P2P Electricity Trading Pricing in Energy Blockchain Environment

Kaile Zhou () and Lulu Wen ()
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Kaile Zhou: Hefei University of Technology
Lulu Wen: Hefei University of Technology

Chapter Chapter 11 in Smart Energy Management, 2022, pp 251-285 from Springer

Abstract: Abstract In energy blockchain environment, the peer-to-peer (P2P) energy trading among prosumers is seen as one of the potential ways for supporting future electricity markets. In the process of P2P electricity trading, pricing is a key issue. In this chapter, a game theory-based pricing model is presented in a localized Practical Byzantine Fault Tolerance (PBFT) based-Consortium Blockchain (PBFT-CB), where two types of interactions, i.e. interactions between sellers and buyers and interactions among sellers, are taken into consideration. First, a bi-level model of sellers (upper level) and buyers (lower level) is formulated in Stackelberg game, and the existence of Nash equilibrium is identified. Then, based on a presented iterative pricing algorithm, the equilibrium point of non-cooperative static game is reached where all sellers have no motivation to change prices. Through the case study, it is shown that after considering two types of interactions, a win–win situation benefiting all prosumers achieves. Besides, the prices determined by all sellers are the same, which corresponds with the inference in lower level problem. Furthermore, performance comparisons in various scenarios show the positive effects of presented pricing model. Results show that P2P trading in energy blockchain provides significant financial and technical benefits to prosumers.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-9360-1_11

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DOI: 10.1007/978-981-16-9360-1_11

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