Peer-to-peer energy trading in smart grid considering power losses and network fees
Peer-to-peer (P2P) energy trading is one of the promising approaches for implementing decentralized electricity market paradigms. In the P2P trading, each actor negotiates directly with a set of trading partners. Since the physical network or grid is used for energy transfer, power losses are inevit...
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sg-ntu-dr.10356-1450552020-12-09T07:40:10Z Peer-to-peer energy trading in smart grid considering power losses and network fees Paudel, Amrit Sampath, Lahanda Purage Mohasha Isuru Yang, Jiawei Gooi, Hoay Beng School of Electrical and Electronic Engineering Engineering::Electrical and electronic engineering Peer-to-peer Energy Trading Network Utilization Fees Peer-to-peer (P2P) energy trading is one of the promising approaches for implementing decentralized electricity market paradigms. In the P2P trading, each actor negotiates directly with a set of trading partners. Since the physical network or grid is used for energy transfer, power losses are inevitable, and grid-related costs always occur during the P2P trading. A proper market clearing mechanism is required for the P2P energy trading between different producers and consumers. This paper proposes a decentralized market clearing mechanism for the P2P energy trading considering the privacy of the agents, power losses as well as the utilization fees for using the third party owned network. Grid-related costs in the P2P energy trading are considered by calculating the network utilization fees using an electrical distance approach. The simulation results are presented to verify the effectiveness of the proposed decentralized approach for market clearing in P2P energy trading. Agency for Science, Technology and Research (A*STAR) Accepted version This work was supported by the Agency for Science, Technology and Research (A*STAR) through its Singapore–Germany Academic-Industry (2+2) International Collaboration under Grant A1990b0060. Paper no. TSG-01805-2019. 2020-12-09T07:40:10Z 2020-12-09T07:40:10Z 2020 Journal Article Paudel, A., Sampath, L. P. M. I., Yang, J., & Gooi, H. B. (2020). Peer-to-peer energy trading in smart grid considering power losses and network fees. IEEE Transactions on Smart Grid, 11(6), 4727-4737. doi:10.1109/tsg.2020.2997956 1949-3053 https://hdl.handle.net/10356/145055 10.1109/tsg.2020.2997956 6 11 4727 4737 en A1990b0060 IEEE Transactions on Smart Grid © 2020 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. The published version is available at: https://doi.org/10.1109/tsg.2020.2997956 application/pdf |
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Engineering::Electrical and electronic engineering Peer-to-peer Energy Trading Network Utilization Fees Paudel, Amrit Sampath, Lahanda Purage Mohasha Isuru Yang, Jiawei Gooi, Hoay Beng Peer-to-peer energy trading in smart grid considering power losses and network fees |
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Peer-to-peer (P2P) energy trading is one of the promising approaches for implementing decentralized electricity market paradigms. In the P2P trading, each actor negotiates directly with a set of trading partners. Since the physical network or grid is used for energy transfer, power losses are inevitable, and grid-related costs always occur during the P2P trading. A proper market clearing mechanism is required for the P2P energy trading between different producers and consumers. This paper proposes a decentralized market clearing mechanism for the P2P energy trading considering the privacy of the agents, power losses as well as the utilization fees for using the third party owned network. Grid-related costs in the P2P energy trading are considered by calculating the network utilization fees using an electrical distance approach. The simulation results are presented to verify the effectiveness of the proposed decentralized approach for market clearing in P2P energy trading. |
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School of Electrical and Electronic Engineering |
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School of Electrical and Electronic Engineering Paudel, Amrit Sampath, Lahanda Purage Mohasha Isuru Yang, Jiawei Gooi, Hoay Beng |
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Article |
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Paudel, Amrit Sampath, Lahanda Purage Mohasha Isuru Yang, Jiawei Gooi, Hoay Beng |
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Paudel, Amrit |
title |
Peer-to-peer energy trading in smart grid considering power losses and network fees |
title_short |
Peer-to-peer energy trading in smart grid considering power losses and network fees |
title_full |
Peer-to-peer energy trading in smart grid considering power losses and network fees |
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Peer-to-peer energy trading in smart grid considering power losses and network fees |
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Peer-to-peer energy trading in smart grid considering power losses and network fees |
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peer-to-peer energy trading in smart grid considering power losses and network fees |
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2020 |
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https://hdl.handle.net/10356/145055 |
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