Peer-to-Peer Energy Trading among Prosumers with Voltage Regulation Services Provision

Bochun Zhan, Changsen Feng, Zhemin Lin, Xiaoyu Shao and Fushuan Wen ()
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Bochun Zhan: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China
Changsen Feng: College of Information Engineering, Zhejiang University of Technology, Hangzhou 310023, China
Zhemin Lin: Anhui Power Exchange Center Co., Ltd., Hefei 230009, China
Xiaoyu Shao: Economic & Technical Research Institute, State Grid Anhui Electric Power Co., Ltd., Hefei 230071, China
Fushuan Wen: College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China

Energies, 2023, vol. 16, issue 14, 1-22

Abstract: The increasing penetration of distributed energy resources (DERs) into distribution networks has changed the energy trading pattern in traditional electricity markets to some degree, and this will possibly cause network congestion and nodal voltage violations. This paper proposes a two-stage modeling framework for peer-to-peer (P2P) energy trading with voltage regulation services provision considered. In the first stage, direct P2P trading among prosumers, considering network congestion management, is enabled. In the second stage, prosumers provide voltage regulation services to address possible voltage violations. Aiming at maximizing social welfare, the alternative direction method of multipliers (ADMM) is applied to solve the two-stage problem. On the basis of the optimal energy solution of the two-stage problem, the energy prices of P2P transactions and the price of voltage regulation services are settled based on the Nash bargaining model. Finally, simulation results of the IEEE 33-bus power system with six prosumers included demonstrate the effectiveness of the proposed models.

Keywords: prosumers; peer-to-peer (P2P) energy trading; voltage regulation; alternative direction method of multipliers (ADMM); Nash bargaining (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: 2023
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