scholarly journals New Methods for Improved Prosumer Trading and Energy Poverty Mitigation in Microgrids using Crowdsourcing Concepts and Blockchain Technologies

2020 ◽  
Author(s):  
Bogdan-Constantin Neagu ◽  
Ovidiu Ivanov ◽  
Gheorghe Grigoras ◽  
Mihai Gavrilas ◽  
Dumitru-Marcel Istrate
Keyword(s):  
Electricity Markets ◽  
Smart Grids ◽  
Market Model ◽  
Local Market ◽  
Wholesale Market ◽  
Energy Poverty ◽  
Deregulated Markets ◽  
Energy Technologies ◽  
Geographical Regions ◽  
Trading Mechanisms

The deregulated markets have replaced the traditional way of trading electricity from the producers to the consumer, via government-owned organizations and regulated tariffs. Nowadays, electricity prices are determined by the offer-demand mechanism and consumers can negotiate tariffs with their supplier of choice. For classic wholesale suppliers, the tariffs are a result of the transactions performed on the wholesale market and the energy mix available in certain geographical regions. In parallel with becoming eligible and participating in retail electricity markets, the consumers use increasingly local generation sources based mostly on renewable energy technologies such as PV panels, and become prosumers. They want to be able to sell back to the market the generation surplus, in order to obtain the maximum benefits from their initial investment. Currently, several trading mechanisms for prosumers are available, ranging from the simplest, selling back the surplus to an aggregator at fixed tariffs, to more complex market schemes. This paper proposed a two-tier local market model for prosumers and consumers connected in microgrids, based on the blockchain technologies and other technologies and concepts such as remote sensing, smart grids, crowdsourcing and energy poverty.

scholarly journals New Methods for Improved Prosumer Trading and Energy Poverty Mitigation in Microgrids using Crowdsourcing Concepts and Blockchain Technologies

2020 ◽  
Author(s):  
Bogdan-Constantin Neagu ◽  
Ovidiu Ivanov ◽  
Gheorghe Grigoras ◽  
Mihai Gavrilas ◽  
Dumitru-Marcel Istrate
Keyword(s):  
Electricity Markets ◽  
Smart Grids ◽  
Market Model ◽  
Local Market ◽  
Wholesale Market ◽  
Energy Poverty ◽  
Deregulated Markets ◽  
Energy Technologies ◽  
Geographical Regions ◽  
Trading Mechanisms

The deregulated markets have replaced the traditional way of trading electricity from the producers to the consumer, via government-owned organizations and regulated tariffs. Nowadays, electricity prices are determined by the offer-demand mechanism and consumers can negotiate tariffs with their supplier of choice. For classic wholesale suppliers, the tariffs are a result of the transactions performed on the wholesale market and the energy mix available in certain geographical regions. In parallel with becoming eligible and participating in retail electricity markets, the consumers use increasingly local generation sources based mostly on renewable energy technologies such as PV panels, and become prosumers. They want to be able to sell back to the market the generation surplus, in order to obtain the maximum benefits from their initial investment. Currently, several trading mechanisms for prosumers are available, ranging from the simplest, selling back the surplus to an aggregator at fixed tariffs, to more complex market schemes. This paper proposed a two-tier local market model for prosumers and consumers connected in microgrids, based on the blockchain technologies and other technologies and concepts such as remote sensing, smart grids, crowdsourcing and energy poverty.

scholarly journals New Market Model with Social and Commercial Tiers for Improved Prosumer Trading in Microgrids

2020 ◽  
Vol 12 (18) ◽  
pp. 7265 ◽  
Author(s):  
Bogdan-Constantin Neagu ◽  
Ovidiu Ivanov ◽  
Gheorghe Grigoras ◽  
Mihai Gavrilas ◽  
Dumitru-Marcel Istrate
Keyword(s):  
Electricity Markets ◽  
Smart Grids ◽  
Energy State ◽  
Electricity Sector ◽  
Market Model ◽  
Local Market ◽  
Wholesale Market ◽  
The Sustainable Development ◽  
Electricity Cost ◽  
Trading Model

