Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparison
In pay-as-bid peer-to-peer (P2P) energy trading, various types of prosumers and consumers can participate, regardless of their offers. Thus, various types of participants impact the network differently. However, very few pay-as-bid P2P energy trading studies have specifically discussed appropriate c...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2022-11-01
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| Series: | Energy Reports |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S235248472202340X |
| _version_ | 1797901879490904064 |
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| author | Noorfatima N. Choi Y. Onen A. Jung J. |
| author_facet | Noorfatima N. Choi Y. Onen A. Jung J. |
| author_sort | Noorfatima N. |
| collection | DOAJ |
| description | In pay-as-bid peer-to-peer (P2P) energy trading, various types of prosumers and consumers can participate, regardless of their offers. Thus, various types of participants impact the network differently. However, very few pay-as-bid P2P energy trading studies have specifically discussed appropriate compensation for network usage, although the market is implemented in existing utility-owned grids. Therefore, to improve the performance of pay-as-bid P2P energy trading, it is important to determine the appropriate compensation to utilities for network usage. This study aims to obtain an appropriate network cost allocation method for pay-as-bid P2P energy trading. Hence, the authors present a review of pay-as-bid P2P market mechanisms and various network cost allocation (NCA) methods. Additionally, a comprehensive evaluation framework is proposed to determine the most appropriate NCA method for the pay-as-bid P2P energy trading system. A comparison was made between various NCA methods to investigate the outcomes of the implementation of different NCA methods to various market conditions. The study constructs a case study based on the operator-oriented P2P model to represent the pay-as-bid P2P energy trading system. The simulation of pay-as-bid P2P energy trading with large participant number is applied in the IEEE 69-bus distribution system. The study concluded that applying the appropriate NCA method would improve the performance of pay-as-bid P2P energy trading operation. |
| first_indexed | 2024-04-10T09:08:56Z |
| format | Article |
| id | doaj.art-8fafebcb2d2b4114b838f588ba565fb9 |
| institution | Directory Open Access Journal |
| issn | 2352-4847 |
| language | English |
| last_indexed | 2024-04-10T09:08:56Z |
| publishDate | 2022-11-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Reports |
| spelling | doaj.art-8fafebcb2d2b4114b838f588ba565fb92023-02-21T05:14:23ZengElsevierEnergy Reports2352-48472022-11-0181444214463Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparisonNoorfatima N.0Choi Y.1Onen A.2Jung J.3Department of Energy Systems Research, Ajou University, Suwon, South KoreaDepartment of Energy Systems Research, Ajou University, Suwon, South KoreaDepartment of Electrical-Electronic Engineering, Abdullah Gül University, Kayseri, Turkey; Department of Electrical and Computer Engineering, College of Engineering, Sultan Qaboos University, Al-Khoud, Muscat, OmanDepartment of Energy Systems Research, Ajou University, Suwon, South Korea; Correspondence to: Power System Laboratory, Energy Center 210, Ajou University, Worldcup-ro 206, Yeongtong-gu, Suwon, South Korea.In pay-as-bid peer-to-peer (P2P) energy trading, various types of prosumers and consumers can participate, regardless of their offers. Thus, various types of participants impact the network differently. However, very few pay-as-bid P2P energy trading studies have specifically discussed appropriate compensation for network usage, although the market is implemented in existing utility-owned grids. Therefore, to improve the performance of pay-as-bid P2P energy trading, it is important to determine the appropriate compensation to utilities for network usage. This study aims to obtain an appropriate network cost allocation method for pay-as-bid P2P energy trading. Hence, the authors present a review of pay-as-bid P2P market mechanisms and various network cost allocation (NCA) methods. Additionally, a comprehensive evaluation framework is proposed to determine the most appropriate NCA method for the pay-as-bid P2P energy trading system. A comparison was made between various NCA methods to investigate the outcomes of the implementation of different NCA methods to various market conditions. The study constructs a case study based on the operator-oriented P2P model to represent the pay-as-bid P2P energy trading system. The simulation of pay-as-bid P2P energy trading with large participant number is applied in the IEEE 69-bus distribution system. The study concluded that applying the appropriate NCA method would improve the performance of pay-as-bid P2P energy trading operation.http://www.sciencedirect.com/science/article/pii/S235248472202340XPeer-to-peer energy tradingPay-as-bidNetwork cost allocationNetwork usage costEvaluation framework |
| spellingShingle | Noorfatima N. Choi Y. Onen A. Jung J. Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparison Energy Reports Peer-to-peer energy trading Pay-as-bid Network cost allocation Network usage cost Evaluation framework |
| title | Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparison |
| title_full | Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparison |
| title_fullStr | Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparison |
| title_full_unstemmed | Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparison |
| title_short | Network cost allocation methods for pay-as-bid peer-to-peer energy trading: A comparison |
| title_sort | network cost allocation methods for pay as bid peer to peer energy trading a comparison |
| topic | Peer-to-peer energy trading Pay-as-bid Network cost allocation Network usage cost Evaluation framework |
| url | http://www.sciencedirect.com/science/article/pii/S235248472202340X |
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