Peer-to-Peer Electricity Market Based on Local Supervision

Khajeh, Hosna; Gazafroudi, Amin Shokri; Laaksonen, Hannu; Shafie‐khah, Miadreza; Siano, Pierluigi; Catalão, João P.S.

doi:10.1109/access.2021.3129050

Cited by 3 publications

(4 citation statements)

References 40 publications

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“…Exploiting the EVs' UF and DF capabilities, charging and discharging limits of the EV batteries should be satisfied. In this regard, inequalities (17) and (18) ). SoC of the EV batteries should be within the allowable limits when they are plugged in.…”

Section: Evsmentioning

confidence: 96%

“…UF and DF provision of the ESSs is limited based on ( 17) and (18). It is worth noting that the ESSs have been either charged or discharged at each time in energy market.…”

Section: Esssmentioning

confidence: 99%

“…A peer‐to‐peer local electricity market structure was studied in [17] to mitigate the photovoltaic (PV) units’ uncertainty via flexible loads, where the market objective is to maximize the PVs’ total revenue. Reference [18] presented a peer‐to‐peer local energy market in which the peers’ preferences to choose their trading partners and their buying/selling prices are considered. The local market is cleared with the aim of social welfare maximization.…”

Section: Introductionmentioning

confidence: 99%

“…In the mentioned references, local market for trading and coordinating flexibility provision in the distribution network is not considered. References [16][17][18][19][20][21][22][23][24] addressed local markets in their frameworks for trading flexibility. Reference [16] proposed an LFM clearing mechanism considering network constraints.…”

Section: Introductionmentioning

confidence: 99%

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A local flexibility market framework for exploiting DERs’ flexibility capabilities by a technical virtual power plant

Pourghaderi

Fotuhi‐Firuzabad

Moeini‐Aghtaie

et al. 2022

IET Renewable Power Gen

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This paper presents a new intra-day intra-hourly local flexibility market (LFM) framework to exploit distributed energy resources' (DERs) flexibility capabilities. A technical virtual power plant (TVPP) operates the LFM in which the DER aggregators participate. The TVPP offers the provided flexibility capabilities to wholesale flexibility market (WFM) as well as compensating the intra-hourly variability in power distribution network. In the proposed framework, the TVPP clears the LFM by considering hierarchical transactions with the aggregator agents to find the market equilibrium in which the DERs' flexibility capabilities are optimally exploited while all participating agents make profit by trading flexibility capabilities in the LFM. A bilevel optimization model with multiple lower levels is considered to address different agents' preferences and transactions in the LFM. In the upper-level problem, the TVPP aims at maximizing its profit while each lower-level problem represents an aggregator agent's optimization problem. The proposed model is reformulated into a single-level mixed integer linear programming problem and is implemented on the distribution network connected to Bus 5 of the Roy Billinton test system (RBTS) as well as a 119-bus test system. The results demonstrate the effectiveness of the model to utilize DERs' flexibility and provide revenue opportunities for different agents.

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Section: Evsmentioning

confidence: 96%

“…UF and DF provision of the ESSs is limited based on ( 17) and (18). It is worth noting that the ESSs have been either charged or discharged at each time in energy market.…”

Section: Esssmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

A local flexibility market framework for exploiting DERs’ flexibility capabilities by a technical virtual power plant

Pourghaderi

Fotuhi‐Firuzabad

Moeini‐Aghtaie

et al. 2022

IET Renewable Power Gen

View full text Add to dashboard Cite

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A Light Blockchain for Behind-the-Meter Peer-to-Peer Energy Transactions in Cyber-Physical Power Systems

Ding

Shahidehpour

et al. 2024

IEEE Trans. Smart Grid

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Market Mechanisms and Trading in Microgrid Local Electricity Markets: A Comprehensive Review

et al. 2023

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Electricity generation using distributed renewable energy systems is becoming increasingly common due to the significant increase in energy demand and the high operation of conventional power systems with fossil fuels. The introduction of distributed renewable energy systems in the electric grid is crucial for delivering future zero-emissions energy systems and is cost-effective for promoting and facilitating large-scale generation for prosumers. However, these deployments are forcing changes in traditional energy markets, with growing attention given to transactive energy networks that enable energy trading between prosumers and consumers for more significant benefits in the cluster mode. This change raises operational and market challenges. In recent years, extensive research has been conducted on developing different local energy market models that enable energy trading and provide the opportunity to minimize the operational costs of the distributed energy resources by promoting localized market management. Local energy markets provide a stepping stone toward fully transactive energy systems that bring adequate flexibility by reducing users’ demand and reflecting the energy price in the grid. Designing a stable regulatory framework for local electricity markets is one of the major concerns in the electricity market regulation policies for the efficient and reliable delivery of electric power, maximizing social welfare, and decreasing electric infrastructure expenditure. This depends on the changing needs of the power system, objectives, and constraints. Generally, the optimal design of the local market requires both short-term efficiencies in the optimal operation of the distributed energy resources and long-term efficiency investment for high quality. In this paper, a comprehensive literature review of the main layers of microgrids is introduced, highlighting the role of the market layer. Critical aspects of the energy market are systematically presented and discussed, including market design, market mechanism, market player, and pricing mechanism. We also intend to investigate the role and application of distributed ledger technologies in energy trading. In the end, we illuminate the mathematical foundation of objective functions, optimization approaches, and constraints in the energy market, along with a brief overview of the solver tools to formulate and solve the optimization problem.

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Peer-to-Peer Electricity Market Based on Local Supervision

Abstract: Date of publication xxxx 00, 0000, date of current version xxxx 00, 0000.

Cited by 3 publications

References 40 publications

A local flexibility market framework for exploiting DERs’ flexibility capabilities by a technical virtual power plant

A local flexibility market framework for exploiting DERs’ flexibility capabilities by a technical virtual power plant

A Light Blockchain for Behind-the-Meter Peer-to-Peer Energy Transactions in Cyber-Physical Power Systems

Market Mechanisms and Trading in Microgrid Local Electricity Markets: A Comprehensive Review

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