The Local Energy Market (LEM) is a key element in the energy sector's transition toward a decentralized system, enabling the integration of a growing number of small generation sources and energy storage facilities located at end-user locations.By utilizing digital energy trading platforms provided by LEMs, small consumers, producers, and prosumers actively participate in system balancing, which, among others, allows them to increase profits and energy independence.The efficiency of energy exchange in LEM is achieved by means of optimization methods that make use of sensitive participant data, such as energy consumption profiles.Therefore, ensuring privacy while simultaneously ensuring trust in the achieved optimal quantitative and qualitative results is crucial.The classic technology used in decentralized systems, i.e., blockchain, does not provide adequate scalability when transactions result from solving optimization problems.In this article, we analyze the possibilities of verifying optimization results by the use of cryptographic zero-knowledge proofs (ZKP).We explain how ZKP can support privacy and enable verification of computations without the need of repeating them for every participant.We also refer to existing ZKP implementations on LEM, while highlighting the barriers of high computational costs that prevent direct implementation of complex optimization algorithms within ZKP protocols.'To overcome these barriers, we present an approach integrating ZKP with optimality certificates, which has significant potential to increase the efficiency of
The foundations of successful European Union policies and current initiatives on the adaptation of the energy sector to climate change, aimed at transforming Europe into a climate-neutral continent by 2050, are considered. A comprehensive analytical approach is proposed, consisting of regulatory, political and institutional analysis and elements of content analysis of EU strategic documents in the field of climate and energy, in particular the European Green Deal (2019), the EU Climate Law (2021), the "Fit for 55" Package (2021), the RED II / RED III Directive, the Energy Efficiency Directives (EED). Analysis shows that to achieve climate neutrality in the EU, a reduction of greenhouse gas emissions by 55 % by 2030 (compared to the 1990 level) is envisaged; increasing the share of renewable energy sources − up to 42.5 % by 2030; increasing energy efficiency − reducing total energy consumption by 11.7 % by 2030. The EU has developed the main policy directions for adapting the energy sector to climate change, in particular: integrating adaptation into energy policy (planning) at all levels; development of sustainable energy infrastructure (modernization of networks, decentralization of energy, investment in "smart grids"); development of renewable energy sources; financing and support for research; cooperation at the national and regional levels; monitoring and vulnerability assessment. Analysis of EU legislation in the fields of climate and energy indicates the functioning of a complex system of interconnected regulatory acts, which shapes European energy policy within the framework of the European Green Deal. This is what should become the basis for Ukraine's formation of its green deal, which has recently initiated. Keywords: energy sector, climate change, risk, adaptation, public policy, European Union.
This chapter deals with a topic that has been publicly debated in the North Macedonia in the last few years. The public utility companies are constantly in debt and with consistently poor quality of services. Hence, the main focus of the public debate is how to identify the causes of the persistent poor situation and how to overcome these problems facing the public utility systems. The primary aim of this chapter is to give an overview of the state in which public utility systems operate. Also, this chapter gives an overview of the importance of the institutional environment and decentralization and their impact on public utilities systems. At the end of the chapter, the sustainability of public utility companies and the financing of utility services and covering costs are presented.
Raúl Vega-Marcos, Antonio Colmenar‐Santos, Francisco Mur, Clara Pérez · 5 authors
The Green Pact signed by the European Union establishes a trend towards renewable energies to combat the greenhouse gas emissions. Among the technologies used to produce this type of energy, wind power generation technology stands out, which, in countries such as Spain, already has significant installed power. The main problems posed by this technology plans are the uncertainty intervals of wind power and its inclusion in the electricity market, due to the complex price system that does not always favor the producers. The main purpose of this research is to promote the installation of more wind power plants. For this, the installation of cryptocurrency mining equipment is proposed, which will be powered by the generation produced by these wind power plants. The article analyzes the production of cryptocurrencies is a growing business. In the research process, the latest cryptocurrency mining equipment is evaluated. It is analyzed which equipment is the most suitable for its installation in the wind power plant and an economic study is made for the construction project of a large wind power plant. Finally, it will be seen that in this way the amortization time of the facilities decreases and also the project is more attractive for the investor since they can decide between injecting energy into the electrical network or mining cryptocurrencies. If a wind power plant invests in cryptocurrency mining in parallel to the production of electrical energy for the grid, it can decide when to enter the electricity market pool or engage in mining. In this way, the idea of building many more wind power plants becomes more attractive. This would lead to a market where this renewable energy would be much more abundant and the price curve would shift to a lower price, as well as a significant reduction in greenhouse emissions.
European power system, as well as related national power systems are transforming from traditional, centralized and fossil fuel oriented power system, towards new, decentralized with a cornerstone in renewable energy sources. Path of this transition is challenging for transmission system operators (TSOs), taking into account an obligation that system security must be secured all the time. Taking into account above-mentioned TSOs, HOPS, NOS BiH and CGES with other partners, are participating in CROSSBOW project („CROSS BOrder management of variable renewable energies and storage units enabling a transnational Wholesale market“) financed by European Union Horizon 2020 framework. In this paper innovative CROSSBOW products will be presented as well as part of preliminary demonstration results.
Blockchain is a block chain technology that makes it possible to send and store information in a distributed way, creating a decentralized data register. The article presents the applications of blockchain technology in the field of power engineering, among others for use in the area of settlements on the electricity market. The work shows the possibilities of using and using block chains to describe the purchase and sale, generation and management of electricity. The work describes aspects of technology that allow partial or complete decentralization of the process. The article also shows how such transactions could be carried out automatically and without supervision - giving certainty of pre-established rules, rules and assumptions.