Blockchain Based Grid Operation Services for Transactive Energy Systems
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Transactive Energy Systems (TES) are modern electric power systems that enable decentralized owners of power generation assets to engage in energy transactions and provide computing services that improve the performance of power system operation. Blockchain technology is a key enabler of TES, allowing peers to engage in trustless, persistent transactions that are both enforceable and auditable. However, previous work within this context has not adequately explored fraudulent service transactions amongst peers, and its potential negative impact on power system operation. To that end, this paper proposes a blockchain based TES that enables distributed peers (known as agents), to receive incentives for providing grid operation services in the form of voltage regulation, which is a critical operational service. The proposed system i) maintains a trustless reputation rating for each agent that is increased proportionately with each transaction that improves grid operation, ii) utilizes smart contracts to enforce the validity of each transaction and penalizes reputation ratings in case of a fraudulent transaction, iii) automates the negotiation and bidding of agent services by implementing the contract net protocol (CNP) as a smart contract. Experimental results on both simulated and real-world power systems are executed to demonstrate the efficacy of the proposed system.
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