Blockchain Enabled Two-Stage Peer-to-Peer Trading in Integrated Energy Systems

Abstract

<p>In the peer-to-peer (P2P) trading process of integrated energy systems (IESs), unmatched energy orders reduce both trading efficiency and profits. This work proposes a two-stage peer-to-peer trading mechanism for energy hubs (EHs) with blockchain (BC) technology to mitigate unmatched orders. In particular, in the widely used continuous double auction (CDA) market, we first couple the day-ahead (DA) and real-time (RT) markets to facilitate a two-stage bidding strategy. The zero-intelligence plus (ZIP) quotation strategy is applied in the coupled time scales to improve the robustness and flexibility of the trading process. Furthermore, to preserve the privacy of EHs and improve trading efficiency during frequent information exchange, a consortium BC-based communication method is designed based on the consensus mechanism to avoid privacy leakage risks. Simulation results of 6 EHs in a distributed energy market (DEM) indicate that the energy costs could be reduced by mitigating the impact of both forecasting errors and unmatched orders. Besides, the consortium BC cuts down the transaction duration and preserves the privacy of the participating EHs.<br></p>