Multiclass Energy Management for Peer-to-Peer Energy Trading Driven by Prosumer Preferences

By Thomas Morstyn, Malcolm Duncan McCulloch. IEEE Transactions on Power Systems, 2019

462 citations recorded by the source corpus.

This paper proposes a peer-to-peer energy market platform based on the new concept of multiclass energy management, to coordinate trading between prosumers with heterogeneous (i.e., beyond purely financial) preferences. Power networks are undergoing a fundamental transition, with traditionally passive distribution network consumers becoming “prosumers”; proactive consumers that actively manage their production and consumption of energy. The paper introduces the new concept of energy classes, allowing energy to be treated as a heterogeneous product, based on attributes of its source, which are perceived by prosumers to have value. Examples include generation technology, location in the network and owner's reputation. The proposed peer-to-peer energy market platform coordinates trading between subscribed prosumers and the wholesale electricity market, to minimize costs associated with losses and battery depreciation, while providing added value by accounting for the prosumers’ individual preferences for the source/destination of the energy they consume/produce. The decomposable structure of the multiclass energy management problem is exploited to devise a distributed price-directed optimization mechanism, providing scalability and prosumer data privacy. Receding horizon model predictive control allows the prosumers to adjust their planned power flows based on the wholesale energy price, and up-to-date renewable generation and load predictions.

Subfields: Control and Systems Engineering, Electrical and Electronic Engineering

View Paper: https://www.semanticscholar.org/paper/7747a7e83a7b44df463f5e8f81f68ecc0c038571

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Citations in the corpus

Peer-to-peer and community-based markets: A comprehensive review (2018, background): “ community manager is aggregating all members’ data and managing their expectations; 3) Having a fair and unbias energy sharing among community members [52], [53], [72], [73], [74], [75], [76], [61], [77], [78] Hybrid P2P market 1) ICT infrastructure and computation eort are scalable to all system; ”
Peer-to-Peer Trading in Electricity Networks: An Overview (2020, methodology): “A multi-class energy management technique with the purpose of P2P trading is designed in [34] using ADMM optimization”
A Decentralized Bilateral Energy Trading System for Peer-to-Peer Electricity Markets (2020, methodology): “A platform for coordinating DER scheduling in microgrid using smart contracts in blockchain is presented in [16], where smart contracts serve as the ADMM coordinator to update global variables.”
A Motivational Game-Theoretic Approach for Peer-to-Peer Energy Trading in the Smart Grid (2019, background): “tra-microgrid P2P energy trading: This category of energy trading techniques models the decision making process of exchanging energy between prosumers within a microgrid. For instance, the authors in [28] introduces a new concept of P2P trading based on multi-class energy management. Here, energy is”
A novel decentralized platform for peer-to-peer energy trading market with blockchain technology (2021, methodology): “[ 24,27] adopt ADMM as clearing algorithms of the decentralized P2P markets.”
Decentralized P2P Energy Trading Under Network Constraints in a Low-Voltage Network (2018, background): “ptimal power ﬂow in a distributed fashion for P2P energy trading. In a similar context, an alternative approach to account for network constraints and attribution of network usage cost is proposed in [8]. Nevertheless, there are still some elements of debate such as the market framework, and how ext”