1. A Novel electricity Transaction Mode of Microgrids Based on Blockchain and Continuous Double Auction
Source: Energies, Vol. 10, No. 12, November 2017
Authors: Jian Wang, Qiang-Gang Wang, Nian-Cheng Zhou, and Yuan Chi
Speaker: Chit-Jie Chew
Date: 10/11/2018

2. Outline Introduction Related works Proposed scheme
Performance analysis
Conclusions

3. Introduction Consumer Distributed generation(DG) Consumer Power grid
Markets
Distributed generation(DG)
Consumer

4. Related work Market Low-to-high High-to-low Price: 10200/unit Unit: 3
Consumer1
DG1
Price: 10500/unit
Unit: 1
Price: 10000/unit
Unit: 3
Consumer2
DG2
Price: 10800/unit
Unit: 4
Price: 9900/unit
Unit: 4
Consumer3
DG1

5. Related work
Miners
Miner
Transaction
DG1
Consumer1

6. Proposed scheme Markets Quotes Quotes DGs Information Information
Consumers
Digital certificate
Digital certificate
Transaction costs
Blockchain
Transaction costs
Grid
Power energy

7. Proposed scheme Update Transaction price Market information
𝑝 𝑜𝑏𝑖𝑑 , 𝑝 𝑜𝑎𝑠𝑘
Markets
Competitive
equilibrium price
estimation 𝜏 𝑝
𝑝 ′
Aggressiveness
model
Pricing strategy
𝑣,𝑐
𝑀𝑖𝑛,𝑀𝑎𝑥
𝑣,𝑐
𝑀𝑖𝑛,𝑀𝑎𝑥
𝑟,𝜃
Price
constraints
𝑝 ′
Adaptive
learning

8. Proposed scheme Aggressiveness model Intra-marginal Extra-marginal
𝜏 𝑖𝑛,𝑏 = 𝑝 ′ −𝑀𝐼𝑁 1− 𝑒 −𝑟𝜃 −1 𝑒 𝜃 −1 +𝑀𝐼𝑁 𝑟∈(−1,0) 𝑝 ′ + 𝑣− 𝑝 ′ 𝑒 𝑟𝜃 −1 𝑒 𝜃 − 𝑟∈ 0,1
𝜏 𝑒𝑥,𝑏 = 𝑣−𝑀𝐼𝑁 1− 𝑒 −𝑟𝜃 −1 𝑒 𝜃 −1 +𝑀𝐼𝑁 𝑟∈(−1,0) 𝑣 𝑟∈ 0,1
𝜏 𝑖𝑛,𝑠 = 𝑝 ′ + 𝑀𝐴𝑋− 𝑝 ′ 𝑒 −𝑟𝜃 −1 𝑒 𝜃 − 𝑟∈ −1, 𝑐+ 𝑝 ′ −𝑐 1− 𝑒 𝑟𝜃 −1 𝑒 𝜃 − 𝑟∈ 0,1
𝜏 𝑖𝑛,𝑠 = 𝑐+ 𝑀𝐴𝑋−𝑐 𝑒 −𝑟𝜃 −1 𝑒 𝜃 − 𝑟∈ −1, 𝑐 𝑟∈ 0,1

9. Proposed scheme Competitive 𝑝 ′ equilibrium price Aggressiveness
estimation
𝑝 ′
Aggressiveness
model
𝑟 𝑡+1 =𝑟 𝑡 + 𝛽 1 𝛿 𝑡 −𝑟 𝑡
𝛿 𝑡 = 1+𝜆 𝑟 𝑠ℎ𝑜𝑢𝑡 𝑡 ,𝜆= −0.05, 0, 0.05
𝑝 ′ = 𝑖=𝑚−𝑛 𝑛 𝑤 𝑖 𝑝 𝑖
𝜃 𝑡+1 =𝜃 𝑡 + 𝛽 2 𝜃 ′ 𝛼 +𝜃 𝑡
𝛼= 1 𝑛 𝑖=𝑚−𝑛 𝑛 𝑝 𝑖 − 𝑝 ′ 𝑝 ′
𝜃 ′ 𝛼 = 𝜃 𝑚𝑎𝑥 − 𝜃 𝑚𝑖𝑛 1− 𝛼− 𝛼 𝑚𝑖𝑛 𝛼 𝑚𝑎𝑥 − 𝛼 𝑚𝑖𝑛 𝑒 2 𝛼− 𝛼 𝑚𝑖𝑛 𝛼 𝑚𝑎𝑥 − 𝛼 𝑚𝑖𝑛 −1 + 𝜃 𝑚𝑖𝑛
𝑟,𝜃
𝑤 𝑖−1 =𝜌 𝑤 𝑖
𝑖=𝑚−𝑛 𝑛 𝑤 𝑖 =1
Adaptive
learning

10. Proposed scheme 𝜏 Aggressiveness model Pricing strategy
𝑝 𝑏 𝑡 = 𝑝 𝑂𝑏𝑖𝑑 𝑡 +𝜂 𝑚𝑖𝑛 𝑣, 𝑝 𝑂𝑎𝑠𝑘 𝑡 − 𝑝 𝑂𝑏𝑖𝑑 𝑡 , 𝑡=1 𝑝 𝑂𝑏𝑖𝑑 𝑡 +𝜂 𝜏 𝑏 𝑡 − 𝑝 𝑂𝑏𝑖𝑑 𝑡 , 𝑡≥2
𝑝 𝑠 𝑡 = 𝑝 𝑂𝑎𝑠𝑘 𝑡 −𝜂 𝑝 𝑂𝑎𝑠𝑘 𝑡 −𝑚𝑎𝑥 𝑐, 𝑝 𝑂𝑏𝑖𝑑 𝑡 , 𝑡=1 𝑝 𝑂𝑎𝑠𝑘 𝑡 −𝜂 𝑝 𝑂𝑎𝑠𝑘 𝑡 −𝜏 𝑠 𝑡 , 𝑡≥2

11. Proposed scheme Blockchain Transferring bitcoins Issuing energy money
Arbitration refund
DGs
Consumers
Third party

12. Performance analysis

13. Performance analysis

14. Performance analysis

15. Performance analysis

16. Conclusions Decentralized transactions Market equilibrium
Multi-signature