Analyzing Potential Schemes for Regulated Electricity Price Components in Local Energy Markets

Schreck, Sebastian; Thiem, Sebastian; Amthor, Arvid; Metzger, Michael; Niessen, Stefan

doi:10.1109/eem49802.2020.9221959

Cited by 10 publications

(12 citation statements)

References 6 publications

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“…As shown in Fig. 13, in [48] total fees paid for BAU are 286€, and in LEM they are reduced by 16%, to 239€. The proposed LEM architecture reduces electricity bills for consumers by 5%, prosumers by 16%, and prosumers with RBESS by 29%.…”

Section: Fees Paidmentioning

confidence: 93%

“…The self-sufficiency of LEM in [48] has increased by 14% as shown in Table -IV. However, it is much more controlled in the case of the proposed LEM, and the results illustrate that LEM increased the self-sufficiency by 7.5%, and with the proposed LEM and CBESS it increased further to 15%.…”

Section: Self-sufficiencymentioning

confidence: 97%

“…In this section, the proposed LEM results are compared with recent research papers [48][49]. In [48], a minimization objective function is used for regulated electricity price components and social welfare and the LEM results, including a reduction in total fees paid and an increase in self-sufficiency, are compared. In [49], the matchmaking between the buyer and seller is maximised, and the results of grid imports and exports are compared.…”

Section: F Comparative Analysismentioning

confidence: 99%

See 2 more Smart Citations

Application of a Community Battery-Integrated Microgrid in a Blockchain-Based Local Energy Market Accommodating P2P Trading

Ali¹,

Azim²,

Peters³

et al. 2023

IEEE Access

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This paper presents the application of a community battery energy storage system (CBESS)integrated microgrid (MG) in a blockchain-enabled local energy market (LEM). The proposed LEM balances the community energy requirement while facilitating frequent peer-to-peer (P2P) energy transactions between several energy users in the presence of both energy supplier and energy operator. The architecture is formulated by taking a number of local market and network constraints, that include residential battery energy storage system (RBESS) constraints; CBESS constraints; P2P traded price constraints; P2P traded power constraints; margin constraints of the stakeholders; power grid export and import constraints; and network energy balance constraints, so as to not only incentivise energy users but also reduce import/export from/to power grid while keeping the margins of energy supplier and energy operator unaffected. Different types of transactions data including energy users' P2P pricing bids and P2P traded energy volume are also stored in the blockchain database. Further, the developed LEM framework is also validated through a case study executed on an actual Australian power grid network, comprising 260 residential energy users; two energy suppliers; an energy operator; and a CBESS, and the performance of the proposed P2P trading-based LEM strategy is compared with the existing business-as-usual (BAU) that directs energy users to buy/sell energy at the time-of-use (ToU)/ feed-in-tariff (FiT) rate. The extensive and comparative simulation results confirm the superior performance of the proposed LEM mechanism in terms of minimising energy users' electricity bill; lowering power grid import and export; and retaining margins of energy suppliers and the energy operator; and thus, emphasise its application suitability in the current electricity market.INDEX TERMS Blockchain, community battery, energy supplier, local energy market, energy operator, peer-to-peer energy trading, power grid.

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Section: Fees Paidmentioning

confidence: 93%

Section: Self-sufficiencymentioning

confidence: 97%

Section: F Comparative Analysismentioning

confidence: 99%

See 1 more Smart Citation

Application of a Community Battery-Integrated Microgrid in a Blockchain-Based Local Energy Market Accommodating P2P Trading

Ali¹,

Azim²,

Peters³

et al. 2023

IEEE Access

View full text Add to dashboard Cite

show abstract

“…The example shows that it is essential to model the impact of taxes on LEM trading. Modeling approaches for taxes in LEMs and DERs have been introduced in [42] and [43]. A higher willingness to pay (WTP) for local energy has a similar effect as regulatory incentives.…”

Section: Analysis Of Lem Economicsmentioning

confidence: 99%

How will local energy markets influence the pan-European day-ahead market and transmission systems? A case study for local markets in France and Germany

et al. 2022

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“…It was utilised further in [43] to design the P2P contracts between LEM participants. On the other hand, the application of the MILP method was evident in [44][45][46][47][48] for analysing electricity price components, optimising locally produced energy, maintaining the uncertainty of local demand and supply, designing virtual bidding mechanisms, and cutting back the total energy supply expenditures, respectively. Additionally, this mechanism has been applied to handle the community-oriented P2P trading model [49], conduct home-to-home trading via P2P methodology [50], operate a hierarchical P2P energy management system [51], and finalise energy transactions with the energy supplier [52].…”

Section: Introductionmentioning

confidence: 99%

Balancing Usage Profiles and Benefitting End Users through Blockchain Based Local Energy Trading: A German Case Study

Ali,

Azim,

Ojha

et al. 2023

Energies

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The electricity market has increasingly played a significant role in ensuring the smooth operation of the power grid. The latest incarnation of the electricity market follows a bottom-up paradigm, rather than a top-down one, and aims to provide flexibility services to the power grid. The blockchain-based local energy market (LEM) is one such bottom-up market paradigm. It essentially enables consumers and prosumers (those who can generate power locally) within a defined power network topology to trade renewable energy amongst each other in a peer-to-peer (P2P) fashion using blockchain technology. This paper presents the development of such a P2P trading-facilitated LEM and the analysis of the proposed blockchain-based LEM by means of a case study using actual German residential customer data. The performance of the proposed LEM is also compared with that of BAU, in which power is traded via time-of-use (ToU) and feed-in-tariff (FiT) rates. The comparative results demonstrate: (1) the participants’ bill savings; (2) mitigation of the power grid’s export and import; (3) no/minimal variations in the margins of energy suppliers and system operators; and (4) cost comparison of Ethereum versus Polygon blockchain, thus emphasising the domineering performance of the developed P2P trading-based LEM mechanism.

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Analyzing Potential Schemes for Regulated Electricity Price Components in Local Energy Markets

Cited by 10 publications

References 6 publications

Application of a Community Battery-Integrated Microgrid in a Blockchain-Based Local Energy Market Accommodating P2P Trading

Application of a Community Battery-Integrated Microgrid in a Blockchain-Based Local Energy Market Accommodating P2P Trading

How will local energy markets influence the pan-European day-ahead market and transmission systems? A case study for local markets in France and Germany

Balancing Usage Profiles and Benefitting End Users through Blockchain Based Local Energy Trading: A German Case Study

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