A fair Peer-to-Peer Electricity Market model for Residential Prosumers

Research output: Chapter in Book/Conference proceedings/Edited volumeConference contributionScientificpeer-review

Abstract

In this paper, we propose a bilateral peer-to-peer (P2P) energy trading scheme for residential prosumers with a simplified entry to the market. We formulate the market as an assignment game, a special class of coalitional games. For solving the resulting decision problem, we design a bilateral negotiation mechanism that enables matched buyer-seller pairs to reach a consensus on a set of 'stable' and 'fair' trading contracts. The proposed negotiation process can be executed on possibly time-varying communication networks with virtually minimal information requirements that in turn preserves privacy among prosumers. Numerical simulations illustrate the beneficial features of our P2P market model and negotiation protocol.

Original languageEnglish
Title of host publicationProceedings of 2021 IEEE PES Innovative Smart Grid Technologies Europe
Subtitle of host publicationSmart Grids: Toward a Carbon-Free Future, ISGT Europe 2021
PublisherIEEE
Number of pages5
ISBN (Electronic)978-1-6654-4875-8
DOIs
Publication statusPublished - 2021
Event11th IEEE PES Innovative Smart Grid Technologies Europe, ISGT Europe 2021 - Espoo, Finland
Duration: 18 Oct 202121 Oct 2021

Conference

Conference11th IEEE PES Innovative Smart Grid Technologies Europe, ISGT Europe 2021
Country/TerritoryFinland
CityEspoo
Period18/10/2121/10/21

Keywords

  • electricity markets
  • Peer-to-peer energy trading
  • renewable energy integration

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