A general form of smart contract for decentralized energy systems management

Lee Thomas (), Yue Zhou, Chao Long, Jianzhong Wu and Nick Jenkins
Additional contact information
Lee Thomas: Cardiff University
Yue Zhou: Cardiff University
Chao Long: Cardiff University
Jianzhong Wu: Cardiff University
Nick Jenkins: Cardiff University

Nature Energy, 2019, vol. 4, issue 2, 140-149

Abstract: Abstract 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 formalize decentralization. Two mechanisms were defined for agreement of control instructions for a medium-voltage direct-current (MVDC) link connecting two separately operated 33 kV 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 decentralizing operating responsibilities within energy systems.

Date: 2019
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DOI: 10.1038/s41560-018-0317-7

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