Power flow traceable P2P electricity market segmentation and cost allocation

Lou, C., Yang, J. , Vega Fuentes, E., Zhou, Y., Min, L., Yu, J. and Meena, N. K. (2024) Power flow traceable P2P electricity market segmentation and cost allocation. Energy, 290, 130120. (doi: 10.1016/j.energy.2023.130120)

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This study explores peer-to-peer (P2P) electricity trading, emphasizing not just the export and consumption, but also the feasible physical supply of electricity and the use of distribution network assets. Building on a transaction-oriented dynamic power flow tracing model, a novel P2P market architecture is proposed. This architecture integrates the electricity market with the power network, considering technical constraints, network losses, and asset usage. The network is segmented into potential markets using second-order cone programming (SOCP), with an optimization problem introduced for loss-allocation. This problem merges network physical analysis and variable outputs from distributed energy resources (DERs). A graph-based P2P electricity trading model is designed to determine optimal transaction cost allocation and maximize benefits for both DERs and consumers. A case study on a modified IEEE 33-node test feeder substantiates the benefits of this market structure, demonstrating increased revenues for DERs and reduced bills for consumers compared to traditional feed-in-tariffs.

Item Type:Articles
Additional Information:The work is supported by the Engineering and Physical Sciences Research Council (EPSRC, United Kingdom) in project ‘‘Street2Grid – an electricity blockchain platform for P2P energy trading’’ (Reference: EP/S001778/2).
Glasgow Author(s) Enlighten ID:Min, Liang and Yang, Dr Jin
Creator Roles:
Yang, J.Conceptualization, Methodology, Writing – original draft
Min, L.Software, Validation
Authors: Lou, C., Yang, J., Vega Fuentes, E., Zhou, Y., Min, L., Yu, J., and Meena, N. K.
College/School:College of Science and Engineering > School of Engineering > Systems Power and Energy
Journal Name:Energy
ISSN (Online):1873-6785
Published Online:27 December 2023
Copyright Holders:Copyright © 2023 The Authors
First Published:First published in Energy 290:130120
Publisher Policy:Reproduced under a Creative Commons License

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Project CodeAward NoProject NamePrincipal InvestigatorFunder's NameFunder RefLead Dept
309634Street2Grid - An Electricity Blockchain Platform for P2P Energy TradingJin YangEngineering and Physical Sciences Research Council (EPSRC)EP/S001778/2ENG - Systems Power & Energy