Towards a Local Electricity Trading Market based on Secure Multiparty Computation

This paper presents a local electricity trading market that allows users to trade excess electricity among themselves in a decentralised and privacy-preserving manner. Users who have more electricity generated by their renewable energy sources than they need for themselves, can sell this electricity to other users using a bidding mechanism based on secure multiparty computations. Based on the bidding prices the market computes the clearance price at which the electricity will be traded. Furthermore, it performs bid selection, as well as other market tasks. The use of secure multiparty computations ensures that neither external nor internal adversaries can compromise the privacy of any user.