Auction-based Peer-to-peer Energy Transaction Model with Prosumer-side Energy Scheduling

The increasing penetration of small- or medium-sized distributed energy resources, such as PV panels, wind turbines, and batteries, is facilitating the emergence of a more consumer-centric electricity market. Meanwhile, with the increase of such distributed energy resources, traditional market design suffers more and more from the security and low-efficiency issues. Thus, toward the consumer-centric electricity market, it is important to design more flexible energy transaction mechanisms to meet the demand of the more consumer-centric energy distribution. In this paper, we design such an electricity market framework to enable all peers of the energy network to carry out energy transactions directly with others in a decentralized manner. Firstly, for the energy prosumer side, the ensemble learning algorithm is applied to forecast future energy production and consumption. Based on the forecasting result, a power flow optimization is designed to determine the optimal power scheduling of the power system including the P2P trading strategy. For the energy transaction, we apply the discrete double auction adapting McAfee's mechanism to achieve its peer-to-peer manner. We simulate a number of test cases with various renewable resources penetration levels to validate its viability using real-world data and compare our P2P market with the traditional centralized market.

I. Introduction

Nowadays, new energy policies have stimulated the increase of demand-side distributed energy resources (DERs) connection in the power systems [1]. Due to the changing environment of the distribution network, the traditional centralized transactive mechanism suffers from the following problems: 1) the growing number of prosumers leads to higher operating costs and lower efficiency to the transaction center, which makes it difficult to meet the needs of real-time operation of the distribution network; 2) the trust issues between the prosumers and the transaction center harm the fairness, transparency and the validity of the information; 3) the centralized manner of the transaction authority is prone to information security risks, which could jeopardize transaction security and the privacy of the prosumers [2], [3].