A Distributed and Robust Security-Constrained Economic Dispatch Algorithm Based on Blockchain

• Published in: IEEE transactions on power systems Vol. 37; no. 1; pp. 691 - 700
• Main Authors: Chen, Sijie, Zhang, Ling, Yan, Zheng, Shen, Zeyu
• Format: Journal Article
• Language: English
• Published: New York IEEE 01.01.2022; The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
• Subjects: Algorithms; Blockchain; Cryptography; Distributed algorithms; Distributed optimization; Economics; energy trading; Mathematical model; Optimization; Power transmission lines; robust and resilient algorithm; Robustness (mathematics); Security constrained power dispatch; security-constrained economic dispatch; Technological innovation
• ISSN: 0885-8950; 1558-0679
• DOI: 10.1109/TPWRS.2021.3086101

Distributed optimization algorithms for security-constrained economic dispatch (SCED) problems have been the subject of significant research interest in recent years. However, existing distributed SCED algorithms can be ineffective in the presence of malicious participants and inefficient in the absence of a coordinator. On the other hand, blockchain, an emerging technique known as the trust machine, has not shown its potential to address the above challenges in state-of-the-art literature. This paper proposes a blockchain-based distributed SCED algorithm. Using blockchain to form a coordination committee and enable balance among committee members, the proposed method allows the use of hierarchical SCED algorithms in the absence of a coordinator and can disable malicious participants. Numerical results show the robustness and necessity of the proposed blockchain-based SCED algorithm, by comparing the SCED results with and without blockchain.