• Title/Summary/Keyword: P2P Power Transaction

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Implementation of Prosumer Management System for Small MicroGrid (소규모 마이크로그리드에서 프로슈머관리시스템의 구현)

  • Lim, Su-Youn;Lee, Tae-Won
    • The Journal of Korea Institute of Information, Electronics, and Communication Technology
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    • v.13 no.6
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    • pp.590-596
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    • 2020
  • In the island areas where system connection with the commercial power grid is difficult, it is quite important to find a method to efficiently manage energy produced with independent microgrids. In this paper, a prosumer management system for P2P power transaction was realized through the testing the power meter and the response rate of the collected data for the power produced in the small-scale microgrids in which hybrid models of solar power and wind power were implemented. The power network of the microgrid prosumer was composed of mesh structure and the P2P power transaction was tested through the power meter and DC power transmitter in the off-grid sites which were independently constructed in three places. The measurement values of the power meter showed significant results of voltage (average): 380V + 0.9V, current (average): + 0.01A, power: 1000W (-1W) with an error range within ±1%. Stabilization of the server was also confirmed with the response rate of 0.32 sec. for the main screen, 2.61 sec. for the cumulative power generation, and 0.11 sec for the power transaction through the transmission of 50 data in real time. Therefore, the proposed system was validated as a P2P power transaction system that can be used as an independent network without transmitted by Korea Electric Power Corporation (KEPCO).

Estimation of Electric Power Trading Price between Prosumer and Consumer Under Time-of-Use (TOU) (계시별 전기요금에서의 프로슈머와 소비자간 전력거래 가격추정)

  • Lee, Yungjoon;Park, Soojin;Yoon, Yongbeum
    • New & Renewable Energy
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    • v.17 no.2
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    • pp.1-8
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    • 2021
  • We estimated the price range of electricity transactions under the prosumer system, considering the spread of renewable energy and the prospect of introducing a surplus power trading system between power consumers in Korea. The range (min/max) of power transaction prices was estimated by prosumers and consumers who could purchase electricity from utilities if needed. It is assumed that utilities purchased electricity from prosumers and consumers under a Time-of-Use (TOU) rate, trading at a monthly price. The range of available transaction prices according to the amount of power purchased from utilities and the amount of transaction power was also estimated. The price range that can be traded is expected to vary depending on variables such as the TOU rate, purchased and surplus power, levelized cost of electricity, etc.

The Importance of a Borrower's Track Record on Repayment Performance: Evidence in P2P Lending Market

  • KIM, Dongwoo
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.7
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    • pp.85-93
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    • 2020
  • In peer-to-peer (P2P) loan markets, as most lenders are unskilled and inexperienced ordinary individuals, it is important to know the characteristics of borrowers that significantly impact their repayment performance. This study investigates the effects and importance of borrowers' past repayment performance track record within the platform to identify its predictive power. To this end, I analyze the detailed loan repayment data from two leading P2P lending platforms in Korea using a Cox proportional hazard, multiple linear regression, and logit models. Furthermore, the predictive power of the factors proxied by borrowers' track records are evaluated through the receiver operating characteristic (ROC) curves. As a result, it is found that the borrowers' past track record within the platform have the most important impact on the repayment performance of their current loans. In addition, this study also reveals that the borrowers' track record is much more predictive of their repayment performance than any other factor. The findings of this study emphasize that individual lenders must take into account the quality of borrowers' past transaction history when making a funding decision, and that platform operators should actively share the borrowers' past records within the markets with lenders.

The Effects of Adolescent Consumers' Attitudes toward Money and Conspicuous Consumption on Unethical Consumption Behavior in Commercial Transaction (청소년 소비자의 돈에 대한 태도와 과시소비성향이 비윤리적 소비행동에 미치는 영향)

