Peer-to-peer trading of electricity in local power market

This report introduces the rationale of the Peer-to-peer (P2P) electricity market and pricing mechanisms for a microgrid and a multi-microgrid community (more than one microgrid) is proposed. Before implementing such algorithms, the basic process of trading between prosumers in a P2P electricity mar...

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Main Author: Yang, Jiawei
Other Authors: Gooi Hoay Beng
Format: Final Year Project
Language:English
Published: 2018
Subjects:
Online Access:http://hdl.handle.net/10356/74919
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-749192023-07-07T16:08:29Z Peer-to-peer trading of electricity in local power market Yang, Jiawei Gooi Hoay Beng School of Electrical and Electronic Engineering DRNTU::Engineering This report introduces the rationale of the Peer-to-peer (P2P) electricity market and pricing mechanisms for a microgrid and a multi-microgrid community (more than one microgrid) is proposed. Before implementing such algorithms, the basic process of trading between prosumers in a P2P electricity market by using a knapsack auction is proposed too. After being familiar these pricing mechanisms, algorithms for the trading mechanisms are compiled through MATLAB simulation. The feasibility and functionality of these pricing mechanisms are assessed via simulation depending on the compiled codes. On the last stage, considering all the prosumers are equipped with their own distributed generation systems and battery energy stored states, the outcomes of using different pricing mechanisms are also proposed. Overall, this project includes the basic trading process of each prosumer, the pricing mechanism for the transactions in one microgrid and the one for a multi-microgrid community. In addition, the results of various methods of trading are compared by demonstrating the cost spent by every prosumer in order to provide a reliable reference for the future work. Bachelor of Engineering 2018-05-25T01:01:59Z 2018-05-25T01:01:59Z 2018 Final Year Project (FYP) http://hdl.handle.net/10356/74919 en Nanyang Technological University 66 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Engineering
spellingShingle DRNTU::Engineering
Yang, Jiawei
Peer-to-peer trading of electricity in local power market
description This report introduces the rationale of the Peer-to-peer (P2P) electricity market and pricing mechanisms for a microgrid and a multi-microgrid community (more than one microgrid) is proposed. Before implementing such algorithms, the basic process of trading between prosumers in a P2P electricity market by using a knapsack auction is proposed too. After being familiar these pricing mechanisms, algorithms for the trading mechanisms are compiled through MATLAB simulation. The feasibility and functionality of these pricing mechanisms are assessed via simulation depending on the compiled codes. On the last stage, considering all the prosumers are equipped with their own distributed generation systems and battery energy stored states, the outcomes of using different pricing mechanisms are also proposed. Overall, this project includes the basic trading process of each prosumer, the pricing mechanism for the transactions in one microgrid and the one for a multi-microgrid community. In addition, the results of various methods of trading are compared by demonstrating the cost spent by every prosumer in order to provide a reliable reference for the future work.
author2 Gooi Hoay Beng
author_facet Gooi Hoay Beng
Yang, Jiawei
format Final Year Project
author Yang, Jiawei
author_sort Yang, Jiawei
title Peer-to-peer trading of electricity in local power market
title_short Peer-to-peer trading of electricity in local power market
title_full Peer-to-peer trading of electricity in local power market
title_fullStr Peer-to-peer trading of electricity in local power market
title_full_unstemmed Peer-to-peer trading of electricity in local power market
title_sort peer-to-peer trading of electricity in local power market
publishDate 2018
url http://hdl.handle.net/10356/74919
_version_ 1772829176108154880