IEEE Electrification - December 2020 - 82

Upper Level DSO Operation
DSO
MG 1

Network Reconfiguration
Equivalent
Load
DSO

Trading
Adjustment

Lower Level P2P Transactive Energy for MGs
MG 1

MG 2

MG 3

MG 2

(a)

Energy Trading
Amount and
Price

MG 3

(b)

Figure 1. The conventional and P2P transactive energy trading in electricity markets. (a) The conventional market. (b) P2P transactive
energy trading.

DSO Layer
MG 1

Rest of the
Distribution Grid

MG 3

MG 2

Equivalent Load
Market Layer

Trading Adjustment

DSO serves as a nonprofit authority with the responsibility of narrowing the gap between the wholesale and retail
markets for participating MGs. At the DSO layer, the DSO
optimizes the network configuration for reasons pertaining to economics (e.g., reducing network losses) and network security (e.g., mitigating voltage violations and line
congestions) by remotely controlling the line switches to
adapt the power distribution network topology. In addition, the DSO, which is connected to the transmission grid,
will participate in the bulk power market to make up the
difference between MG power generation and consumption in the power distribution network.

MG 1

Blockchain For P2P Trading
MG 2

Switch and Line

MG 3

Communication Link

Figure 2. A sample of P2P transactive energy trading.

balance local loads and external power is expensive. MGs
can adjust the use of noncritical loads to maintain the
local power balance at the lowest cost in the P2P transactive energy market.
Figure 2 depicts the market and the network layers of
the proposed P2P model in a power distribution network.
MGs trade energy at the market layer in which the DSO is
not involved since the DSO will not intervene in the P2P
energy trading among MGs. In the P2P market model, the

82

I E E E E l e c t r i f i cati o n M agaz ine / DECEMBER 2020

Introduction to Blockchain
Blockchain, which was first utilized in Bitcoin, is a decentralized, immutable, and shared digital ledger for recording
transactions. Figure 3 compares a conventional centralized
ledger without blockchain and a decentralized ledger with
the introduction of blockchain. In Figure 3(a), the ledger is
controlled only by one centralized authority (e.g., a bank or
an enterprise), and participants will submit transactions to
the central authority for any exchanges among participants. The submitted transactions will be executed after
the central authority approves and records the submitted
transactions on the ledger. In practice, the introduction of a
central authority increases the intermediary costs, and it
might occasionally be difficult to find a trusted central
authority. A blockchain is a shared database that provides a
secure and effective environment for decentralized data
management. The introduction of a blockchain removes



IEEE Electrification - December 2020

Table of Contents for the Digital Edition of IEEE Electrification - December 2020

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