Novel Energy Exchange Models and a trading agent for community energy market

It is necessary to manage periods of excess electricity production from renewable sources and to optimise the use of electricity with in residential communities. This can be achieved by providing community members with a market to trade electricity. In addition, such markets will allow people to profit from their surplus energy and community members to reduce their energy cost. To enable this, we define the concept of community energy (CE) and identify its stakeholders. We also propose Energy Exchange Models between traders in a CE market (CEM). The idea is to design a balance (supply and demand) market and an intelligent trading agent for CEM. The CEM tries to manage internal transaction before trading with outside entities. Using examples, we show that maximising local energy transactions also maximises the overall utility obtained. For further models, a trading agent is proposed to determine outside transaction that will improve overall utility.