Research and Application of Blockchain Technology in the Distribution of Unbalanced Funds in the Spot Market

Abstract

In the third power adjustment operation and trial settlement in May 2020, the spot pilot project in Shandong Province generated nearly 100 million yuan of “unbalanced funds” in just four days, which caused high attention in the “power transformation circle”. In October, Shandong Provincial Energy Bureau issued the Notice on Improving the Settlement Work of the Third Electric Power Spot Market Settlement Trial Operation in Shandong Province, announced the allocation results of unbalanced funds of the third power adjustment operation and trial settlement in May 2020, and the unbalanced funds of external electricity allocation accounted for 53.42%. This paper plans to carry out the following research contents: the first is to research the causes of the unbalanced funds, analyze the difficulties existing in the coordination between the “non-market units” and the spot market in Shandong Province, and put forward solutions. The second is to study the application requirements and technical route of block chain technology in the unbalanced capital allocation in the spot market, and build the unbalanced capital allocation algorithm model of a specific power generation enterprise, so as to provide technical endorsement for the unbalanced capital allocation of power generation enterprises. The third is to design a set of unbalanced fund allocation mechanism suitable for the spot market of Shandong Province, and put forward specific measures to promote and apply.