  • Park, Myung-Sook
    • The Korean Journal of Community Living Science
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    • v.23 no.4
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    • pp.509-522
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    • 2012
  • The purpose of this study was to explore the effects of adolescent consumers' attitudes toward money and conspicuous consumption on unethical consumption behavior in commercial transactions. The main survey was conducted targeting 290 middle and high school students. As a result of this research, first in the case of adolescent's attitudes toward money, the symbol for happiness and success was 3.11 and the means of control was 1.77 respectively. The level of conspicuous consumption behavior was 2.75 and the level of unethical consumption behavior scored as passive unethical consumption behavior was 1.38 while the active unethical consumption behavior was 2.10. Second, in the case of the attitude toward money as a means of control, it differentiated according to the level of living and the amount of allowance. Conspicuous consumption behavior differentiated according to the amount of allowance and the father's education. Active unethical consumption behavior showed a difference according to the amount of allowance and the father's education. Multiple linear regression analysis conducted to identify relative effects of the variables that affect unethical consumption behavior, in case of passive unethical consumption behavior, showed that conspicuous consumption(${\beta}$=.23, p<.01) and attitudes toward money as a means of control(${\beta}$=.29, p<.001) with an explanatory power of 18%. In the case of active unethical consumption behavior, showed that sex(${\beta}$=.16, p<.05), father's education(${\beta}$=-.15, p<.05), attitudes toward money as means of control(${\beta}$=.18, p<.5) and conspicuous consumption(${\beta}$=.36, p<.001) with an explanatory power of 26%.

Blockchain for Securing Smart Grids

  • Aldabbagh, Ghadah;Bamasag, Omaimah;Almasari, Lola;Alsaidalani, Rabab;Redwan, Afnan;Alsaggaf, Amaal
    • International Journal of Computer Science & Network Security
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    • v.21 no.4
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    • pp.255-263
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    • 2021
  • Smart grid is a fully-automated, bi-directional, power transmission network based on the physical grid system, which combines sensor measurement, computer, information communication, and automatic control technology. Blockchain technology, with its security features, can be integrated with Smart Grids to provide secure and efficient power management and transmission. This paper dicusses the deployment of Blockchain technology in Smart Grid. It presents application areas and protocols in which blockchain can be applied to in securing smart grid. One application of each area is explored in detail, such as efficient peer-to-peer transaction, lower platform costs, faster processes, greater flexibility in power generation to transmission, distribution and power consumption in different energy storage systems, current barriers obstructing the implementation of blockchain applications with some level of maturity in financial services but concepts only in energy and other sectors. Wide range of energy applications suggesting a suitable blockchain architecture in smart grid operations, a sample block structure and the potential blockchain technicalities employed in it. Also, added with efficient data aggregation schemes based on the blockchain technology to overcome the challenges related to privacy and security in the smart grid. Later on, consensus algorithms and protocols are discussed. Monitoring of the usage and statistics of energy distribution systems that can also be used to remotely control energy flow to a particular area. Further, the discussion on the blockchain-based frameworks that helps in the diagnosis and maintenance of smart grid equipment. We have also discussed several commercial implementations of blockchain in the smart grid. Finally, various challenges have been discussed for integrating these technologies. Overall, it can be said at the present point in time that blockchain technology certainly shows a lot of potentials from a customer perspective too and should be further developed by market participants. The approaches seen thus far may have a disruptive effect in the future and might require additional regulatory intervention in an already tightly regulated energy market. If blockchains are to deliver benefits for consumers (whether as consumers or prosumers of energy), a strong focus on consumer issues will be needed.

The Determination of Trust in Franchisor-Franchisee Relationships in China (중국 프랜차이즈 시스템에서의 본부와 가맹점간 신뢰의 영향요인)

