Secure and Privacy-Friendly Local Electricity Trading and Billing in Smart Grid

TL;DR

This paper introduces decentralized, secure, and privacy-preserving protocols for local electricity trading and billing in smart grids, enabling efficient transactions and billing without compromising user privacy.

Contribution

It presents novel protocols for decentralized electricity trading and privacy-friendly billing, validated through implementation and performance testing with realistic data.

Findings

Trading protocol handles 2500 bids in under five minutes

Protocols ensure privacy without revealing detailed consumption data

Feasible for real-time electricity trading periods

Abstract

This paper proposes two decentralised, secure and privacy-friendly protocols for local electricity trading and billing, respectively. The trading protocol employs a bidding algorithm based upon secure multiparty computations and allows users to trade their excess electricity among themselves. The bid selection and calculation of the trading price are performed in a decentralised and oblivious manner. The billing protocol is based on a simple privacy-friendly aggregation technique that allows suppliers to compute their customers' monthly bills without learning their fine-grained electricity consumption data. We also implemented and tested the performance of the trading protocol with realistic data. Our results show that it can be performed for 2500 bids in less than five minutes in the on-line phase, showing its feasibility for a typical electricity trading period of 30 minutes.