In the deregulated electricity markets, trading prices are determined by the offer-demand mechanism, and retail consumers can negotiate tariffs with their supplier of choice. For classic wholesale suppliers, the tariffs are determined by the prices of transactions performed on the wholesale market. In parallel with becoming eligible for participating in the market, the consumers use increasingly local generation sources based mostly on renewable electricity generation equipment such as Photovoltaic (PV) panels, and become prosumers. They want to be able to sell back to the market the generation surplus, in order to obtain the maximum benefits from their initial investment. This paper proposes a two-tier local market model oriented for prosumers and consumers connected in microgrids, based on the blockchain technologies and other technologies and concepts such as smart grids, crowdsourcing and energy poverty. Its goals are to improve the possibilities of local prosumers to sell electricity to local consumers and to increase their profitability, compared to the trading model often used in developing markets, of selling the surplus back to the grid via aggregators. The research aims to contribute to the sustainable development of the electricity sector using new and renewable sources of energy, state-of the art technologies and smart contracts, leading to prosumer proliferation and electricity cost reduction for consumers.

scholarly journals Prosumer Community Portfolio Optimization via Aggregator: The Case of the Iberian Electricity Market and Portuguese Retail Market

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3747
Author(s):  
Ricardo Faia ◽  
Tiago Pinto ◽  
Zita Vale ◽  
Juan Manuel Corchado
Keyword(s):  
Portfolio Optimization ◽  
Electricity Markets ◽  
Electricity Market ◽  
Retail Market ◽  
Wholesale Market ◽  
Generation Capacity ◽  
Wholesale Electricity Market ◽  
Portfolio Optimization Model ◽  
Photovoltaic Generators

The participation of household prosumers in wholesale electricity markets is very limited, considering the minimum participation limit imposed by most market participation rules. The generation capacity of households has been increasing since the installation of distributed generation from renewable sources in their facilities brings advantages for themselves and the system. Due to the growth of self-consumption, network operators have been putting aside the purchase of electricity from households, and there has been a reduction in the price of these transactions. This paper proposes an innovative model that uses the aggregation of households to reach the minimum limits of electricity volume needed to participate in the wholesale market. In this way, the Aggregator represents the community of households in market sales and purchases. An electricity transactions portfolio optimization model is proposed to enable the Aggregator reaching the decisions on which markets to participate to maximize the market negotiation outcomes, considering the day-ahead market, intra-day market, and retail market. A case study is presented, considering the Iberian wholesale electricity market and the Portuguese retail market. A community of 50 prosumers equipped with photovoltaic generators and individual storage systems is used to carry out the experiments. A cost reduction of 6–11% is achieved when the community of households buys and sells electricity in the wholesale market through the Aggregator.

scholarly journals Bidding in Smart Grid PDAs: Theory, Analysis and Strategy

2020 ◽  
Vol 34 (02) ◽  
pp. 1974-1981
Author(s):  
Susobhan Ghosh ◽  
Sujit Gujar ◽  
Praveen Paruchuri ◽  
Easwar Subramanian ◽  
Sanjay Bhat
Keyword(s):  
Smart Grids ◽  
Complete Information ◽  
Equilibrium Analysis ◽  
Equilibrium Strategy ◽  
Double Auction ◽  
Single Shot ◽  
Wholesale Market ◽  
Bidding Strategies ◽  
Double Auctions ◽  
Best Response

Periodic Double Auctions (PDAs) are commonly used in the real world for trading, e.g. in stock markets to determine stock opening prices, and energy markets to trade energy in order to balance net demand in smart grids, involving trillions of dollars in the process. A bidder, participating in such PDAs, has to plan for bids in the current auction as well as for the future auctions, which highlights the necessity of good bidding strategies. In this paper, we perform an equilibrium analysis of single unit single-shot double auctions with a certain clearing price and payment rule, which we refer to as ACPR, and find it intractable to analyze as number of participating agents increase. We further derive the best response for a bidder with complete information in a single-shot double auction with ACPR. Leveraging the theory developed for single-shot double auction and taking the PowerTAC wholesale market PDA as our testbed, we proceed by modeling the PDA of PowerTAC as an MDP. We propose a novel bidding strategy, namely MDPLCPBS. We empirically show that MDPLCPBS follows the equilibrium strategy for double auctions that we previously analyze. In addition, we benchmark our strategy against the baseline and the state-of-the-art bidding strategies for the PowerTAC wholesale market PDAs, and show that MDPLCPBS outperforms most of them consistently.

scholarly journals Do Benefits from Dynamic Tariffing Rise? Welfare Effects of Real-Time Retail Pricing Under Carbon Taxation and Variable Renewable Electricity Supply

