Design of auction-based approach for market clearing in peer-to-peer market platform

Mohsen Khorasany, Yateendra Mishra, Gerard Ledwich

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

Abstract

This study designs a market platform for peer-to-peer (P2P) energy trading in transactive energy (TE) systems, where prosumers and consumers actively participate in the market as seller or buyer to trade energy. An auction-based approach is used for market clearing in the proposed platform and a review of different types of auctions is performed. The appropriate auction approach for market clearing in the proposed platform is designed. The proposed auction mechanism is implemented in three steps namely determination, allocation and payment. This study identifies important P2P market clearing performance indices, which are used to compare and contrast the designed auction with different types of auction mechanisms. Comparative studies demonstrate the efficacy of the proposed auction mechanism for market clearing in the P2P platform.
Original languageEnglish
Title of host publicationThe 7th International Conference on Renewable Power Generation (RPG 2018)
EditorsJacob Østergaard
Place of PublicationStevenage Herts UK
PublisherThe Institution of Engineering and Technology
Pages4813-4818
Number of pages6
DOIs
Publication statusPublished - 19 Aug 2019
Externally publishedYes
EventInternational Conference on Renewable Power Generation 2018 - Copenhagen, Denmark
Duration: 26 Sep 201827 Sep 2018
Conference number: 7th

Publication series

NameThe Journal of Engineering
PublisherThe Institution of Engineering and Technology
Number18
Volume2019
ISSN (Electronic)2051-3305

Conference

ConferenceInternational Conference on Renewable Power Generation 2018
Abbreviated titleRPG 2018
CountryDenmark
CityCopenhagen
Period26/09/1827/09/18

Cite this

Khorasany, M., Mishra, Y., & Ledwich, G. (2019). Design of auction-based approach for market clearing in peer-to-peer market platform. In J. Østergaard (Ed.), The 7th International Conference on Renewable Power Generation (RPG 2018) (pp. 4813-4818). (The Journal of Engineering; Vol. 2019, No. 18). The Institution of Engineering and Technology. https://doi.org/10.1049/joe.2018.9313