Preserving Privacy of Smart Meter Data in a Smart Grid Environment

The use of data from residential smart meters can help in the management and control of distribution grids. This provides significant benefits to electricity retailers as well as distribution system operators but raises important questions related to the privacy of consumers' information. In this article, an innovative differential privacy (DP) compliant algorithm is developed to ensure that the data from consumer's smart meters are protected. The effects of this novel algorithm on the operation of the distribution grid are thoroughly investigated not only from a consumer's electricity bill point of view but also from a power systems point of view. This method allows for an empirical investigation into the losses, power quality issues, and extra costs that such a privacy-preserving mechanism may introduce to the system. In addition, severalcost allocation mechanisms based on the cooperative game theory are used to ensure that the extra costs are divided among the participants in a fair, efficient, and equitable manner. Overall, the comprehensive results show that the approach provides privacy preservation in line with the consumer's preferences and does not lead to significant cost or loss increases for the energy retailer. In addition, the novel algorithm is computationally efficient and performs very well with a large number of consumers, thus demonstrating its scalability.

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