Design and optimization of electricity market trading mechanism based on blockchain technology

An increasing number of distributed energy resources, acting as Supplier nodes, are participating in electricity market transactions. In order to meet the demand for large-scale renewable energy participation in the market, this article proposes a multi-layered electricity trading framework based on blockchain technology. This framework, with consortium chain technology at its core, is divided into network layer, regulatory layer, and physical layer. The feasibility of the proposed electricity trading model has been verified through simulation. Furthermore, this study divides the electricity trading process into stages, adopting noncooperative game theory for the bidding and clearing stages of trading nodes. After listing the remaining untraded nodes following the cycle auction, the node electricity price eventually converges to around 0.7 yuan/kW<middle dot>h in the simulation game. By solving the game, rational node matching is achieved, while also matching untraded nodes with trading partners. The established electricity trading model in this article aims to provide trading services to nodes under different trading scenarios as much as possible, thereby enhancing the utilization of distributed energy resources. Future work will focus on refining the blockchain technology used in our framework, particularly exploring optimizations for scalability and efficiency in handling a larger volume of transactions involving distributed energy resources.