Design and simulation of Peer-to-Peer energy trading framework with dynamic electricity price

Zhang, Bidan, Du, Yang, Lim, Eng Gee, Jiang, Lin, and Yan, Ke (2019) Design and simulation of Peer-to-Peer energy trading framework with dynamic electricity price. In: Proceedings of the 29th Australasian Universities Power Engineering Conference. From: AUPEC 2019: 29th Australasian Universities Power Engineering Conference, 26-29 May 2019, Nadi, Fiji.

[img] PDF (Published Version) - Published Version
Restricted to Repository staff only

View at Publisher Website: https://doi.org/10.1109/AUPEC48547.2019....
 
1


Abstract

Peer-to-Peer (P2P) market scheme enables the individual participant to trade surplus electricity generated by rooftop photovoltaic (PV) with their neighbors. It is an effective way to manage distributed generation (DG) and promote demand response. In this paper, we proposed a P2P trading framework with consideration of the dynamic retail electricity price for the first time. The prosumers can use the decision-making model proposed in this framework to automatically generate bids and participate in the auction in the P2P market. Simulation has been built in MATLAB to evaluate the performance of three pricing models: Double Auction (DA), Mid-Market Rate (MMR) and Supply and Demand Ratio (SDR). Simulation results show that P2P energy trading can bring economic and technical benefits to participants. It is also able to improve the local balance of energy generation and consumption.

Item ID: 64959
Item Type: Conference Item (Research - E1)
ISBN: 978-1-7281-5043-7
Keywords: Peer-to-Peer energy trading, power market, distributed energy resources, dynamic electricity price, battery control strategy, clearing pricing mechanism
Copyright Information: (C) IEEE
Funders: National Natural Science Foundation of China (NNSFC), Jiangsu Science and Technology Program (JSTP), AI University Research Centre (AI-URC)
Projects and Grants: NNSFC No. 61803315, JSTP BK20180243, AI-URC through XJTLU Key Programme Special Fund
Date Deposited: 04 Nov 2020 07:52
FoR Codes: 40 ENGINEERING > 4008 Electrical engineering > 400805 Electrical energy transmission, networks and systems @ 80%
40 ENGINEERING > 4008 Electrical engineering > 400803 Electrical energy generation (incl. renewables, excl. photovoltaics) @ 20%
SEO Codes: 85 ENERGY > 8506 Energy Storage, Distribution and Supply > 850601 Energy Services and Utilities @ 100%
Downloads: Total: 1
More Statistics

Actions (Repository Staff Only)

Item Control Page Item Control Page