An Industrial Park Load Shedding Scheme Based on Smart Contract

Abstract

Load shedding scheme is utilized to deal with black-outs caused by continuously growing loads. Conventional load shedding scheme repressively shed interruptible loads ignoring the economic profits of them. This paper proposes a smart contract based load shedding scheme in an industrial park. The proposed scheme incentivizes factories in the industrial park to actively shed their interruptible loads by designing a market that maximizes the total social welfare. Furthermore, the load shedding process is implemented using a smart contract to automatically obtain trustable and transparent load shedding results. The modified IEEE 33-bus distribution case proves that the proposed load shedding scheme effectively increases the profits of all participating factories and incentivizes them to shed their interruptible loads.