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A general form of smart contract for decentralised energy systems management

Thomas, Lee ORCID:, Zhou, Yue ORCID:, Long, Chao ORCID:, Wu, Jianzhong ORCID: and Jenkins, Nick ORCID: 2019. A general form of smart contract for decentralised energy systems management. Nature Energy 4 , pp. 140-149. 10.1038/s41560-018-0317-7

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Smart contract platforms have the potential to allow shared automatic control of energy transfer within networks in a replicable, secure, verifiable and trustworthy way. Here we present a general form of smart contract which captures the elements needed for shared control that will help formalise decentralisation. Two mechanisms were defined for agreement of control instructions for a Medium Voltage Direct Current (MVDC) link connecting two separately operated 33kV distribution networks. These were instantiated as smart contracts and were evaluated in terms of cost and the computational requirements for their execution. Real network and converter data from the ANGLE-DC demonstration project were used to model the MVDC link. We demonstrate that using smart contracts to agree control instructions between different parties is feasible. The potential for shared control using smart contracts gives operators and regulators a way of defining and decentralising operating responsibilities within energy systems.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Engineering
Subjects: T Technology > T Technology (General)
T Technology > TK Electrical engineering. Electronics Nuclear engineering
Publisher: Springer Nature
ISSN: 2058-7546
Funders: EPSRC
Date of First Compliant Deposit: 18 December 2018
Date of Acceptance: 12 December 2018
Last Modified: 07 Nov 2023 08:58

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