A transactive energy model for smart metering systems using blockchain

Abstract

The lowering cost of electricity generation technologies by renewable means has caused the role of end-users to change from being a simple consumer to a producer of their energy. This new role has been called a prosumer and has contributed to modifying electricity markets, by allowing prosumers to merchandize the energy surplus to electricity companies and other prosumers. The fundamental key to any economic transaction is trust between the parties. Recently, new technologies, such as blockchain, are transforming transaction security, and allowing decentralization of the smart power grid. This study presents the development of a transactional model of electrical energy using the infrastructure of smart metering and blockchain systems to allow the commercialization of electrical energy by prosumers. The results show that for the Mexican electricity market, they can be good alternatives by reducing subsidies and being more profitable than current rates.