2019 ◽  
Vol 75 (1) ◽  
pp. 183-213
Author(s):  
Christian Gambardella ◽  
Michael Pahle ◽  
Wolf-Peter Schill
Keyword(s):  
Real Time ◽  
Electricity Markets ◽  
Electricity Market ◽  
Wholesale Price ◽  
Price Volatility ◽  
Market Model ◽  
High Carbon ◽  
Welfare Gains ◽  
Retail Pricing ◽  
Carbon Taxation

AbstractWe analyze the gross welfare gains from real-time retail pricing in electricity markets where carbon taxation induces investment in variable renewable technologies. Applying a stylized numerical electricity market model, we find a U-shaped association between carbon taxation and gross welfare gains. The benefits of introducing real-time pricing can accordingly be relatively low at relatively high carbon taxes and vice versa. The non-monotonous change in welfare gains can be explained by corresponding changes in the inefficiency arising from “under-consumption” during low-price periods rather than by changes in wholesale price volatility. Our results may cast doubt on the efficiency of ongoing roll-outs of advanced meters in many electricity markets, since net benefits might only materialize at relatively high carbon tax levels and renewable supply shares.

scholarly journals Future Generation 5G Wireless Networks for Smart Grid: A Comprehensive Review

Energies ◽  
2019 ◽  
Vol 12 (11) ◽  
pp. 2140 ◽  
Author(s):  
Sofana Reka. S ◽  
Tomislav Dragičević ◽  
Pierluigi Siano ◽  
S.R. Sahaya Prabaharan
Keyword(s):  
Smart Grid ◽  
Electricity Markets ◽  
Smart Grids ◽  
Large Scale ◽  
Business Models ◽  
Future Generation ◽  
Current Status ◽  
Complete Analysis ◽  
5G Networks ◽  
5G Network

Wireless cellular networks are emerging to take a strong stand in attempts to achieve pervasive large scale obtainment, communication, and processing with the evolution of the fifth generation (5G) network. Both the present day cellular technologies and the evolving new age 5G are considered to be advantageous for the smart grid. The 5G networks exhibit relevant services for critical and timely applications for greater aspects in the smart grid. In the present day electricity markets, 5G provides new business models to the energy providers and improves the way the utility communicates with the grid systems. In this work, a complete analysis and a review of the 5G network and its vision regarding the smart grid is exhibited. The work discusses the present day wireless technologies, and the architectural changes for the past years are shown. Furthermore, to understand the user-based analyses in a smart grid, a detailed analysis of 5G architecture with the grid perspectives is exhibited. The current status of 5G networks in a smart grid with a different analysis for energy efficiency is vividly explained in this work. Furthermore, focus is emphasized on future reliable smart grid communication with future roadmaps and challenges to be faced. The complete work gives an in-depth understanding of 5G networks as they pertain to future smart grids as a comprehensive analysis.

scholarly journals Factors Affecting Public Willingness to Adopt Renewable Energy Technologies: An Exploratory Analysis

2020 ◽  
Vol 12 (3) ◽  
pp. 845 ◽  
Author(s):  
Anas A. Makki ◽  
Ibrahim Mosly
Keyword(s):  
Saudi Arabia ◽  
Renewable Energy ◽  
Energy Production ◽  
Research Study ◽  
Local Market ◽  
Extensive Literature ◽  
Factors Affecting ◽  
Renewable Energy Technologies ◽  
Energy Technologies ◽  
Willingness To Adopt

Renewable energy has become an important element of today’s modern technology targeting high-efficiency energy production. As part of its 2030 Vision, Saudi Arabia is aiming to increase its energy production through renewable sources. The purpose of this research study is to explore the factors affecting public willingness to adopt renewable energy technologies in the western region of Saudi Arabia. This was achieved through an extensive literature review of previous studies conducted worldwide and resulted in the extraction of 19 factors that affect public willingness to adopt renewable energy technologies. Following a quantitative research design, random cross-sectional data of 416 participants using the extracted factors were collected via an online questionnaire survey. Following a dimension reduction statistical approach, key components were extracted with exploratory factor analysis using principal component analysis. Five main components clustering the 19 extracted factors were revealed: cost and government regulations and policies, public awareness and local market, environment and public infrastructure, residential building, and renewable energy technology systems. The implications of this research study assist in guiding governments, regulations and policy makers, marketing agencies, and investors to better understand the concerns and enablers of renewable energy technologies adoption from the public perspective.

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