scholarly journals Credible Peer-to-Peer Trading with Double-Layer Energy Blockchain Network in Distributed Electricity Markets

Electronics ◽  
2021 ◽  
Vol 10 (15) ◽  
pp. 1815
Author(s):  
Longze Wang ◽  
Yu Xie ◽  
Delong Zhang ◽  
Jinxin Liu ◽  
Siyu Jiang ◽  
...  
Keyword(s):  
Double Layer ◽  
Electricity Markets ◽  
Electricity Market ◽  
Peer To Peer ◽  
Malicious Nodes ◽  
Energy Trading ◽  
Contract Performance ◽  
Trading Model ◽  
Consensus Information ◽  
Available Information

Blockchain-based peer-to-peer (P2P) energy trading is one of the most viable solutions to incentivize prosumers in distributed electricity markets. However, P2P energy trading through an open-end blockchain network is not conducive to mutual credit and the privacy protection of stakeholders. Therefore, improving the credibility of P2P energy trading is an urgent problem for distributed electricity markets. In this paper, a novel double-layer energy blockchain network is proposed that stores private trading data separately from publicly available information. This blockchain network is based on optimized cross-chain interoperability technology and fully considers the special attributes of energy trading. Firstly, an optimized ring mapping encryption algorithm is designed to resist malicious nodes. Secondly, a consensus verification subgroup is built according to contract performance, consensus participation and trading enthusiasm. This subgroup verifies the consensus information through the credit-threshold digital signature. Thirdly, an energy trading model is embedded in the blockchain network, featuring dynamic bidding and credit incentives. Finally, the Erenhot distributed electricity market in China is utilized for example analysis, which demonstrates the proposed method could improve the credibility of P2P trading and realize effective supervision.

scholarly journals A peer-to-peer energy trading model for SMEs

2021 ◽  
Vol 7 (2) ◽  
pp. 27-35
Author(s):  
George SUCIU ◽  
◽  
Cristian BECEANU ◽  
Andreea BADICU ◽  
◽  
...  
Keyword(s):  
Peer To Peer ◽  
Energy Trading ◽  
Trading Model

scholarly journals Pricing decisions in peer-to-peer and prosumer-centred electricity markets: Experimental analysis in Germany and the United Kingdom

2021 ◽  
Author(s):  
Ulf J.J. Hahnel ◽  
Michael James Fell
Keyword(s):  
United Kingdom ◽  
Citizen Participation ◽  
Electricity Markets ◽  
Electricity Market ◽  
Supply And Demand ◽  
Energy Transition ◽  
Active Participation ◽  
Peer To Peer ◽  
Political Orientation ◽  
The United Kingdom

Prosumer-centred electricity market models such as peer-to-peer communities can enable optimized supply and demand of locally generated electricity as well as an active participation of citizens in the energy transition. An important element of active participation is the improved ability of community members to identify and choose who they transact with in a much more granular way than is usual. Despite this key novelty and the social core of prosumer-centred markets, little is known about how citizens would trade with different actors involved in the system. Here, we report a preregistered cross-national experiment in which we investigated individual trading preferences in a peer-to-peer community, including a variety of private and non-private trading actors. Our data from the United Kingdom (n=441) and Germany (n=440) shows that set buying and selling prices strongly vary, pointing to three systematically different trading strategies that individuals apply as a function of involved trading actor. Findings moreover reveal that trading decisions are determined by individuals’ political orientation, place attachment, and climate change beliefs as well as individual differences in trust in the involved trading actor. Finally, our results illustrate high consistency in trading preferences across nations. However, nation-level differences emerged when decisions were made publicly visible, emphasising the need to consider context-effects in peer-to-peer system design. Our results have implications for the development of prosumer-centred energy models and the design of interventions to increase citizen participation across national contexts.

scholarly journals Application of blockchain in integrated energy system transactions

