Auction based energy trading in transactive energy market with active participation of prosumers and consumers

Mohsen Khorasany, Yateendra Mishra, Gerard Ledwich

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

16 Citations (Scopus)

Abstract

This paper proposes a Transactive Energy Market (TEM) platform for Peer-To-Peer (P2P) energy trading among prosumers and consumers in the Transactive environment. Prosumers with excess energy participate in the market as seller and consumers play a buyer role and communicate with each other to maximize their welfare, which is the difference between their benefit and cost. The proposed platform is an hour-Ahead market, where market subscribers join to trade energy for the next hour. Market clearing is performed using auction approach and a double auction with average mechanism is applied to determine allocation and price of energy. In this platform, market subscribers pay a Subscription Charge (SC) for utilizing the distribution network and this charge is used as a price signal to reduce the possibility of overload in the network's lines. Power Transfer Distributed Factor (PTDF) is used to calculate SC by incorporating network topology and the distributed nature of prosumers and consumers. Simulation results on a simple IEEE 13 node distribution network with 10 subscribers (5 buyers and 5 sellers) demonstrate the efficacy of the proposed TEM platform and market clearing mechanism.

Original languageEnglish
Title of host publication2017 Australasian Universities Power Engineering Conference (AUPEC 2017)
EditorsEnamul Haque, Brendan McGrath, Sajeeb Saha, Mohammad Arif, Shama Islam
Place of PublicationPiscataway NJ USA
PublisherIEEE, Institute of Electrical and Electronics Engineers
Pages515-520
Number of pages6
ISBN (Electronic)9781538626474, 9781538626467
ISBN (Print)9781538626481
DOIs
Publication statusPublished - 2017
Externally publishedYes
EventAustralasian Universities Power Engineering Conference 2017 - Melbourne, Australia
Duration: 19 Nov 201722 Nov 2017
https://www.vu.edu.au/australasian-universities-power-engineering-conference-2017-aupec2017

Conference

ConferenceAustralasian Universities Power Engineering Conference 2017
Abbreviated titleAUPEC 2017
CountryAustralia
CityMelbourne
Period19/11/1722/11/17
Internet address

Keywords

  • Double Auction
  • P2P market
  • Prosumer
  • Transactive Energy

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