smart contracts. Presented at: CIRED 2017 - International Conference on Electricity Distribution, Glasgow, UK, 12-15 June 2017. pp. 1-5.

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Abstract

An electricity supply smart contract was developed and demonstrated to perform pre-time-of-use price negotiation between demand and generation and posttime- of-use settlement and payment. The smart contract was demonstrated with 1000 loads/generators with usages simulated using lognormal probability distributions. It combines payment of deposit, negotiation of price based on estimates, settlement based on actual usage and enactment of payments using crypto-currency. The settlement procedure rewards customers that adjusted to balance the system. The smart contract was written in the Solidity programming language and implemented with a simulated Ethereum blockchain using testrpc and go-ethereum. In the example test case, a price was agreed, settled and payment enacted.

Item Type: Conference or Workshop Item (Paper)
Date Type: Acceptance
Status: Published
Schools: Computer Science & Informatics
Engineering
Subjects: T Technology > TK Electrical engineering. Electronics Nuclear engineering
Funders: EPSRC
Related URLs:
Last Modified: 31 Aug 2017 08:35
URI: http://orca.cf.ac.uk/id/eprint/101852

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