A Blockchain-based Spot Market Transaction Model for Energy Power Supply and Demand Network

Received: 18 December 2018 Accepted: 23 January 2019 The energy power supply and demand network (EPSDN) is difficult to be scheduled in a coordinated manner, due to the fluctuations in intraday power price. To solve the problem, this paper puts forward a blockchain-based spot market transaction model for the EPSDN, with the aim to enhance the intelligence, real-time performance and security of spot power market transactions. Specifically, intraday time-of-use (TOU) pricing mechanisms were introduced to minimize the negative impacts of intraday power price variation on the spot market; the leading influencing factors of spot power market were identified effectively among various factors through factor analysis; multiple purchase plans were optimized by the multi-objective search algorithm based on the particle swarm optimization (PSO), enabling the seller to optimize the purchase plan when multiple suppliers are available under the relaxation of control over direct power trading. On this basis, the real-time property of the transaction information was guaranteed through EPSDN-based information exchange. The case analysis shows that our transaction model outperformed the traditional centralized transaction model in transaction efficiency and security. The research findings shed new light on the operation of spot power market under partial decentralization.