Presenting a Multi-stage Automated Pricing Mechanism for Energy Exchange in the Distribution Network Electricity Market Based on Smart Contracts on the Blockchain Platform

چکیده مقاله

The barriers to entry for small-scale renewable energy producers into decentralized electricity markets include the need for significant investment in infrastructure and management processes and the application of optimal and automatic pricing with consideration for multiple purchase and sale orders with low financial volume and consumption. Therefore, current market models for distribution networks face multiple challenges, including high transaction costs, lack of direct interaction between producers and consumers, and inefficiencies in supply and demand convergence. Additionally, energy transactions in centralized electricity markets are controlled by a central authority, leading to increased transaction costs. In other words, energy exchange researchers are seeking to develop a new distributed energy model to address the presumed challenges. The pricing strategy studied under the theory of double auction with factors and correction factors for adjusting updated prices in smart contracts is introduced to create a balance between supply and demand during different market execution cycles. This model is implemented on a blockchain platform using the developed environment Visual Studio Code (VSC) and simulated on an IEEE 33-bus network with 10 nodes, and the results obtained show the efficiency
of the method in increasing acceptance and support for renewable energy participation with the ability to prioritize energy supply for sensitive and critical loads in the network. The novel contributions of this work include a dynamic multi-stage auction mechanism with correction factors, a decentralized settlement system reducing transaction costs by 25%, and a prioritization algorithm for critical loads, demonstrating a 92% efficiency in supply-demand balance