An Electronic Double Auction of Prepaid Electricity Trading Using Blockchain Technology

Abstract

Thailand’s current energy trading system is an Enhanced Single Buyer (ESB), a market monopoly by a single buyer. It will produce and distribute electricity to service providers in each area, enabling them to distribute services to consumers. In terms of the consumer aspect, it is necessary to purchase electricity from only one seller, and it is not possible to choose the manufacturer independently. Since the price mechanism is not competitive, the market price is mainly determined by a single buyer. Meanwhile, alternative energy power generation technology has progressed. Anyone can become a power producer using wind power or solar energy. People can easily produce electricity to use in their households. Besides, residual energy from use will be sold only to the ESB. However, there is a selling restriction because there is only one buyer. Importantly, Blockchain technology can be applied to enable independent electricity trading. In other words, called peer-to-peer (P2P) trading, the Thai government has policies to promote P2P trading. However, there are not many systems supporting P2P energy trading since P2P trading is still in the beginning stages of the Pilot Project. In this study, the researchers have presented a P2P Power Trading Model using Blockchain technology. This research presents a system with efficiency and simplicity. Also, there are other technology highlights such as IoT, Lora, and Electronic Double Auction. The researcher has designed, implemented, and tested it for actual electrical power trading. It can prove to be traded according to the designed test cases. Importantly, we are truly confident that this research will benefit those interested in developing real-world applications. This research can also be used as an alternative to the traditional power purchase and sale system.

Efficient First-price Sealed E-auction Protocol Under Secure Multi-party Computational Malicious Model

“…The following is considered in two cases. 1) In executing the actual protocol, it is known that the input to the colluder depends on the probabilistic polynomial-time algorithm A described earlier, then the input to the protocol is denoted as X = (A(x 1 , ..., x n-1 ), x n ).…”

“…With the rapid development of the Internet, people are increasingly eager to move their auctions online, making them more flexible, convenient and fast to avoid the disadvantages of traditional auction methods in real life. Based on this, online electronic auctions have been flourishing [1]. At the same time, there are many problems with e-auctions, and the more prominent one in recent years is the problem of collusive attacks by malicious participants in the auction process.…”

Economic Pricing in Peer-to-Peer Electrical Trading for a Sustainable Electricity Supply Chain Industry in Thailand

“…Attention is paid to the buying and selling of electrical energy rates from renewable energy only. According to the previous study results of the double auction system [5], randomly simulating the generated and the consumed electrical energy data of four houses, consumers, and prosumers, are used as the initial data along with the buying and the selling prices of electrical energy. At that time, the procedures replicate the data re-established with the sale of N houses in the form of a double auction, then, the results are obtained to analyze the trading price trends by using the law of demand and supply in addition to the principle of the bipartite graph.…”

“…Table 3 shows a short summary of the related research works on energy trading platforms that used blockchain technology. It is obvious that some researchers studied an electrical energy trading scenario on local distribution networks and microgrids [6][7][8][9][10][11][12] with various methods such as game theory and double auction trade to set P2P energy trading platforms [5,[13][14][15], whilst others used case studies to prove their hypotheses and frameworks [5,16,17]. However, there were some limitations such as the exclusion of certain information from their works about prosumer trade confidentiality, economic conditions, and pricing optimization.…”

“…Some studies used the optimization approach to prevent energy loss for the suppliers, including power balance and energy management systems [22][23][24]. The others used the profit maximization algorithm (PMA) to increase productivity along For this study, a blockchain-based business model guideline for Thai electrical utility systems, as provided by Leelasantitham [2], was also utilized in the BT double-auction prepaid electricity trading platform [5,21]. The case study found that P2P transactions were direct purchases between the electricity producers and the consumers, which led to fewer operating steps and reduced electrical energy costs in the network.…”