Peer‐to‐peer local electricity market platform pricing strategies for prosumers

Teotia, Falti; Mathuria, Parul; Bhakar, Rohit

doi:10.1049/iet-gtd.2019.0578

Cited by 26 publications

(15 citation statements)

References 30 publications

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Section: Introductionmentioning

confidence: 99%

“…Distributed energy resources (DERs), which include distributed generation, flexible loads, and energy storage systems (ESSs), are receiving considerable attention in the context of climate change and environmental concerns [1, 2]. However, as DER penetration grows, power systems confront new challenges [3, 4]. To tackle these issues, three solutions are presented in [5]: (1) expanding the grid, with the significant obstacle of high costs; (2) controlling DER for handling technical constraints by independent system operator (ISO); however, the privacy should be preserved; (3) utilizing the notion of transactive energy (TE) to manage the DER's energy trading and integrate more DER into the distribution grids.…”

Section: Introductionmentioning

confidence: 99%

“…(2) controlling DER for handling technical constraints by independent system operator (ISO); however, the privacy should be preserved; (3) utilizing the notion of transactive energy (TE) to manage the DER's energy trading and integrate more DER into the distribution grids. It was shown in [5] that the TE provides a better tool to support the system when the penetration of the DERs is high in the grid.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

A novel community‐based local electricity market for multiple communities with joint energy trading considering the risk of participation

Moradi

Moghaddam

Zamani

et al. 2022

IET Generation Trans & Dist

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Growing penetration of distributed energy resources (DER) leads to emerging changes and issues in future power systems. A system oprator aims to maximise demnad side energy trading while minimising energy improts from upstream grid. This paper proposes a reliable local energy market (LEM) trading mechanism in which consumers and prosumers can trade self-produced energy in a multiple community-based market (MCBM) framework to optimally provide the balance. The proposed framework intends to maximise social welfare by fair allocation of resources, increasing the provided reserve for the main grid, and shaving the peak power resulting in enhancement of network flexibility. The overall model is formulated in the style of a bi-level problem in which the lower-level clears the market and the upper-level is designated to redistribute the costs and benefits among market participants. Furthemore, the conditional value at risk (CVaR) approach is employed to evaluate how risk affects social welfare. Moreover, the impact of multiple communities and joint energy trading on the outcomes of the market is examined. The proposed model has been evaluated by analysing IEEE 33-bus standard test system, and numerical studies verify the effectiveness of the proposed approach.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

A novel community‐based local electricity market for multiple communities with joint energy trading considering the risk of participation

Moradi

Moghaddam

Zamani

et al. 2022

IET Generation Trans & Dist

View full text Add to dashboard Cite

show abstract

“…IET Generation, Transmission & Distribution published by John Wiley & Sons Ltd on behalf of The Institution of Engineering and Technology [5][6][7]. The pricing and energy management of the power system based on different optimization techniques is mostly taken into consideration [8].…”

Section: Introductionmentioning

confidence: 99%

“…Many researchers are conducted on the scheme of P2P energy trading [5–7]. The pricing and energy management of the power system based on different optimization techniques is mostly taken into consideration [8].…”

Section: Introductionmentioning

confidence: 99%

A multi‐objective optimization for planning of networked microgrid using a game theory for peer‐to‐peer energy trading scheme

Ali

Muyeen

Bizhani

et al. 2021

IET Generation Trans & Dist

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In this paper, a multi‐objective optimization technique is proposed for the planning of a networked microgrid based on peer‐to‐grid (P2G) and peer‐to‐peer (P2P) energy trading schemes. Two different criteria's including annual profit and energy index of reliability are taken into consideration to form a multi‐objective function. The networked microgrid consists of three individual microgrids containing their own combinations of generation resources, batteries and residential loads. All microgrids are connected together and also to the main grid to meet the energy exchange requirements of P2P energy trading. A cooperative game theory technique based on a particle swarm optimization algorithm is used to model the networked microgrid, and to find the suitable sizes of the players that simultaneously maximize the payoff values of both objective functions. Besides, a comparative analysis is carried out for both P2G and P2P energy trading schemes. The results show that the outcomes are maximum when both criteria are considered in the optimization and P2P energy trading is carried out. The sensitivity analysis is performed on the selected parameters and verified the right change 0.003% and 4.5% in discount rate and electricity prices, respectively.

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Research on pricing models for technology‐trading platforms with different business models: A two‐stage dynamic game model

Zhao,

2024

Manage Decis Econ

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Using the differences in user attribution and profitability among different business models employed by technology‐trading platforms, a two‐stage dynamic game pricing model was constructed considering three pricing strategies. The research found that (1) in the information‐intermediary business model, technology‐trading platforms should adopt a two‐stage pricing model that first emphasizes transaction fees followed by mixed system charges. (2) In the one‐stop service business model, technology‐trading platforms can achieve higher returns by comprehensively using big data analysis to tailor mixed fees. (3) The traditional information‐intermediary platform can adopt a pricing model with mixed system charges to transition to a one‐stop service platform.

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Peer‐to‐peer local electricity market platform pricing strategies for prosumers

Cited by 26 publications

References 30 publications

A novel community‐based local electricity market for multiple communities with joint energy trading considering the risk of participation

A novel community‐based local electricity market for multiple communities with joint energy trading considering the risk of participation

A multi‐objective optimization for planning of networked microgrid using a game theory for peer‐to‐peer energy trading scheme

Research on pricing models for technology‐trading platforms with different business models: A two‐stage dynamic game model

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