Energy Collectives: A Community and Fairness Based Approach to Future Electricity Markets

Moret, Fabio; Pinson, Pierre

doi:10.1109/tpwrs.2018.2808961

Cited by 353 publications

(272 citation statements)

References 23 publications

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“…In this model, the DSO is responsible for collecting the offers and bids from market participants and determine the appropriate prices to compensate DER asset owner-operators [10][11][12]. Another approach advocates fully distributed market structures, where prosumers trade DER services with each other as members of a coordinated and purely transactive community [13,14].…”

Section: Introductionmentioning

confidence: 99%

Quantifying Market Efficiency Impacts of Aggregated Distributed Energy Resources

Alshehri

Ndrio

Bose

et al. 2020

IEEE Trans. Power Syst.

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This paper focuses on the aggregation of distributed energy resources (DERs) through a profit-maximizing intermediary that enables participation of DERs in wholesale electricity markets. Particularly, we study the market efficiency brought in by the large-scale deployment of DERs and explore to what extent such benefits are offset by the profit-maximizing nature of the aggregator. We deploy a game-theoretic framework to study the strategic interactions between agreggators and DER owners. The proposed model explicitly takes into account the stochastic nature of the DER supply. We explicitly characterize the equilibrium of the game under general assumptions and provide illustrative examples to quantify the efficiency loss due to the strategic incentives of the aggregator. Our numerical experiments illustrate the impact of uncertainty and amount of DER integration on the overall market efficiency. * Authors are with the

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Section: Introductionmentioning

confidence: 99%

Quantifying Market Efficiency Impacts of Aggregated Distributed Energy Resources

Alshehri

Ndrio

Bose

et al. 2020

IEEE Trans. Power Syst.

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show abstract

“…A review of consumer‐centric peer‐to‐peer market designs, including advantages and challenges, is given by Sousa et al The authors compare a full peer‐to‐peer market to a community‐based market and a hybrid market, concluding that the latter is the most suitable in terms of scalability and interaction with other market designs. The community‐based approach with a community manager as supervisor for internal trade has been simulated in a system with 15 prosumers by Moret and Pinson . Moret and Pinson evaluate the impact of the community manager on different prosumers applying fairness indicators.…”

Section: Introductionmentioning

confidence: 99%

“…The community-based approach with a community manager as supervisor for internal trade has been simulated in a system with 15 prosumers by Moret and Pinson. 18 Moret and Pinson evaluate the impact of the community manager on different prosumers applying fairness indicators. Moret and Pinson also compare the community-based approach to individual prosumers but, in contrast to the present study, chose the levels of PV battery capacity as input to the calculation.…”

Section: Introductionmentioning

confidence: 99%

Organizing prosumers into electricity trading communities: Costs to attain electricity transfer limitations and self‐sufficiency goals

et al. 2019

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Summary Among household electricity end users, there is growing interest in local renewable electricity generation and energy independence. Community‐based and neighborhood energy projects, where consumers and prosumers of electricity trade their energy locally in a peer‐to‐peer system, have started to emerge in different parts of the world. This study investigates and compares the costs incurred by individual households and households organized in electricity trading communities in seeking to attain greater independence from the centralized electricity system. This independence is investigated with respect to: (i) the potential to reduce the electricity transfer capacity to and from the centralized system and (ii) the potential to increase self‐sufficiency. An optimization model is designed to analyze the investment and operation of residential photovoltaic battery systems. The model is then applied to different cases in a region of southern Sweden for year 2030. Utilizing measured electricity demand data for Swedish households, we show that with a reduced electricity transfer capacity to the centralized system, already a community of five residential prosumers can supply the household demand at lower cost than can prosumers acting individually. Grouping of residential prosumers in an electricity trading community confers greater benefits under conditions with a reduced electricity transfer capacity than when the goal is to become electricity self‐sufficient. It is important to consider the local utilization of photovoltaic‐generated electricity and its effect on the net trading pattern (to and from the centralized system) when discussing the impact on the electricity system of a high percentage of prosumers.

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“…Without loss of generality, it can be considered that α n,d = α d , ∀n ∈ K. Hence, (14) can be expressed in its simple form as…”

Section: Trading Of Energymentioning

confidence: 99%

“…Trading mechanisms that focus on empowering prosumers in the market are proposed in [11] and [12]. In the literature, integration of P2P trading in the energy market is also discussed via double-auction based [13], fairness based [14], consensus-based [15], negotiation-based [16], generalized Nash equilibrium [17], and orchestrator based [18] approaches respectively.…”

Section: Introductionmentioning

confidence: 99%

A coalition formation game framework for peer-to-peer energy trading

et al. 2020

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This paper studies social cooperation backed peer-to-peer energy trading technique by which prosumers can decide how they can use their batteries opportunistically for participating in the peer-to-peer trading. The objective is to achieve a solution in which the ultimate beneficiaries are the prosumers, i.e., a prosumer-centric solution. To do so, a coalition formation game is designed, which enables a prosumer to compare its benefit of participating in the peer-to-peer trading with and without using its battery and thus, allows the prosumer to form suitable social coalition groups with other similar prosumers in the network for conducting peer-to-peer trading. The properties of the formed coalitions are studied, and it is shown that 1) the coalition structure that stems from the social cooperation between participating prosumers at each time slot is both stable and optimal, and 2) the outcomes of the proposed peerto-peer trading scheme is prosumer-centric. Case studies are conducted based on real household energy usage and solar generation data to highlight how the proposed scheme can benefit prosumers through exhibiting prosumer-centric properties.

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Energy Collectives: A Community and Fairness Based Approach to Future Electricity Markets

Cited by 353 publications

References 23 publications

Quantifying Market Efficiency Impacts of Aggregated Distributed Energy Resources

Quantifying Market Efficiency Impacts of Aggregated Distributed Energy Resources

Organizing prosumers into electricity trading communities: Costs to attain electricity transfer limitations and self‐sufficiency goals

A coalition formation game framework for peer-to-peer energy trading

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