Automated peer-to-peer negotiation for energy contract settlements in residential cooperatives

Chakraborty, Shantanav; Baarslag, Tim; Kaisers, Michael

doi:10.1016/j.apenergy.2019.114173

Cited by 60 publications

(44 citation statements)

References 27 publications

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“…x x x [120] x x x [121] x x x [122] x x x x [123] x x x x [124] x [125] x [81] x x x x [126] x x [127] x [128] x x [47] x x [129] x x [130] x [131] x x [132] x x x [133] x x [118] x x [134] x x [135] x x [136] x x [137] x x x [138] x x x [139] x x x [140] x x [141] x x x [142] x x x [86] x x x x [143] x x x [144] x x x [145] x x x [146] x x x [147] x x x…”

Section: E Social Aspectsmentioning

confidence: 99%

“…In Ref. [116], the DSO performs an AC PF analysis after each market clearing and informs the D R A F T x x [70] x x [94] x x x [95] x x [96] x x x x [97] x x [98] x x x [62] x x x x [99] x x x x [100] x x x x [101] x x x [102] x x x [103] x x x [104] x x [105] x x [48] x [107] x x x x [108] x x [109] x x x [110] x x x [111] x x x [112] x x x [156] x x x x [113] x x x [114] x x x [115] x x [116] x x [117] x x [118] x x [119] x x [120] x x [121] x x [122] x x [123] x x x [124] x x x [125] x x x x [81] x x x x [126] x [127] x x x [47] x [129] x x [130] x x [131] x x x [132] x x [133] x x [118] x x [134] x x x…”

Section: ) Literature Focus: Cooperative Gamesmentioning

confidence: 99%

“…In this context, Ref. [127] evaluates how automated negotiation strategies regarding energy exchange contracts can increase system efficiency and fairness through the proposed negotiated allocations. The approach is also robust to uncertainty in demand and generation.…”

Section: ) Literature Focus: Cooperative Gamesmentioning

confidence: 99%

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Developments and Challenges in Local Electricity Markets: A Comprehensive Review

et al. 2021

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In recent years, power systems have undergone changes in technology and definition of the associated stakeholders. With the increase in distributed renewable generation and small-to medium-sized consumers starting to actively participate on the supply side, a suitable incorporation of decentralized agents into the power system is required. A promising scheme to support this shift is given by local electricity markets. These provide an opportunity to extend the liberal wholesale markets for electrical power found in Europe and the United States to the communal level. Compared to these more established markets, local electricity markets, however, neither have few practical implementations nor standardized frameworks. In order to fill this research gap and classify the types of local electricity markets, the presented paper therefore starts with the challenges that these markets attempt to solve. This is then extended to an analysis of the theoretical and practical background with a focus on these derived challenges. The theoretical background is provided in the form of an introduction to state-of-the-art models and the associated literature, whereas the practical background is provided in form of a summary of ongoing and recent projects on local electricity markets. As a result, this paper presents a foundation for future research and projects attempting to approach the here presented challenges in distribution of generation, integration of demand response, decentralization of markets and legal and social issues via local electricity markets.

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Section: E Social Aspectsmentioning

confidence: 99%

Section: ) Literature Focus: Cooperative Gamesmentioning

confidence: 99%

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Developments and Challenges in Local Electricity Markets: A Comprehensive Review

et al. 2021

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“…Distributed energy represented by prosumers has the potential to shape overall demand and offer significant value to the energy system, inter alia by reducing investment needs in additional generation and transmission infrastructure. However, it should be remembered that the appropriate motivation of prosumers to coordinate their locally owned dispersed resources belongs to the representatives of the energy system and is very often a challenge and at the same time a field for conducting active research in Smart Grids [96]. Settlement of a numerous of individual transactions on the energy market can be carried out via blockchain called as distributed ledger technologies.…”

Section: Localization Model (Nodal)mentioning

confidence: 99%

Zonal and Nodal Models of Energy Market in European Union

Borowski

2020

Energies

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Along with economic development and development of power systems, new, more effective models of the energy market are sought. Traditional zonal models used on the electricity market have proved to be poorly adapted to new circumstances and phenomena occurring in the macroeconomic environment. The main aim of the research was to show the direction (including the nodal model and prosumer behavior) in which the energy market should develop in order to meet the state-of-the-art technical, ecological and social challenges. Therefore, with the new challenges, a new chapter has opened up on very interesting research for the electrical industry. There are new solutions for the development and modernization of models from the point of view of management and econometrics of the energy market, adapted to new challenges related to ecology, technology, and competition. This article presents the zone model with its imperfections and suggestions for its improvement and proposes a nodal model that may in the near future become a new model for the functioning of the electricity market in Europe.

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“…Current research also focuses on bilateral contract networks between suppliers and centralized producers [44]; computational properties of negotiation algorithms [45]; prosumers' behavioural pattern based on their bidding strategy [46]; optimized scheduling of energy storage for a P2P microgrid model using automated negotiations [47]; as well as enabling communication technologies [48]. Furthermore, agent-coordinated electricity trading between homes in a cooperative residential setting has been shown to lead to an overall battery capacity reduction and reduced energy losses [49,50]. However, electricity pricing was not considered for negotiations in these studies.…”

Section: Introductionmentioning

confidence: 99%

Automated Negotiation for Peer-to-Peer Electricity Trading in Local Energy Markets

et al. 2020

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Reliable access to electricity is still a challenge in many developing countries. Indeed, rural areas in sub-Saharan Africa and developing countries such as India still encounter frequent power outages. Local energy markets (LEMs) have emerged as a low-cost solution enabling prosumers with power supply systems such as solar PV to sell their surplus of energy to other members of the local community. This paper proposes a one-to-one automated negotiation framework for peer-to-peer (P2P) local trading of electricity. Our framework uses an autonomous agent model to capture the preferences of both an electricity seller (consumer) and buyer (small local generator or prosumer), in terms of price and electricity quantities to be traded in different periods throughout a day. We develop a bilateral negotiation framework based on the well-known Rubinstein alternating offers protocol, in which the quantity of electricity and the price for different periods are aggregated into daily packages and negotiated between the buyer and seller agent. The framework is then implemented experimentally, with buyers and sellers adopting different negotiation strategies based on negotiation concession algorithms, such as linear heuristic or Boulware. Results show that this framework and agents modelling allow prosumers to increase their revenue while providing electricity access to the community at low cost.

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Automated peer-to-peer negotiation for energy contract settlements in residential cooperatives

Cited by 60 publications

References 27 publications

Developments and Challenges in Local Electricity Markets: A Comprehensive Review

Developments and Challenges in Local Electricity Markets: A Comprehensive Review

Zonal and Nodal Models of Energy Market in European Union

Automated Negotiation for Peer-to-Peer Electricity Trading in Local Energy Markets

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