TY - GEN
T1 - Design and simulation of peer-to-peer energy trading framework with dynamic electricity price
AU - Zhang, Bidan
AU - Du, Yang
AU - Lim, Eng Gee
AU - Jiang, Lin
AU - Yan, Ke
N1 - Publisher Copyright:
© 2019 IEEE.
PY - 2019/11
Y1 - 2019/11
N2 - 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.
AB - 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.
KW - Battery control strategy
KW - Clearing pricing mechanism
KW - Distributed energy resources
KW - Dynamic electricity price
KW - Peer-to-Peer energy trading
KW - Power market
UR - https://www.scopus.com/pages/publications/85086302456
U2 - 10.1109/AUPEC48547.2019.211948
DO - 10.1109/AUPEC48547.2019.211948
M3 - Conference Proceeding
AN - SCOPUS:85086302456
T3 - 2019 29th Australasian Universities Power Engineering Conference, AUPEC 2019
BT - 2019 29th Australasian Universities Power Engineering Conference, AUPEC 2019
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 29th Australasian Universities Power Engineering Conference, AUPEC 2019
Y2 - 26 November 2019 through 29 November 2019
ER -