Design of transnational and intercontinental electricity market with blockchain and token economics

Abstract

Transnational and intercontinental electricity trading (TIET) is a fundamental enabling component and efficient method to the development of Global Energy Internet (GEI),which aims to build an energy model centered on electricity consumption.The problems faced by TIET was analyzed,and a transnational and intercontinental electricity market (TIEM) based on blockchain and token economics was proposed.The TIEM was divided into five components,and each component was described and modeled respectively.A scale-up power grid based IEEE 39-nodes system was used to analyze the proposed market.The simulation results show that TIEM based on blockchain and token economy can ensure the effective implementation of cross-regional and multi-agent electricity transactions,and also encourage the generation companies (GENCOs) to participate in electricity market with clean energy.

Keywords

• blockchain;token economy;low-carbon development;market interests;intraday electricity market design