Cardiff University | Prifysgol Caerdydd ORCA
Online Research @ Cardiff 
WelshClear Cookie - decide language by browser settings

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

Thomas, Lee ORCID: https://orcid.org/0000-0002-4602-5102, Long, Chao ORCID: https://orcid.org/0000-0002-5348-8404, Burnap, Peter ORCID: https://orcid.org/0000-0003-0396-633X, Wu, Jianzhong ORCID: https://orcid.org/0000-0001-7928-3602 and Jenkins, Nicholas ORCID: https://orcid.org/0000-0003-3082-6260 2017. Automation of the supplier role in the GB power system using blockchain based smart contracts. CIRED - Open Access Proceedings Journal 2017 (1) , pp. 2619-2623. 10.1049/oap-cired.2017.0987

This is the latest version of this item.

[thumbnail of OAP-CIRED.2017.0987.pdf]
Preview
PDF - Published Version
Download (426kB) | Preview

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: Article
Date Type: Published Online
Status: Published
Schools: Computer Science & Informatics
Engineering
Subjects: T Technology > TK Electrical engineering. Electronics Nuclear engineering
Publisher: IET
ISSN: 2515-0855
Funders: EPSRC
Related URLs:
Date of First Compliant Deposit: 23 February 2018
Date of Acceptance: 3 July 2017
Last Modified: 07 May 2023 08:49
URI: https://orca.cardiff.ac.uk/id/eprint/109428

Available Versions of this Item

Citation Data

Cited 28 times in Scopus. View in Scopus. Powered By Scopus® Data

Actions (repository staff only)

Edit Item Edit Item

Downloads

Downloads per month over past year

View more statistics