Equilibrium Seeking and Optimal Selection Algorithms in Peer-to-Peer Energy Markets

Wicak Ananduta and Sergio Grammatico
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Wicak Ananduta: Delft Center for Systems and Control, Delft University of Technology, 2628 CD Delft, The Netherlands
Sergio Grammatico: Delft Center for Systems and Control, Delft University of Technology, 2628 CD Delft, The Netherlands

Games, 2022, vol. 13, issue 5, 1-13

Abstract: We consider a clearing problem in peer-to-peer energy markets, where prosumers can trade energy among each other and with the main grid to meet their energy demands. By using a game-theoretic formulation and exploiting operator-theoretic methods for generalized Nash equilibrium seeking, we propose two variants of the state-of-the-art distributed market clearing mechanism with improved convergence speeds. Furthermore, we design a third variant that allows for equilibrium selection, i.e., computing a specific market solution based on a convex preference function of the network operator, e.g., a congestion cost. We provide convergence guarantees and numerically show the advantages of our proposed algorithms in terms of convergence speed up and obtaining reduced grid congestion.

Keywords: economic dispatch; market clearing algorithms; operator-theoretic methods (search for similar items in EconPapers)
JEL-codes: C C7 C70 C71 C72 C73 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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