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. Presented at: CIRED 2017 - International Conference on Electricity Distribution, Glasgow, UK, 12-15 June 2017.

Preview

PDF Download (1MB) | 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:	Conference or Workshop Item (Paper)
Date Type:	Submission
Status:	Unpublished
Schools:	Computer Science & Informatics Engineering
Subjects:	T Technology > TK Electrical engineering. Electronics Nuclear engineering
Funders:	EPSRC
Related URLs:	Organisation Organisation
Last Modified:	20 Jan 2024 14:49
URI:	https://orca.cardiff.ac.uk/id/eprint/101852

Available Versions of this Item

• Automation of the supplier role in the GB power system using blockchain based smart contracts. (deposited 18 Jul 2017 14:07) [Currently Displayed]
  • Automation of the supplier role in the GB power system using blockchain based smart contracts. (deposited 23 Feb 2018 16:20)

Citation Data

Cited 33 times in Scopus. View in Scopus. Powered By Scopus® Data

Actions (repository staff only)

Edit Item