Flocking-based decentralised double auction for P2P energy trading within neighbourhoods

Bandara, Kosala Yapa; Thakur, Subhasis; Breslin, John G.

doi:10.1016/j.ijepes.2021.106766

Cited by 35 publications

(14 citation statements)

References 12 publications

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“…A Stackelberg game and power flow analysis in a community-based case study, furthermore, with the estimation of a distribution system usage fee charged for P2P-ET transactions is presented in [51]. In the network of California, USA, an algorithm for clustering prosumers and consumers based on the flocking behaviour of birds, so they trade electricity in a direct trading market design, as proposed in [55].…”

Section: Focus/approach/area Sourcesmentioning

confidence: 99%

A Review of Peer-to-Peer Energy Trading with Standard Terminology Proposal and a Techno-Economic Characterisation Matrix

et al. 2022

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Nowadays decarbonisation of the energy system is one of the main concerns for most governments. Renewable energy technologies, such as rooftop photovoltaic systems and home battery storage systems, are changing the energy system to be more decentralised. As a consequence, new ways of energy business models are emerging, e.g., peer-to-peer energy trading. This new concept provides an online marketplace where direct energy exchange can occur between its participants. The purpose of this study is to conduct a content analysis of the existing literature, ongoing research projects, and companies related to peer-to-peer energy trading. From this review, a summary of the most important aspects and journal papers is assessed, discussed, and classified. It was found that the different energy market types were named in various ways and a proposal for standard language for the several peer-to-peer market types and the different actors involved is suggested. Additionally, by grouping the most important attributes from peer-to-peer energy trading projects, an assessment of the entry barrier and scalability potential is performed by using a characterisation matrix.

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Section: Focus/approach/area Sourcesmentioning

confidence: 99%

A Review of Peer-to-Peer Energy Trading with Standard Terminology Proposal and a Techno-Economic Characterisation Matrix

et al. 2022

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“…Their evaluation results show that the proposed system reduces the losses and line congestion in the energy markets. In the same way, Bandara et al [163] proposed a flocking-based double auction in a decentralized P2P energy trading. Their trading model shows that they have 80% successful trading simula-tion results within neighbourhoods.…”

Section: Blockchain-based Energy Tradingmentioning

confidence: 99%

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

et al. 2021

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The smart grid is generally studied as an efficient and powerful electric grid. With the assistance of information and communication technology (ICT), the electric grid can increase the performance of the power grid system with smart energy management. On the other hand, with the usage of renewable energy resources (RERs), smart energy storage, and new transmission technologies in the power grid system, various new features such as real-time monitoring, fast restoration, battery displays, automated outage management, etc. have been assimilated into the smart grid. These new features generate more complexity in energy transmission and constitute important challenges like low energy consumption, high energy cost, social welfare, etc. while designing energy trading mechanisms in the smart grid. In the Internet-of-Things (IoT) era, several scenarios such as micro-grids, energy harvesting networks, and vehicle-to-grid (V2G) networks are present where energy trading plays an important role. However, in these scenarios, there are energy transmission and distribution, security and privacy, energy consumption, system reliability, the criticality of data delivery, and a few more challenges caused by distrust, non-transparent, and uncertain energy markets. Motivated from these challenges, we present a four-layered architecture of energy trading used in the smart grid. We propose a comprehensive background regarding the main concepts of energy trading and the implication of enabling technologies that manage the energy imbalances in the smart grid. Then, we present a problem taxonomy based on incentive, mathematical, and simulation modeldriven approaches, which are widely used to control and maintain the energy trading mechanisms. Based on the findings from the literature, we also present a solution taxonomy with enabling technologies such as Energy Internet, Software-defined networking (SDN), and blockchain. In the end, a summary of future research directions based on the energy trading mechanisms is explored to provide deep insights to the readers.

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“…Thus, a blockchain free-matching pricing strategy has been proposed as an alternative pricing approach [17][18][19]. To address benefit distribution concerns between producers and customers, a demand response operator can be introduced as an intermediary to collect bids and offers from prosumers.…”

Section: Introductionmentioning

confidence: 99%

A pricing game strategy with virtual prosumer guidance in community grid

Chi

Liu

2023

IET Renewable Power Gen

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The peer‐to‐peer (P2P) energy trading model is considered to be one of the appropriate models for managing local energy trading in community grids. But free pricing mechanisms can lead to energy wastage and long response times. In order to facilitate the local consumption of renewable energy within the community, this paper proposes a pricing game strategy with virtual prosumer (VP) guidance on a P2P energy market model in community grid. To prevent market disruption caused by free pricing strategies in the P2P market and ensure the overall social benefit of the community, a VP controlled by the community microgrid manager is introduced to regulate the energy trading of the entire community. A novel and efficient prosumer trading model is proposed where the VP changes its pricing strategy to guide other prosumers to achieve Nash equilibrium and improve the internal consumption rate of new energy in the community. The proposed strategy's rationality and effectiveness are verified through case studies.

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Flocking-based decentralised double auction for P2P energy trading within neighbourhoods

Cited by 35 publications

References 12 publications

A Review of Peer-to-Peer Energy Trading with Standard Terminology Proposal and a Techno-Economic Characterisation Matrix

A Review of Peer-to-Peer Energy Trading with Standard Terminology Proposal and a Techno-Economic Characterisation Matrix

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

A pricing game strategy with virtual prosumer guidance in community grid

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