Keywords
smart contract
blockchain
aggregator
tokenization
local energy community
pricing
Pareto efficiency
How to Cite
Abstract
The paper proposes and scientifically substantiates the concept of a smart contract for organizing commercial interaction among participants in a local decentralized electricity market. The concept envisages the application of blockchain technology to automate trade execution, the introduction of internal accounting units (tokens) to account for offset electricity volumes, and the provision of a transparent cost and benefit allocation mechanism through the functions of an aggregator acting as a Balance Responsible Party (BRP). A key feature of the approach is the use of a stable (fixed) smart contract price to isolate baseline offset volumes from external market volatility. Simulation modeling of a daily case study was conducted based on real price indicators of the Day-Ahead Market (DAM) and universal service provider tariffs in Ukraine as of May 2026. The Pareto efficiency of the proposed approach has been experimentally proven: under conditions of low daytime prices in the external market, internal clearing at a smart contract price of 5 UAH/kWh made it possible to increase distributed generation revenue by 262% while simultaneously reducing consumer expenses by 34.26%. Based on the obtained results, basic requirements for prospective adaptive pricing algorithms of the blockchain platform were formulated. Bibl. 30, figs. 8, table.
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