Cardiff University testing new regulatory model

Cardiff University is looking to assess the performance of algorithms it has devised to create a reputation factor for meters under the OpenLV project.

Cardiff University has developed a smart contract oriented regulatory model for public electricity networks. It uses a set of algorithms that assign a reputation factor to individual electricity meters. Each meter is compelled to predict future usage. The factor is then based on the quality of the meter’s demand and generation prediction.

This approach can reduce the possibility of “gaming” the system with reputation factors used to cut accessible rewards of meters with inconsistent predictions. However, it is not known which algorithms will best incentivise improved prediction performance.

Therefore, it is hoping to trial the real-time operation of the reputation algorithms within the OpenLV platform, running them using data gained from the project as input before analysing the outcome. The OpenLV project, running from January 2017 to January 2020, is trialling an open software platform in electricity substations, capable of monitoring performance and electricity demand.