Analysis of Peer-to-Peer (P2P) Electricity Market and Piclo’s Local Matching Trading Platform in UK

With the increasing demand of electricity, the current electricity market structure in UK is in transformation phase, transforming from traditional power system hierarchal structure towards a new exciting Peer-to-Peer (P2P) trading platform. Peer to Peer energy market is a novel concept of electricity power systemˈand it proposes an idea of consumers and prosumers to build decentralize and democratize electricity market where consumers can generate their own electricity from renewable energy resources and can become prosumers selling out the surplus energy to others local or utility grid. Due to the intermittent nature of renewable energy and rise in integration of Distributed energy Resources (DERs) in UK, more and more consumers have become prosumers that can save Surplus energy or trade with the local energy deficit consumers by saving their energy through reduce energy bill. This study discusses the basic sharing P2P Models, local community model along with the operation of peer-to-peer market in the UK. In addition, it elaborates the novelty of "Piclo" based local matching trading that offers peer-to-peer trading by using smart meter data to match demand and supply of electricity for every half hour. Finally, Piclo based local match price charging methodologies that includes calculating Distribution use of charging (DUoS) and price incentives model are highlighted.