A Novel Price Discovery Insurance Scheme for Outage Resilient Energy Management System

This paper presents a new insurance scheme for price discovery, which is designed to enhance the resilience of an energy management system against outages. The utilisation of blockchain technology facilitates the smooth processing of insurance premium payments and the secure retention of crucial data. The utilisation of fuzzy logic within the MATLAB results in the production of a criticality score, which facilitates the optimization of electricity distribution in accordance with both customer budgetary constraints and criticality considerations. The utilization of continuous optimisation techniques within the MATLAB improves cost-effectiveness in energy systems by taking into account the presence of multiple energy carriers. The efficacy of the proposed approach in providing dependable and cost-effective electricity is comprehensively assessed via simulations conducted in GAMS and MATLAB. The incorporation of blockchain technology guarantees transparency and dependability in insurance procedures, whereas the criticality score based on fuzzy logic accommodates the specific requirements of each customer. Continuous optimization techniques have been found to effectively reduce costs, thereby facilitating the efficient utilization of energy resources. The present study illuminates the capacity of the suggested plan to enhance resilience and cost-efficiency in the distribution of electricity.