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Blockchain-Based Peer-to-Peer Energy Trading Method

Thompson, Myles J.; Sun, Hongjian; Jiang, Jing

Blockchain-Based Peer-to-Peer Energy Trading Method Thumbnail


Myles J. Thompson

Jing Jiang


Blockchain-enabled peer-to-peer energy trading provides a method for neighbours and communities to trade energy generated from local and distributed renewable energy sources. Effective matching can facilitate greater energy efficiency during transmission, increases user welfare through preference and improves power quality. The proposed algorithm builds upon work to develop a system of scoring an energy transaction. It uses a McAfee-priced double auction, and scores based upon preference of price, locality, and energy generation type, alongside the quantity of energy being traded. The algorithm pre-evaluates transactions to determine the optimal transactional pathway. The transaction carried out is that leading to the greatest cumulative score. Simulated over a range of scenarios, the proposed algorithm provides an average increase in user welfare of 75%. Commercially, the algorithm may be deployed in small to large settlements whilst remaining stable. By reducing power loss, the algorithm allows consumers to save 25% on their cost of energy, whilst providing a 50% increase in the revenue earned by prosumers.


Thompson, M. J., Sun, H., & Jiang, J. (2022). Blockchain-Based Peer-to-Peer Energy Trading Method. CSEE journal of power and energy systems, 8(5), 1318-1326.

Journal Article Type Article
Acceptance Date Jul 15, 2021
Online Publication Date Sep 10, 2021
Publication Date 2022-09
Deposit Date Jul 20, 2021
Publicly Available Date Jul 20, 2021
Journal CSEE Journal of Power and Energy Systems
Print ISSN 2096-0042
Publisher Institute of Electrical and Electronics Engineers
Peer Reviewed Peer Reviewed
Volume 8
Issue 5
Pages 1318-1326


Accepted Journal Article (946 Kb)

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