Market Value of Differentially-Private Smart Meter Data

04/20/2021

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by   Saurab Chhachhi, et al.

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This paper proposes a framework to investigate the value of sharing privacy-protected smart meter data between domestic consumers and load serving entities. The framework consists of a discounted differential privacy model to ensure individuals cannot be identified from aggregated data, a ANN-based short-term load forecasting to quantify the impact of data availability and privacy protection on the forecasting error and an optimal procurement problem in day-ahead and balancing markets to assess the market value of the privacy-utility trade-off. The framework demonstrates that when the load profile of a consumer group differs from the system average, which is quantified using the Kullback-Leibler divergence, there is significant value in sharing smart meter data while retaining individual consumer privacy.