Peer-to-peer trading of electricity in local power market
This report introduces the rationale of the Peer-to-peer (P2P) electricity market and pricing mechanisms for a microgrid and a multi-microgrid community (more than one microgrid) is proposed. Before implementing such algorithms, the basic process of trading between prosumers in a P2P electricity mar...
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
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2018
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| Online Access: | http://hdl.handle.net/10356/74919 |
| _version_ | 1824457118213734400 |
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| author | Yang, Jiawei |
| author2 | Gooi Hoay Beng |
| author_facet | Gooi Hoay Beng Yang, Jiawei |
| author_sort | Yang, Jiawei |
| collection | NTU |
| description | This report introduces the rationale of the Peer-to-peer (P2P) electricity market and pricing mechanisms for a microgrid and a multi-microgrid community (more than one microgrid) is proposed. Before implementing such algorithms, the basic process of trading between prosumers in a P2P electricity market by using a knapsack auction is proposed too. After being familiar these pricing mechanisms, algorithms for the trading mechanisms are compiled through MATLAB simulation. The feasibility and functionality of these pricing mechanisms are assessed via simulation depending on the compiled codes. On the last stage, considering all the prosumers are equipped with their own distributed generation systems and battery energy stored states, the outcomes of using different pricing mechanisms are also proposed. Overall, this project includes the basic trading process of each prosumer, the pricing mechanism for the transactions in one microgrid and the one for a multi-microgrid community. In addition, the results of various methods of trading are compared by demonstrating the cost spent by every prosumer in order to provide a reliable reference for the future work. |
| first_indexed | 2025-02-19T04:04:55Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/74919 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2025-02-19T04:04:55Z |
| publishDate | 2018 |
| record_format | dspace |
| spelling | ntu-10356/749192023-07-07T16:08:29Z Peer-to-peer trading of electricity in local power market Yang, Jiawei Gooi Hoay Beng School of Electrical and Electronic Engineering DRNTU::Engineering This report introduces the rationale of the Peer-to-peer (P2P) electricity market and pricing mechanisms for a microgrid and a multi-microgrid community (more than one microgrid) is proposed. Before implementing such algorithms, the basic process of trading between prosumers in a P2P electricity market by using a knapsack auction is proposed too. After being familiar these pricing mechanisms, algorithms for the trading mechanisms are compiled through MATLAB simulation. The feasibility and functionality of these pricing mechanisms are assessed via simulation depending on the compiled codes. On the last stage, considering all the prosumers are equipped with their own distributed generation systems and battery energy stored states, the outcomes of using different pricing mechanisms are also proposed. Overall, this project includes the basic trading process of each prosumer, the pricing mechanism for the transactions in one microgrid and the one for a multi-microgrid community. In addition, the results of various methods of trading are compared by demonstrating the cost spent by every prosumer in order to provide a reliable reference for the future work. Bachelor of Engineering 2018-05-25T01:01:59Z 2018-05-25T01:01:59Z 2018 Final Year Project (FYP) http://hdl.handle.net/10356/74919 en Nanyang Technological University 66 p. application/pdf |
| spellingShingle | DRNTU::Engineering Yang, Jiawei Peer-to-peer trading of electricity in local power market |
| title | Peer-to-peer trading of electricity in local power market |
| title_full | Peer-to-peer trading of electricity in local power market |
| title_fullStr | Peer-to-peer trading of electricity in local power market |
| title_full_unstemmed | Peer-to-peer trading of electricity in local power market |
| title_short | Peer-to-peer trading of electricity in local power market |
| title_sort | peer to peer trading of electricity in local power market |
| topic | DRNTU::Engineering |
| url | http://hdl.handle.net/10356/74919 |
| work_keys_str_mv | AT yangjiawei peertopeertradingofelectricityinlocalpowermarket |