Using cryptographic technologies to provide security solutions in smart grid is extensively discussed in NISTIR 7628  and IEC 62351 standards series . Both series identify cryptographic key management for Intelligent Electronic Devices (IEDs) communication as one of the most important issues. In this paper, considering the system constraints and the security requirements in the smart grid, we propose an authenticated key exchange scheme with revocation by exploiting a well-known cryptographic protocol: Broadcast encryption , ,  using a media key block(MKB) . Furthermore, we show that our scheme is efficient in comparison with the PKI-signature based Internet Key Exchange(IKE) protocol, ,  in terms of the following points of view: (1) communication cost; (2) compuation cost; (3) device revocation cost. The comparison results show that our scheme is efficient and cost-effective in most cases for devices and systems in smart grid.
Note: As originally published there are errors in the document. On page 7, TABLE I: both instances of 2432 should be 2560; on line 3: 128 should be 256; and on line 5: 1984 should be 2112. The original PDF remains unchanged.