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Transactive energy market mechanism with loss implication

Azizi, A ; Sharif University of Technology | 2021

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  1. Type of Document: Article
  2. DOI: 10.1109/TSG.2020.3028825
  3. Publisher: Institute of Electrical and Electronics Engineers Inc , 2021
  4. Abstract:
  5. Electric distribution network is undergoing fundamental transition from conventional top-down structure to an environment where local prosumers, as transactive agents, are able to form peer-to-peer (P2P) energy trades among themselves. One of the challenges in such networks is allocating the incurred losses to the peers of the transactive market through a transparent and fair framework. In this article, it is demonstrated that the existing methods of loss allocation may cause a cross-subsidization problem when it comes to transactive energy systems, and a solution is offered to the problem. Furthermore, a novel transactive market mechanism is proposed which deploys the loss allocated to each transaction as a criterion to match the peers of the market for energy trading. It will be shown that the presented mechanism will help in diminishing the cross-subsidization problem. More importantly, our method will encourage the agents of the transactive market to trade energy with others located at a shorter distance, rather than farther ones in the network. This is indeed a salient goal of the smart grid concept and will give rise to prominent technical and administrative benefits regarding the transactive energy market and its players. © 2020 IEEE
  6. Keywords:
  7. Peer to peer networks ; Power markets ; Cross-subsidization ; Energy markets ; Energy systems ; Energy trading ; Loss allocation ; Market mechanisms ; Peer to peer ; Smart grid ; Smart power grids
  8. Source: IEEE Transactions on Smart Grid ; Volume 12, Issue 2 , 2021 , Pages 1215-1223 ; 19493053 (ISSN)
  9. URL: https://ieeexplore.ieee.org/document/9216164