1. Peer-to-Peer Energy Trading in Smart Grid Considering Power Losses and Network Fees
- Author
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Hoay Beng Gooi, L. P. M. I. Sampath, Amrit Paudel, Jiawei Yang, and School of Electrical and Electronic Engineering
- Subjects
General Computer Science ,Third party ,020209 energy ,Market clearing ,020208 electrical & electronic engineering ,02 engineering and technology ,Peer-to-peer ,Environmental economics ,computer.software_genre ,Grid ,Power (physics) ,Smart grid ,Network Utilization Fees ,Energy trading ,0202 electrical engineering, electronic engineering, information engineering ,Electrical and electronic engineering [Engineering] ,Electricity market ,Peer-to-peer Energy Trading ,Business ,computer - Abstract
Peer-to-peer (P2P) energy trading is one of the promising approaches for implementing decentralized electricity market paradigms. In the P2P trading, each actor negotiates directly with a set of trading partners. Since the physical network or grid is used for energy transfer, power losses are inevitable, and grid-related costs always occur during the P2P trading. A proper market clearing mechanism is required for the P2P energy trading between different producers and consumers. This paper proposes a decentralized market clearing mechanism for the P2P energy trading considering the privacy of the agents, power losses as well as the utilization fees for using the third party owned network. Grid-related costs in the P2P energy trading are considered by calculating the network utilization fees using an electrical distance approach. The simulation results are presented to verify the effectiveness of the proposed decentralized approach for market clearing in P2P energy trading. Agency for Science, Technology and Research (A*STAR) Accepted version This work was supported by the Agency for Science, Technology and Research (A*STAR) through its Singapore–Germany Academic-Industry (2+2) International Collaboration under Grant A1990b0060. Paper no. TSG-01805-2019.
- Published
- 2022