Developing a reasonable, efficient distributed market transaction mechanism is an important issue in distribution systems. The gaming relation between distributed transaction market entities has yet to be fully elucidated in various trading links, and the impact of distributed transactions on distribution network operations has yet to be comprehensively analyzed. This paper proposes a novel distributed Peerto-Peer (P2P) day-ahead trading method under multi-microgrid congestion management in active distribution networks. First, a flexible load model for price-based demand response load and an autonomous microgrid economic scheduling model are constructed. Second, under normal operation of the distribution network, a non-cooperative game model and Stackelberg game model are employed to separately and comprehensively analyze gaming relationship among sellers, and between sellers and buyers. Thereafter, a congestion management method based on market capacity is established from the perspective of distribution network control centers. Finally, the impact of end energy consumption characteristics on microgrid economic scheduling and P2P trading is analyzed through a modified IEEE 33-node power distribution system. The economic and technical benefits such as congestion mitigation and network loss reduction that produced by P2P trading to the operation of microgrid systems are analysed with specific indicators. INDEX TERMS Multi-microgrid cluster, active distribution network, peer-to-peer trading, non-cooperative game, Stackelberg game, congestion management.

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