Multiscale design for system-wide peer-to-peer energy trading

Morstyn, Thomas; Savelli, Iacopo; Hepburn, Cameron

doi:10.1016/j.oneear.2021.04.018

Cited by 23 publications

(10 citation statements)

References 82 publications

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“…The LEM presented in Jalali et al [55] goes further and does not allow participants to see each other's bids by introducing an independent economic entity that settles the market privately. Morstyn et al [56] shows a P2P energy framework that allows prosumers to retain control of bids and negotiations and gives individual decision-making in order to increase the privacy of participants. Finally, in Dukovska et al [57] a P2P LEM is presented that uses a distributed approach to improve the privacy of participants and minimizes the electricity procurement costs.…”

Section: Privacy Responsibility and Othersmentioning

confidence: 99%

“…Another example is a market framework where participants send a bid to an agent, which then places bids on behalf of the participant in a local P2P market but also in the national day-ahead and intraday markets [65]. Comparable frameworks can be found in [35,49,50,52,56,60,61]. Finally, a consortium existing of Dutch key players in the Dutch energy chain has developed the Universal Smart Energy Framework (USEF) that sets communication and trading protocols for most stakeholders to allow the use of flexibility for congestion management and ancillary services [67].…”

Section: Frameworkmentioning

confidence: 99%

“…In [54] privacy is part of operating the market decentrally and therefore allowing participants to host their own data storage to ensure privacy. Another way privacy can be implemented in a LEM is by allowing participants to set their individual preferences for autonomy and privacy [56]. Finally, one of the LEMs presented has implemented a step in the middle that ensures that participants cannot see each other's bids and the information is not shared with the DSO [55].…”

Section: Data Privacymentioning

confidence: 99%

See 2 more Smart Citations

Challenges for large-scale Local Electricity Market implementation reviewed from the stakeholder perspective

Doumen

Nguyen

Kok

2022

Renewable and Sustainable Energy Reviews

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Section: Privacy Responsibility and Othersmentioning

confidence: 99%

Section: Frameworkmentioning

confidence: 99%

Section: Data Privacymentioning

confidence: 99%

See 1 more Smart Citation

Challenges for large-scale Local Electricity Market implementation reviewed from the stakeholder perspective

Doumen

Nguyen

Kok

2022

Renewable and Sustainable Energy Reviews

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“…However, [15] claimed that many of them explored BMI design with hypothetical examples, and only a few studies presented empirical evidence of these BMI. These studies have also been primarily focused on analysing the features of specific prosumer-centered BMIs; for instance, their design framework, agorithm, and enabling technologies [16][17][18]. Only a few studies have taken a systematic perspective to understand how these BMIs interact with the various external factors shaping their development, such as regulatory frameworks, technological innovations, customer needs, and infrastructure [19].…”

Section: Introductionmentioning

confidence: 99%

Business Model Innovations for Renewable Energy Prosumer Development in Germany

et al. 2022

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In Germany, the number of renewable energy prosumers has increased rapidly since 2000. However, the development of prosumers has faced and will continue to face various economic, social, and technological challenges, which have triggered the emergence of a number of innovative business models (BM). This paper enriches the empirical basis for prosumer-oriented BMs by investigating two BM innovations in Germany (P2P electricity trading and aggregation of small-size prosumers) drawing on business model and socio-technical transition theories. A mix of qualitative data collection methods, including document analysis and semi-structured expert interviews, was applied. We found that while both BMs can potentially address the challenges associated with renewable energy prosumer development in Germany, small-scale prosumers’ participation in both BMs has been limited so far. We identified various internal and external drivers and barriers for scaling up these BMs for prosumer development in Germany. Despite these barriers, both aggregation and centralized P2P targeting prosumers may potentially be also taken up by incumbent market actors such as utilities. Decentralized P2P on the other hand still faces significant internal and external barriers for upscaling. Based on the analysis, the paper provides policy recommendations with respect to the identified drivers and barriers. From a theoretical perspective, our findings provide further evidence to challenge the dichotomous understanding of niche actors and incumbents, the latter of which are often theorized to be resistant to radical innovations.

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“…However, there is a growing concern that benefits from P2P markets can be diminished by emerging challenges [3], [4]. The inherent variability and limited controllability of renewable resources, as well as the stochastic nature of endusers consumption pose a fundamental challenge to deploy P2P markets [5].…”

Section: Introductionmentioning

confidence: 99%

Call-options in Peer-to-Peer Energy Markets

Guerrero

Morstyn

2021

2021 IEEE PES Innovative Smart Grid Technologies - Asia (ISGT Asia)

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This paper proposes the novel application of calloptions for financial loss mitigation in a peer-to-peer (P2P) energy market. P2P energy markets present the opportunity for endusers to trade electricity among themselves by managing their electricity usage and production capabilities. But variability characteristics of renewable resources pose a fundamental challenge to their integration into the grid as well as participating in emerging P2P energy markets. The growing penetration of renewable supply will increase the need for tools to mitigate potential energy traders' financial losses. This paper proposes and evaluates the application of call-option contracts in P2P markets to hedge against financial losses related to power shortfall in renewable supply. A case study is presented, showing that P2P traders might have to bear financial losses when they cannot meet their market obligations, and how options can be used to mitigate such losses.

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Multiscale design for system-wide peer-to-peer energy trading

Cited by 23 publications

References 82 publications

Challenges for large-scale Local Electricity Market implementation reviewed from the stakeholder perspective

Challenges for large-scale Local Electricity Market implementation reviewed from the stakeholder perspective

Business Model Innovations for Renewable Energy Prosumer Development in Germany

Call-options in Peer-to-Peer Energy Markets

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