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Abstract

According to the rapidly growing demand for electricity, as well as the emergence of various types of participants inside a Smart Grid (SG), it is necessary to develop a universal approach to ensure the beneficial interaction of all participants within a SG, thereby reducing the demand for electricity from the Utility Grid (UG). First, we introduce a universal approach to designing SGs of various structures, thereby aiming at the total benefit for all participants. Secondly, an algorithm for implementing a profitable pricing policy within a SG is implemented, as well as penal mechanisms are implemented. Moreover, a decentralized scheme of interaction between participants within a SG using blockchain technology is implemented. Finally, the effectiveness of the approach is checked taking into account various indicators, including a different number of participants and a time interval.

Publication Type:	Conference or Workshop Item (UNSPECIFIED)
Additional Information:	© 2020 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Publisher Keywords:	demand response; smart grid; blockchain
Subjects:	T Technology > TK Electrical engineering. Electronics Nuclear engineering
Departments:	School of Science & Technology > Engineering

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