Compensation Mechanisms for Double Auctions in Peer-to-Peer Local Energy Markets

2020 ◽  
Vol 7 (4) ◽  
pp. 165-175
Author(s):  
Christoph Gerwin ◽  
Robert Mieth ◽  
Yury Dvorkin
Keyword(s):  
Energy Markets ◽  
Peer To Peer ◽  
Local Energy ◽  
Double Auctions ◽  
Compensation Mechanisms

scholarly journals Automated Negotiation for Peer-to-Peer Electricity Trading in Local Energy Markets

Energies ◽  
2020 ◽  
Vol 13 (4) ◽  
pp. 920 ◽  
Author(s):  
Christie Etukudor ◽  
Benoit Couraud ◽  
Valentin Robu ◽  
Wolf-Gerrit Früh ◽  
David Flynn ◽  
...  
Keyword(s):  
Developing Countries ◽  
Low Cost ◽  
Energy Markets ◽  
Peer To Peer ◽  
Sub Saharan Africa ◽  
Local Energy ◽  
Automated Negotiation ◽  
Solar Pv ◽  
Negotiation Strategies ◽  
Alternating Offers

Reliable access to electricity is still a challenge in many developing countries. Indeed, rural areas in sub-Saharan Africa and developing countries such as India still encounter frequent power outages. Local energy markets (LEMs) have emerged as a low-cost solution enabling prosumers with power supply systems such as solar PV to sell their surplus of energy to other members of the local community. This paper proposes a one-to-one automated negotiation framework for peer-to-peer (P2P) local trading of electricity. Our framework uses an autonomous agent model to capture the preferences of both an electricity seller (consumer) and buyer (small local generator or prosumer), in terms of price and electricity quantities to be traded in different periods throughout a day. We develop a bilateral negotiation framework based on the well-known Rubinstein alternating offers protocol, in which the quantity of electricity and the price for different periods are aggregated into daily packages and negotiated between the buyer and seller agent. The framework is then implemented experimentally, with buyers and sellers adopting different negotiation strategies based on negotiation concession algorithms, such as linear heuristic or Boulware. Results show that this framework and agents modelling allow prosumers to increase their revenue while providing electricity access to the community at low cost.

A simulative framework for a multi-regional assessment of local energy markets – A case of large-scale electric vehicle deployment in Germany

2021 ◽  
Vol 299 ◽  
pp. 117249
Author(s):  
Wilhelm Cramer ◽  
Klemens Schumann ◽  
Michael Andres ◽  
Chris Vertgewall ◽  
Antonello Monti ◽  
...  
Keyword(s):  
Electric Vehicle ◽  
Large Scale ◽  
Energy Markets ◽  
Local Energy ◽  
Regional Assessment

scholarly journals Demonstration of Blockchain Based Peer to Peer Energy Trading System with Real-Life Used PHEV and HEMS Charge Control

Energies ◽  
2021 ◽  
Vol 14 (22) ◽  
pp. 7484
Author(s):  
Yuki Matsuda ◽  
Yuto Yamazaki ◽  
Hiromu Oki ◽  
Yasuhiro Takeda ◽  
Daishi Sagawa ◽  
...  
Keyword(s):  
Supply And Demand ◽  
Real Life ◽  
Energy System ◽  
Energy Markets ◽  
Peer To Peer ◽  
Renewable Energy Resources ◽  
Trading System ◽  
Energy Trading ◽  
Demonstration Experiment ◽  
Home Energy Management

To further implement decentralized renewable energy resources, blockchain based peer-to-peer (P2P) energy trading is gaining attention and its architecture has been proposed with virtual demonstrations. In this paper, to further socially implement this concept, a blockchain based peer to peer energy trading system which could coordinate with energy control hardware was constructed, and a demonstration experiment was conducted. Previous work focused on virtually matching energy supply and demand via blockchain P2P energy markets, and our work pushes this forward by demonstrating the possibility of actual energy flow control. In this demonstration, Plug-in Hybrid Electrical Vehicles(PHEVs) and Home Energy Management Systems(HEMS) actually used in daily life were controlled in coordination with the blockchain system. In construction, the need of a multi-tagged continuous market was found and proposed. In the demonstration experiment, the proposed blockchain market and hardware control interface was proven capable of securing and stably transmitting energy within the P2P energy system. Also, by the implementation of multi-tagged energy markets, the number of transactions required to secure the required amount of electricity was reduced.

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