2020 ◽  
Vol 165 ◽  
pp. 01014
Author(s):  
Jianhua Liu ◽  
Shengbo Sun ◽  
Zheng Chang ◽  
Bo Zhou ◽  
Yongli Wang ◽  
...  
Keyword(s):  
Energy Systems ◽  
Energy System ◽  
Peer To Peer ◽  
Energy Trading ◽  
Integrated Energy Systems ◽  
Blockchain Technology ◽  
Centralized Management ◽  
Trading Model ◽  
Integrated Energy System ◽  
Management Method

Blockchain technology is the underlying technology of Bitcoin, which is fair, transparent and decentralized. The integrated energy system has the characteristics of open interconnection, user-centered and distributed peer-to-peer sharing, and its energy trading model will also be developed centrally to distributed. The characteristics of blockchain technology make it naturally applicable to energy transactions in integrated energy systems. This article first analyzes the characteristics of the integrated energy system market and summarizes the participants in the market. Then, based on the existing research and analysis, a blockchain-based energy transaction architecture is designed, and a weakly centralized management method is introduced. finally, the problems and challenges faced by the application of blockchain in energy transactions are analyzed.

scholarly journals The Process of Liberalization of Electricity Market in Albania

2015 ◽  
Vol 2 (1) ◽  
pp. 50
Author(s):  
Helga Zogolli
Keyword(s):  
Market Power ◽  
Electricity Markets ◽  
Electricity Market ◽  
Electricity Industry ◽  
Natural Monopoly ◽  
Market Forces ◽  
Power Monitoring ◽  
The Past ◽  
Long Run ◽  
Available Information

The motivation for electricity liberalization differs slightly between countries; however most of the countries share common ideological and political reasons regarding disaffection with the vertically integrated monopoly model of the past and a strong belief that the success of liberalization in other industries can be repeated for the electricity industry. The introduction of competition in the electricity industry has been justified by the perceived benefits of introducing market forces in an industry previously viewed as a natural monopoly with substantial vertical economies. Therefore the motivation behind electricity liberalization is to promote in the long run efficiency gains, to stimulate technical innovation and to lead to efficient investment.First the project is reviewing from the literature, the available information on market power monitoring in electricity markets. There are briefly explained definitions, strategies, indices and methods of mitigating market power as well as the several methods of detecting market power used from market monitors/regulators. After, the general features of the electricity industry are presented briefly as background for the analysis. The main aspects of the liberalization process of this industry and the role it has played in the creation of PX-s is described.

scholarly journals Multi-Agent Reinforcement Learning for Automated Peer-to-Peer Energy Trading in Double-Side Auction Market

2021 ◽  
Author(s):  
Dawei Qiu ◽  
Jianhong Wang ◽  
Junkai Wang ◽  
Goran Strbac
Keyword(s):  
Reinforcement Learning ◽  
Electricity Market ◽  
Smart Grids ◽  
Public Information ◽  
Economic Benefits ◽  
Peer To Peer ◽  
The Other ◽  
Energy Trading ◽  
Utility Company ◽  
Multi Agent

With increasing prosumers employed with distributed energy resources (DER), advanced energy management has become increasingly important. To this end, integrating demand-side DER into electricity market is a trend for future smart grids. The double-side auction (DA) market is viewed as a promising peer-to-peer (P2P) energy trading mechanism that enables interactions among prosumers in a distributed manner. To achieve the maximum profit in a dynamic electricity market, prosumers act as price makers to simultaneously optimize their operations and trading strategies. However, the traditional DA market is difficult to be explicitly modelled due to its complex clearing algorithm and the stochastic bidding behaviors of the participants. For this reason, in this paper we model this task as a multi-agent reinforcement learning (MARL) problem and propose an algorithm called DA-MADDPG that is modified based on MADDPG by abstracting the other agents’ observations and actions through the DA market public information for each agent’s critic. The experiments show that 1) prosumers obtain more economic benefits in P2P energy trading w.r.t. the conventional electricity market independently trading with the utility company; and 2) DA-MADDPG performs better than the traditional Zero Intelligence (ZI) strategy and the other MARL algorithms, e.g., IQL, IDDPG, IPPO and MADDPG.

