A Generic Parametric Framework for Peer-to-Peer Electricity Market Design

Ali Mohammad Saghiri, Somayeh Moazeni

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

This paper proposes a generic parametric framework for designing peer-to-peer (P2P) electricity markets. The framework builds on a feature-based representation and strategy-based expression of the inputs and processes governing the platform operation. The model parameters are optimized to achieve design goals. The paper provides examples of agent features, order features, and platform strategies based on a thorough review of the P2P electricity market from recent literature and industrial implementations. The feature-based modeling approach accommodates capturing detailed characteristics of both the market design and participants. The proposed unified and generic framework is comprehensive and brings together all platform components, that a platform owner can then tune or optimize accordingly. The proposed framework can serve as a reference for developing future P2P electricity markets. It is customizable to suit the specific needs of an electricity marketplace. The feature-based approach facilitates market simulation to assess different market management algorithms. Finally, the paper identifies challenges and open research issues that need to be considered when designing P2P electricity markets.

Original languageEnglish
Title of host publicationProceedings - 2023 IEEE International Conference on Environment and Electrical Engineering and 2023 IEEE Industrial and Commercial Power Systems Europe, EEEIC / I and CPS Europe 2023
EditorsZbigniew Leonowicz
ISBN (Electronic)9798350347432
DOIs
StatePublished - 2023
Event2023 IEEE International Conference on Environment and Electrical Engineering and 2023 IEEE Industrial and Commercial Power Systems Europe, EEEIC / I and CPS Europe 2023 - Madrid, Spain
Duration: 6 Jun 20239 Jun 2023

Publication series

NameProceedings - 2023 IEEE International Conference on Environment and Electrical Engineering and 2023 IEEE Industrial and Commercial Power Systems Europe, EEEIC / I and CPS Europe 2023

Conference

Conference2023 IEEE International Conference on Environment and Electrical Engineering and 2023 IEEE Industrial and Commercial Power Systems Europe, EEEIC / I and CPS Europe 2023
Country/TerritorySpain
CityMadrid
Period6/06/239/06/23

Keywords

  • P2P market design
  • customer engagement
  • distributed energy resources
  • electricity market
  • energy efficiency

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