Towards the Design of P2P Energy Trading Scheme Based on Optimal Energy Scheduling for Prosumers

Koo-Hyung Chung and Don Hur
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Koo-Hyung Chung: Smart Grid Research Division, Korea Electrotechnology Research Institute, 12 Bulmosan-ro 10beon-gil, Seongsan-gu, Changwon-si 51543, Korea
Don Hur: Department of Electrical Engineering, Kwangwoon University, 20 Kwangwoon-ro, Nowon-gu, Seoul 01897, Korea

Energies, 2020, vol. 13, issue 19, 1-15

Abstract: The peer-to-peer (P2P) energy trading is anchored in more efficient usage of electric power by allowing excess electric power from energy prosumers to be harnessed by other end-users. To boost the P2P energy trading, it is of pivotal significance to call on energy prosumers and end-users to actively participate in the trading while sharing information with a greater degree of freedom. In this perspective, this paper purports to implement the P2P energy trading scheme with an optimization model to assist in energy prosumers’ decisions by reckoning on hourly electric power available in the trading via the optimal energy scheduling of the energy trading and sharing system (ETS). On a purely practical level, it is assumed that all trading participants neither join the separate bidding processes nor are forced to comply with the predetermined optimal schedules for a trading period. Furthermore, this paper will be logically elaborated with reference to not only the determination of transaction price for maximizing the benefits of consumers under the different electricity rates but the establishment of additional settlement standards for bridging an imperative gap between optimally planned and actually transacted quantities of the P2P energy trading.

Keywords: peer-to-peer (P2P) energy trading; optimal energy scheduling; energy prosumer; distributed energy resource; consumer surplus (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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