Distributed ledger technologies for peer-to-peer local markets in distribution networks

M. Troncia, M. Galici, M. Mureddu, E. Ghiani, F. Pilo

Energies Vol. 12, nº. 17, pp. 3249-1 - 3249-19

Summary:

The newest Distributed Ledger Technology platforms, which delegate the execution of complex tasks in the form of Smart Contracts, make it possible to devise novel local electricity market frameworks, which are performed in a fully automated fashion. This paper proposes a novel fully automated platform for energy and ancillary service markets in distribution networks, able to run in a decentralized fashion, bypassing the need for a physical central authority. The proposed platform, able to perform the role of Virtual Decentralized Market Authority, shows excellent potential applications in the management of local ancillary service markets in local energy communities of various sizes. The proposed Virtual Decentralized Market Authority showed reasonable running costs and comparable technical management capabilities with respect to a physical, centralized managing authority. 

Keywords: local energy markets; Distributed Ledger Technologies; Blockchain; smart contracts; Continuous Double Auction; ancillary services; peer to peer

JCR Impact Factor and WoS quartile: 2,702 - Q3 (2019); 3,000 - Q3 (2023)

DOI reference: https://doi.org/10.3390/en12173249

Published on paper: September 2019.

Published on-line: August 2019.

Citation:
M. Troncia, M. Galici, M. Mureddu, E. Ghiani, F. Pilo, Distributed ledger technologies for peer-to-peer local markets in distribution networks. Energies. Vol. 12, nº. 17, pp. 3249-1 - 3249-19, September 2019. [Online: August 2019]