Peer-To-Peer Energy Trading Using MMR Mechanism in Microgrid

This research work examines energy trading in microgrids by considering peer-to-peer mechanisms. Although microgrids may include energy trading between utilities and customers, their main objective is to provide dependable electricity in constrained geographical regions. Different energy resource owners sell electricity to one another via the practice of energy trading to increase financial earnings. This often plays a vital role in preserving the dependability of power networks and helping energy suppliers maximize their financial gains. Peer-to-peer (P2P) energy trading is a cutting-edge technique for managing an increasing number of Distributed Energy Resources in microgrids or local energy systems. Peer-to-peer (P2P) energy trading is the direct exchange of power and energy between consumers and prosumers. With the development of technology and the increasing use of renewable energy sources, among other factors, energy trading has emerged as a significant phenomenon in the international markets. To make this kind of trading more straightforward and enable energy producers to purchase and sell energy within a specified price range, mid-market strategies have been developed. In this work, which goes into great detail on the process, the benefits of the mid-market mechanism over alternative energy trading approaches are discussed It also looks at the difficulties that must be overcome in order for the mid-market mechanism to function as envisioned. From the result, it was noticed that the notion that this trading system would be beneficial to both producers and consumers.