Distributed Ledger Technologies for Peer-to-Peer Local Markets in Distribution Networks

Matteo Troncia, Marco Galici, Mario Mureddu, Emilio Ghiani and Fabrizio Pilo
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Matteo Troncia: Department of Electrical and Electronic Engineering University of Cagliari, 09123 Cagliari, Italy
Marco Galici: Department of Electrical and Electronic Engineering University of Cagliari, 09123 Cagliari, Italy
Mario Mureddu: Department of Electrical and Electronic Engineering University of Cagliari, 09123 Cagliari, Italy
Emilio Ghiani: Department of Electrical and Electronic Engineering University of Cagliari, 09123 Cagliari, Italy
Fabrizio Pilo: Department of Electrical and Electronic Engineering University of Cagliari, 09123 Cagliari, Italy

Energies, 2019, vol. 12, issue 17, 1-19

Abstract: The newest Distributed Ledger Technology platforms, which delegate the execution of complex tasks in the form of Smart Contracts, make it possible to devise novel local electricity market frameworks, which are performed in a fully automated fashion. This paper proposes a novel fully automated platform for energy and ancillary service markets in distribution networks, able to run in a decentralized fashion, bypassing the need for a physical central authority. The proposed platform, able to perform the role of Virtual Decentralized Market Authority, shows excellent potential applications in the management of local ancillary service markets in local energy communities of various sizes. The proposed Virtual Decentralized Market Authority showed reasonable running costs and comparable technical management capabilities with respect to a physical, centralized managing authority.

Keywords: local energy markets; Distributed Ledger Technologies; Blockchain; smart contracts; Continuous Double Auction; ancillary services; peer to peer (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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