  • Shin, Geon-Cheol;Ma, Yaokun
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.2
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    • pp.65-88
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    • 2008
  • Since the implementation of economic reforms in 1978, the Chinese economy grows rapidly at an average annul growth rate of 9% over the post two decades. Franchising has been widely recognized as an important source of entrepreneurial activity. Trust is important in that it facilitates relational exchanges by permits partners to transcend short-run inequities or risks to concentrate on long-term profits or gains. In the relationship between the franchisors and franchisees, trust has been described as an important source of competitive advantage. However, little research has been done on the factors affecting trust in Chinese franchisor-franchisee relationships. The purpose of this study is to investigate what factors affect the trust in the franchise system in China, and to provide guidelines and insights to franchisors which enter Chinese market. In this study, according to Morgan and Hunt (1994), trust is defined as the extending when one party has confidence in an exchange partner's reliability and integrity. We offered a conceptual model of the empirical study. The model shows that the factors affecting the trust include franchisor's supports, communication, satisfaction with previous outcome and conflict. We also suggested the franchisor's supports and communication like to enhance the franchisee's satisfaction with previous outcome, and the franchisor's supports, communication and he franchisee's satisfaction with previous outcome tend to decrease conflict. Before the formal study, a pretest involving exploratory interviews with owners from three franchisees was conducted to make sure the questionnaire was relevant and clear to the respondents. The data were collected using trained interviewers to carry out personal interviews with the aid of an unidentified, muti-page, structured questionnaire. The respondents comprised of owners, managers, and owner managers of franchisee-owned food service franchises located in Beijing, China. Even though a total of 256 potential franchises were initially contacted, the finally usable sample consisted of 125 respondents. As expected, the sampling method was successful in soliciting respondents with waried personal and firm characteristics. Self-administrated questionnaires were used for all measures. And established scales were used to measure the latent constructs in this study. The measures tapped the franchisees' perceptions of the relationship with the referent franchisor. Five-point Likert-type scales ranging from "strongly disagree" (=1) to "strongly agree" (=7) were used throughout the constructs (trust, eight items; support, five items; communication, four items; satisfaction, six items; conflict, three items). The reliability measurements traditionally employed, such as the Cronbach's alpha, were used. All the reliabilities were greater than.80. The proposed measurement model was estimated using SPSS 12.0 and AMOS 5.0 analysis package. We conducted A series of exploratory factor analyses and confirmatory factor analyses to assess the convergent validity, discriminant validity, and reliability. The results indicate reasonable overall fits between the model and the observed data. The overall fit of measurement model were $X^2$= 159.699, p=0.004, d.f. = 116, GFI =.879, NFI =.898, CFI =.969, IFI =.970, TLI =.959, RMR =.058. The results demonstrated that the data reasonably fitted the model. We also examined construct reliability and reliability and average variance extracted (AVE). The construct reliability of each construct was greater than.80 and the AVE of each construct was greater than.50. According to the analysis of Structure Equation Modeling (SEM), the results of path model indicated an adequate fit of the model: $X^2$= 142.126, p = 0.044, d.f. = 115, GFI =.892, NFI =.909, CFI =.981, IFI =.981, TLI =.974, RMR =.057. As hypothesized, the results showed that it is strategically important to establish trust in a franchise system, and the franchisor's supports, communication and satisfaction with previous outcome tend to reinforce franchisee's trust. The results also showed trust seems to decrease as the experience of conflict episodes increases. And we also noticed that franchisor's supports and communication tend to enhance the franchisee's satisfaction with previous outcome, and communication tend to decrease conflict. If the trust between the franchisor and franchisee can be established in a franchise system, franchising offers many benefits and reduces many costs. To manage a mutual trust of relationship with their franchisees, franchisor's should provide support effectively to their franchisees. Effective assistant services have direct effect on franchisees' satisfaction with previous outcome and trust in franchisor. Especially, franchise sales process, orientation, and training in the start-up period are key elements for success of the franchise system. Franchisor's support is an accumulated separate satisfaction evaluation with different kind of service provided by the franchisor. And providing support definitely can improve the trustworthy image of the franchisor. In the franchise system, conflicts of interests and exertions of different power sources are very common. The experience of conflict episodes seems to negatively relate to trust. Therefore, it is important to reduce the negative side of the relationship conflicts. Communication actually plays a broader role in reducing conflict and establish mutual trust in franchisor-franchisee relationship. And effective communication between franchisors and franchisees can improve franchisees' satisfaction toward the franchise system. As the diversification of Chinese markets, both franchisors and franchisees must keep the relevant, timely, and reliable communication. And it is very important to improve the quality of communication. Satisfaction with precious outcomes seems to positively relate to trust. Franchisors and franchisees that are highly satisfied with the previous outcomes that flow from their relationship will perceive their partner as advancing their goal achievement. Therefore, it is necessary for both franchisor and their franchisees to make the welfare of partner with effort. Little literature has focused on what factors affect the trust between franchisors and their franchisees in China. This study developed the hypotheses regarding the factors affecting trust in the transaction relationship. The results of data analysis supported the hypotheses strongly. There are certain limitations in this study. First, we may point out that some other factors missed in this study could be significantly important. Second, the context of this study, food service industry, limits its potential generalizability for all franchise systems. More studies in different categories of franchise system are needed to broaden its generalizability. Third, the model was tested empirically in a sample in Beijing, more empirical tests of the proposed model in other Chinese areas are needed. Finally, the analysis in this study was solely based on the perception of franchisees and the opinions of franchisors were not included.

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