A Design for a Secure Energy Market Trading System in a National Wholesale Electricity Market

Tesfamicael, Aklilu Daniel; Liu, Vicky; McKague, Matthew; Caelli, William; Foo, Ernest

doi:10.1109/access.2020.3009356

Cited by 25 publications

(9 citation statements)

References 39 publications

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“…Samuel and Javaid (2021) build trading programs based on consortium-based blockchain to attain the required trading efficiency among plugin hybrids and EVs in an electrical market. Tesfamicael et al (2020) propose a multi-signature blockchain to enable security transaction in smart grid with decentralized energy trading without relying on third parties. Secured peer-to-peer trading among storage technologies and various edge users in the domestic, industrial, and commercial sectors are accomplished via smart contracts in Thukral (2021) and Vivar et al (2021).…”

Section: Blockchain For Virtual Layer Of P2p Tradingmentioning

confidence: 99%

RETRACTED: Recent Trends, Challenges, and Future Aspects of P2P Energy Trading Platforms in Electrical-Based Networks Considering Blockchain Technology: A Roadmap Toward Environmental Sustainability

et al. 2022

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Peer-to-peer (P2P) energy trading platform is an upcoming energy generation and effective energy managing strategy that rewards proactive customers (acting as prosumers) in which individuals trade energy for products and services. On the other hand, P2P trading is expected to give multiple benefits to the grid in minimizing the peak load demand, energy consumption costs, and eliminating network losses. However, installing P2P energy trading on a broader level in electrical-based networks presents a number of modeling problems in physical and virtual network layers. As a result, this article presents a thorough examination of P2P studies of energy trade literature. An overview is given with the essential characteristics of P2P energy trading and comparatively analyzed with multiple advantages for the utility grid and individual prosumers. The study then addresses the physical and virtual levels that systematically categorize the available research. Furthermore, the technological techniques have been gone through multiple problems that need to overcome for P2P energy trading in electrical networks. Finally, the article concludes with suggestions for further research.

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Section: Blockchain For Virtual Layer Of P2p Tradingmentioning

confidence: 99%

RETRACTED: Recent Trends, Challenges, and Future Aspects of P2P Energy Trading Platforms in Electrical-Based Networks Considering Blockchain Technology: A Roadmap Toward Environmental Sustainability

et al. 2022

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“…A limited number of research articles studied the application of blockchain technology on wholesale markets compared to P2P energy trading. For instance, the authors of [86] developed a blockchain-based wholesale market considering the Australian wholesale market as a case study. They aim to increase the security of the wholesale market trading system and improve the visibility of energy transactional data for end consumers so they can track the source of electric energy delivered to them.…”

Section: B Wholesale Marketsmentioning

confidence: 99%

Review of Blockchain Potential Applications in the Electricity Sector and Challenges for Large Scale Adoption

2022

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Blockchain technology applications in the electricity sector are getting considerable attention from both academia and industry. It is expected that blockchain will play an important role in the transition to the smart grid. The blockchain applications in the electricity sector can be classified to optimizing existing processes like metering and billing or grid management and using blockchain for emerging applications such as creating new platforms for value exchange like peer-to-peer (P2P) energy trading. This paper briefly introduces the fundamentals of blockchain technology, such as different types of blockchain networks and consensus mechanisms, in addition to introducing a few blockchain platforms that are widely used in current studies, projects, and startups or may have future potential in the electricity sector applications. The contribution of this paper is to provide a review of potential applications of blockchain in many electricity sector use cases, and they are categorized into eight categories such as P2P energy trading, wholesale markets, retail markets, metering and billing, trading of renewable energy certificates (RECs) and carbon credits, electric mobility, enhancement of power system cyber security, investments in renewable energy sources (RESs), and power system operation and management. Moreover, examples of research studies, pilot projects, industrial projects, startups, or companies investigating the blockchain capabilities at each potential application are introduced. Furthermore, the studies presented in each use case are compared to clarify and highlight the blockchain functions and involved actors. Finally, the paper discusses the challenges that blockchain technology is facing that obstruct large-scale adoption in different sectors and in the electricity sector specifically and potential solutions to these challenges that are being developed.INDEX TERMS Blockchain applications, distributed ledger technologies, distributed ledger technologies applications, peer-to-peer energy trading, local electricity markets, electric vehicles, smart grid.

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“…However, existing schemes have the issue that energy traders are highly dependent on energy brokers. The energy broker is an essential entity to facilitate energy trading, but an energy broker can be an individual and can not be considered fully trusted [25]. Therefore, if energy brokers are fully aware of information about energy tradings, such as the location and status of energy users, then privacy issues can arise.…”

Section: Introductionmentioning

confidence: 99%

A Privacy-Preserving Authentication Scheme for a Blockchain-Based Energy Trading System

Son,

Oh,

Kwon

et al. 2023

Mathematics

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The adoption of renewable energies such as solar power, heat pumps, and wind power is on the rise, and individuals have started generating energy using their own solar panels. In recent years, many blockchain-based energy trading schemes have been proposed. However, existing schemes cannot fully address privacy issues and dependency on energy brokers during energy trading. In this paper, we propose a privacy-preserving authentication scheme for blockchain-based energy traders. An energy user encrypts a request message through lightweight attribute-based encryption, and only energy sellers who have proper attribute keys can decrypt and conduct further processes with the energy user. We analyze the proposed scheme using both informal and formal methods, such as the BAN logic, AVISPA simulation tool, and RoR model. Furthermore, we compare the computational and communication costs of our scheme with related schemes and show that the proposed scheme has competitive performance.

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A Design for a Secure Energy Market Trading System in a National Wholesale Electricity Market

Cited by 25 publications

References 39 publications

RETRACTED: Recent Trends, Challenges, and Future Aspects of P2P Energy Trading Platforms in Electrical-Based Networks Considering Blockchain Technology: A Roadmap Toward Environmental Sustainability

RETRACTED: Recent Trends, Challenges, and Future Aspects of P2P Energy Trading Platforms in Electrical-Based Networks Considering Blockchain Technology: A Roadmap Toward Environmental Sustainability

Review of Blockchain Potential Applications in the Electricity Sector and Challenges for Large Scale Adoption

A Privacy-Preserving Authentication Scheme for a Blockchain-Based Energy Trading System

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