Blockchain-Assisted Generation Rescheduling in Imperfect Market Environments

In the past three decades, there has been a sweeping trend in Western and developed countries worldwide to transform the vertically integrated electricity supply chain into competitive electricity markets to diversify investment in the system and ultimately drive down operation costs. Nonetheless, d...

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Main Authors: Salman Tariq, Mohamed Shaaban, Hazlie Mokhlis, Nurulafiqah N. Mansor, Hasmaini Mohamad
Format: Article
Language:English
Published: IEEE 2025-01-01
Series:IEEE Access
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Online Access:https://ieeexplore.ieee.org/document/10843675/
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author Salman Tariq
Mohamed Shaaban
Hazlie Mokhlis
Nurulafiqah N. Mansor
Hasmaini Mohamad
author_facet Salman Tariq
Mohamed Shaaban
Hazlie Mokhlis
Nurulafiqah N. Mansor
Hasmaini Mohamad
author_sort Salman Tariq
collection DOAJ
description In the past three decades, there has been a sweeping trend in Western and developed countries worldwide to transform the vertically integrated electricity supply chain into competitive electricity markets to diversify investment in the system and ultimately drive down operation costs. Nonetheless, due to some geopolitical and economic reasons, many developing countries adopted a modestly liberalized version of the power market (imperfect market). With the trend of privatization, specifically at the generation level, to leverage the hypothetical competitiveness, countries that did not adopt a full-fledged market structure face a dilemma. The system operators of incumbent imperfect market models find it increasingly difficult to deal with multiple private ownership of Independent Power Producers who are unwilling to share their detailed operational parameters for long-term generation scheduling (lasting for years). In this paper, Blockchain (BC) is being advocated as a platform that simulates a virtual market environment to address such issues. The proposed BC-based structure allows generators to participate in the short-term scheduling mechanism (such as day-ahead) in a trust-free environment without sharing their vital data yet achieving efficient, market-grade solutions. The feasibility of this new proposition is demonstrated through three different application scenarios, utilizing real-world load and renewable generation profiles sourced from the respective Grid System Operators databases. Python library (PYPSA) and Ethereum Testnet are being used for grid simulation and BC platform implementation respectively. The results of BC-assisted generation scheduling are presented and compared with the imperfect market model to highlight the viability of the proposed new approach.
format Article
id doaj-art-2f7807d190d6484696264691c7a1d917
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issn 2169-3536
language English
publishDate 2025-01-01
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spelling doaj-art-2f7807d190d6484696264691c7a1d9172025-01-28T00:01:14ZengIEEEIEEE Access2169-35362025-01-0113153241533810.1109/ACCESS.2025.353046910843675Blockchain-Assisted Generation Rescheduling in Imperfect Market EnvironmentsSalman Tariq0https://orcid.org/0009-0001-2294-1851Mohamed Shaaban1https://orcid.org/0000-0002-8267-7490Hazlie Mokhlis2https://orcid.org/0000-0002-1166-1934Nurulafiqah N. Mansor3https://orcid.org/0000-0003-2148-5775Hasmaini Mohamad4https://orcid.org/0000-0003-2633-0350Department of Electrical Engineering, Universiti Malaya, Kuala Lumpur, MalaysiaDepartment of Electrical Engineering, National Chung Cheng University, Chiayi, TaiwanDepartment of Electrical Engineering, Universiti Malaya, Kuala Lumpur, MalaysiaDepartment of Electrical Engineering, Universiti Malaya, Kuala Lumpur, MalaysiaSchool of Electrical Engineering, College of Engineering, Universiti Teknologi MARA, Shah Alam, Selangor, MalaysiaIn the past three decades, there has been a sweeping trend in Western and developed countries worldwide to transform the vertically integrated electricity supply chain into competitive electricity markets to diversify investment in the system and ultimately drive down operation costs. Nonetheless, due to some geopolitical and economic reasons, many developing countries adopted a modestly liberalized version of the power market (imperfect market). With the trend of privatization, specifically at the generation level, to leverage the hypothetical competitiveness, countries that did not adopt a full-fledged market structure face a dilemma. The system operators of incumbent imperfect market models find it increasingly difficult to deal with multiple private ownership of Independent Power Producers who are unwilling to share their detailed operational parameters for long-term generation scheduling (lasting for years). In this paper, Blockchain (BC) is being advocated as a platform that simulates a virtual market environment to address such issues. The proposed BC-based structure allows generators to participate in the short-term scheduling mechanism (such as day-ahead) in a trust-free environment without sharing their vital data yet achieving efficient, market-grade solutions. The feasibility of this new proposition is demonstrated through three different application scenarios, utilizing real-world load and renewable generation profiles sourced from the respective Grid System Operators databases. Python library (PYPSA) and Ethereum Testnet are being used for grid simulation and BC platform implementation respectively. The results of BC-assisted generation scheduling are presented and compared with the imperfect market model to highlight the viability of the proposed new approach.https://ieeexplore.ieee.org/document/10843675/Blockchaindecentralizationenergy marketsgeneration-scheduling
spellingShingle Salman Tariq
Mohamed Shaaban
Hazlie Mokhlis
Nurulafiqah N. Mansor
Hasmaini Mohamad
Blockchain-Assisted Generation Rescheduling in Imperfect Market Environments
IEEE Access
Blockchain
decentralization
energy markets
generation-scheduling
title Blockchain-Assisted Generation Rescheduling in Imperfect Market Environments
title_full Blockchain-Assisted Generation Rescheduling in Imperfect Market Environments
title_fullStr Blockchain-Assisted Generation Rescheduling in Imperfect Market Environments
title_full_unstemmed Blockchain-Assisted Generation Rescheduling in Imperfect Market Environments
title_short Blockchain-Assisted Generation Rescheduling in Imperfect Market Environments
title_sort blockchain assisted generation rescheduling in imperfect market environments
topic Blockchain
decentralization
energy markets
generation-scheduling
url https://ieeexplore.ieee.org/document/10843675/
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AT mohamedshaaban blockchainassistedgenerationreschedulinginimperfectmarketenvironments
AT hazliemokhlis blockchainassistedgenerationreschedulinginimperfectmarketenvironments
AT nurulafiqahnmansor blockchainassistedgenerationreschedulinginimperfectmarketenvironments
AT hasmainimohamad blockchainassistedgenerationreschedulinginimperfectmarketenvironments