Blockchain-based Stochastic Energy Management of Interconnected Microgrids Considering Incentive Price

Decomposing the large distribution grids into the interconnected microgrids (MGs) can potentially contribute to enhance the power system efficiency, sustainability, resiliency, and reliability. However, energy management within the entire network would be more complicated and challenging. This paper develops a novel energy management framework for interconnected MGs based on blockchain technology. Utilizing the blockchain technology can potentially enhance the system security, and also reduce the system risks, mitigate financial fraud, and cut down the operational cost. A priority list is first defined to get into an efficient energy trade-off within the interconnected MGs. Moreover, the incentive contract is proposed to provide a price discount for a party that purchases more power from one sub-MG. A stochastic framework based on the Unscented Transform (UT) technique is also established to manage the uncertainties associated with hourly load demands and output power of renewable energy sources. The proposed model is formulated as a mixed-integer linear programming (MILP) optimization problem and solved through the blockchain-based energy/power management algorith