Name
Abstract | ||
|---|---|---|
This letter proposes a novel
<italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">demurrage</italic>
mechanism for blockchain electricity marketplaces, whereby the redemptive value of energy-backed tokens declines with time. This mechanism is intended to reward organic price-responsive load shifting by incentivising the consumption of electricity when it is locally abundant. To demonstrate how such a demurrage mechanism might function in practice, this letter describes a mixed complementarity model of a notional token marketplace. These market simulations indicate that, in equilibrium and with rational actors, the demurrage mechanism creates price signals that temporally align the production and consumption of electricity. |
Year | DOI | Venue |
|---|---|---|
2019 | 10.1109/TSG.2019.2892554 | IEEE Transactions on Smart Grid |
Keywords | Field | DocType |
Blockchain,Generators,Load management,Optimization,Peer-to-peer computing,Smart contracts,Power markets | Complementarity (molecular biology),Load management,Load shifting,Electricity,Peer to peer computing,Control engineering,Blockchain,Engineering,Industrial organization,Security token,Notional amount | Journal |
Volume | Issue | ISSN |
10 | 2 | 1949-3053 |
Citations | PageRank | References |
2 | 0.38 | 0 |
Authors | ||
2 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Mel T. Devine | 1 | 3 | 1.43 |
| Cuffe, P. | 2 | 6 | 1.89 |