Agent-Based Model of a Blockchain Enabled Peer-to-Peer Energy Market: Application for a Neighborhood Trial in Perth, Australia

Smart Cities ◽  
2020 ◽  
Vol 3 (3) ◽  
pp. 1072-1099 ◽  
Author(s):  
Jacob G. Monroe ◽  
Paula Hansen ◽  
Matthew Sorell ◽  
Emily Zechman Berglund
Keyword(s):  
Electricity Market ◽  
Energy System ◽  
Peer To Peer ◽  
Energy Market ◽  
Energy Trading ◽  
Agent Based ◽  
Trading Systems ◽  
Market Structures ◽  
Trade Offs ◽  
The Impact

The transfer of market power in electric generation from utilities to end-users spurred by the diffusion of distributed energy resources necessitates a new system of settlement in the electricity business that can better manage generation assets at the grid-edge. A new concept in facilitating distributed generation is peer-to-peer energy trading, where households exchange excess power with neighbors at a price they set themselves. However, little is known about the effects of peer-to-peer energy trading on the sociotechnical dynamics of electric power systems. Further, given the novelty of the concept, there are knowledge gaps regarding the impact of alternative electricity market structures and individual decision strategies on neighborhood exchanges and market outcomes. This study develops an empirical agent-based modeling (ABM) framework to simulate peer-to-peer electricity trades in a decentralized residential energy market. The framework is applied for a case study in Perth, Western Australia, where a blockchain-enabled energy trading platform was trialed among 18 households, which acted as prosumers or consumers. The ABM is applied for a set of alternative electricity market structures. Results assess the impact of solar generation forecasting approaches, battery energy storage, and ratio of prosumers to consumers on the dynamics of peer-to-peer energy trading systems. Designing an efficient, equitable, and sustainable future energy system hinges on the recognition of trade-offs on and across, social, technological, economic, and environmental levels. Results demonstrate that the ABM can be applied to manage emerging uncertainties by facilitating the testing and development of management strategies.

scholarly journals Peer-to-Peer Energy Trading in a Micro-grid Using Internet of Things and Blockchain

2021 ◽  
Vol 25 (2) ◽  
pp. 39-49
Author(s):  
Mirza Jabbar Aziz Baig ◽  
◽  
M. Tariq Iqbal ◽  
Mohsin Jamil ◽  
Jahangir Khan ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Internet Of Things ◽  
Low Cost ◽  
Peer To Peer ◽  
Sensor Data ◽  
Current Sensor ◽  
Renewable Energy Resources ◽  
Transfer Energy ◽  
Energy Trading ◽  
Trading Model

With advancements in renewable energy techno­logies, consumers are becoming prosumers, and renewable energy resources are being used in distributed networks. In an isolated distributed system, peer-to-peer (P2P) energy trading is one of the most promising energy management solutions. In this paper, we propose a P2P energy trading method for micro-grids using open resources and technology. The proposed setup comprises an Internet of Things (IoT) server to transfer energy amongst the peers without human intervention, and an Ethereum based private blockchain is suggested for money transfer in the form of cryptocurrency. The IoT server enables the peers to control and monitor self-produced energy. Arduino UNO, ACS 712 hall-effect current sensor, and a relay are the main components used in the hardware setup. The current sensor data is sent in real- time to Arduino for onward communication to the IoT server. A user-friendly interface has been developed on the server to perform various energy trading tasks. Peers have the choice to access the server remotely to perform energy trading tasks. The energy trading events can be shared amongst peers through e-mail notifications. For financial transactions, we utilized Ganache graphical user interface (GUI) a private Ethereum blockchain eliminating the need for financial institutions. The proposed peer-to-peer energy trading model has been successfully tested for energy trading between two peers. This paper provides details of the proposed hardware and software setup and explains how low-cost P2P energy trading can be achieved.

scholarly journals A Decentralized Bilateral Energy Trading System for Peer-to-Peer Electricity Markets

2020 ◽  
Vol 67 (6) ◽  
pp. 4646-4657 ◽  
Author(s):  
Mohsen Khorasany ◽  
Yateendra Mishra ◽  
Gerard Ledwich
Keyword(s):  
Electricity Markets ◽  
Peer To Peer ◽  
Trading System ◽  
Energy Trading
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