Maximising power-network utility with delivery contracts in energy peer-to-peer trading

Anoh, K., Vukobratovic, D., Morstyn, T., Bajovic, D. and Adebisi, B. (2023) Maximising power-network utility with delivery contracts in energy peer-to-peer trading. In: 2023 IEEE International Conference on Communications, Control, and Computing Technologies for Smart Grids (SmartGridComm), 31 October 2023 - 03 November 2023, Glasgow, United Kingdon.

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Abstract

As passive energy consumers increasingly become active prosumers, quantifying the benefits of engaging in the energy market has been crucial. An example is by estimating the level of satisfaction a prosumer derives from selling its excess energy generation units. This economic theory is usually referred to as utility and could be an incentive to motivate prosumers in distributed energy generation. This paper studies the maximising power-network utility for small-scale energy prosumers engaging in peer-to-peer (P2P) energy trading with delivery contracts. We formulate these as an optimisation problem and solve the same using dual decomposition, which involves a distributed algorithm to decouple the trading variable. To ensure the feasibility of the proposed model, we consider small sets of P2P energy traders formed into virtual clusters (referred to as virtual microgrids) using communication infrastructure for easier management. Results show that the utility derived by prosumers depends on the certain weights assigned to the formulated utility model. We attribute the "psychological" interpretation of these weights to the prosumer willingness to sell the excess energy generated. Index Terms-delivery contract, distributed energy trading, network utility maximisation, peer-to-peer energy trading, smart grid, virtual microgrids (VMG).

Publication Type: Conference or Workshop Items (Paper)
Additional Information: ** From Crossref proceedings articles via Jisc Publications Router ** History: ppub 31-10-2023; issued 31-10-2023.
Uncontrolled Keywords: Measurement, Weight measurement, Power measurement, Psychology, Energy measurement, Microgrids, Peer-to-peer computing, delivery contract, distributed energy trading, network utility maximisation, peer-to-peer energy trading, smart grid, virtual microgrids (VMG).
Subjects: B Philosophy. Psychology. Religion > BF Psychology
T Technology > T Technology (General)
T Technology > TA Engineering (General). Civil engineering (General)
Divisions: Academic Areas > Department of Engineering, Computing and Design > Electrical Engineering
Research Entities > Centre for Future Technologies
Event Title: 2023 IEEE International Conference on Communications, Control, and Computing Technologies for Smart Grids (SmartGridComm)
Event Location: Glasgow, United Kingdon
Event Dates: 31 October 2023 - 03 November 2023
SWORD Depositor: Publications Router Jisc
Depositing User: Publications Router Jisc
Date Deposited: 16 Jan 2024 12:28
Last Modified: 12 Aug 2024 10:43
URI: https://eprints.chi.ac.uk/id/eprint/7307

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