Trading on local energy markets: A comparison of market designs and bidding strategies

Mengelkamp, Esther; Staudt, Philipp; Gärttner, Johannes; Weinhardt, Christof

doi:10.1109/eem.2017.7981938

Cited by 121 publications

(85 citation statements)

References 18 publications

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“…A study on prosumer market introduced and evaluated a direct P2P design and a closed order book design [53]. It also evaluated zero intelligence agents and intelligently bidding agents.…”

Section: Prosumer Market Designmentioning

confidence: 99%

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Prosumer Communities and Relationships in Smart Grids: A Literature Review, Evolution and Future Directions

2018

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Smart grids are robust, self-healing networks that allow bidirectional propagation of energy and information within the utility grid. This introduces a new type of energy user who consumes, produces, stores and shares energy with other grid users. Such a user is called a “prosumer.” Prosumers’ participation in the smart grid is critical for the sustainability and long-term efficiency of the energy sharing process. Thus, prosumer management has attracted increasing attention among researchers in recent years. This paper systematically examines the literature on prosumer community based smart grid by reviewing relevant literature published from 2009 to 2018 in reputed energy and technology journals. We specifically focus on two dimensions namely prosumer community groups and prosumer relationships. Based on the evaluated literature, we present eight propositions and thoroughly describe several future research directions.

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“…A study on prosumer market introduced and evaluated a direct P2P design and a closed order book design [53]. It also evaluated zero intelligence agents and intelligently bidding agents.…”

Section: Prosumer Market Designmentioning

confidence: 99%

“…Table 1 shows the corresponding list of papers reviewed under each category. [16,36,38,49,[52][53][54] Prosumer management [5,8,10,11,37,[55][56][57][58][59] Prosumer relationships…”

Section: Introductionmentioning

confidence: 99%

Prosumer Communities and Relationships in Smart Grids: A Literature Review, Evolution and Future Directions

2018

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“…Community energy storage has been investigated in terms of economic benefits and possibilities to integrate renewable energy sources and demand‐side management . There have also been studies on the interactions that occur on local markets, the different energy carriers in a local energy community or energy hub, and the effects of different load curves on neighborhood clusters …”

Section: Introductionmentioning

confidence: 99%

“…23,24 Community energy storage has been investigated in terms of economic benefits and possibilities to integrate renewable energy sources and demand-side management. [25][26][27][28] There have also been studies on the interactions that occur on local markets, [29][30][31] the different energy carriers in a local energy community or energy hub, 32,33 and the effects of different load curves on neighborhood clusters. 34 The present study adds to the understanding of local grouping of residential prosumers of electricity through direct comparisons of investment and hourly operation of PV plus battery systems for (i) individual prosumers and (ii) prosumers acting as part of an electricity trading community, which has not been provided by studies cited above.…”

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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“…Many studies in local energy trading have avoided consideration of network constraints to facilitate their modeling [11]- [14]. Given that residential users are connected to LV distribution systems, it is necessary to assess the impacts due to the exchange process.…”

Section: Local Energy Trading Under Network Constraintsmentioning

confidence: 99%

Decentralized P2P Energy Trading Under Network Constraints in a Low-Voltage Network

Guerrero

Chapman

Verbič

2019

IEEE Trans. Smart Grid

484

282

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The increasing uptake of distributed energy resources (DERs) in distribution systems and the rapid advance of technology have established new scenarios in the operation of lowvoltage networks. In particular, recent trends in cryptocurrencies and blockchain have led to a proliferation of peer-to-peer (P2P) energy trading schemes, which allow the exchange of energy between the neighbors without any intervention of a conventional intermediary in the transactions. Nevertheless, far too little attention has been paid to the technical constraints of the network under this scenario. A major challenge to implementing P2P energy trading is that of ensuring that network constraints are not violated during the energy exchange. This paper proposes a methodology based on sensitivity analysis to assess the impact of P2P transactions on the network and to guarantee an exchange of energy that does not violate network constraints. The proposed method is tested on a typical UK low-voltage network. The results show that our method ensures that energy is exchanged between users under the P2P scheme without violating the network constraints, and that users can still capture the economic benefits of the P2P architecture.

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Trading on local energy markets: A comparison of market designs and bidding strategies

Cited by 121 publications

References 18 publications

Prosumer Communities and Relationships in Smart Grids: A Literature Review, Evolution and Future Directions

Prosumer Communities and Relationships in Smart Grids: A Literature Review, Evolution and Future Directions

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

Decentralized P2P Energy Trading Under Network Constraints in a Low-Voltage Network

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