A game theoretic approach for peer to peer energy trading

Long, Chao ORCID: https://orcid.org/0000-0002-5348-8404, Zhou, Yue ORCID: https://orcid.org/0000-0002-6698-4714 and Wu, Jianzhong ORCID: https://orcid.org/0000-0001-7928-3602 2019. A game theoretic approach for peer to peer energy trading. Energy Procedia 159 , pp. 454-459. 10.1016/j.egypro.2018.12.075

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Abstract

In a community Microgrid where peer to peer (P2P) energy trading is carried out, many prosumers have conflicting interests. It is difficult for individual prosumers to capture the conflicting interests in the decision-making process (e.g. control of individual batteries). It is also difficult to motivate prosumers to cooperate for achieving the goals of P2P trading. This work proposed a P2P trading mechanism and modeled the decision-making process using the game theoretic approach and Shapley value. The game theoretic approach delivered distributed energy management solutions for individuals in the trading process considering both optimality and fairness among prosumers. The trading mechanism using Shapley value was compared with previous algorithms for P2P energy trading, e.g. bill sharing (BS), mid-market rate (MMR) and supply demand ratio (SDR). Simulation results illustrated the effectiveness of the proposed method. Optimality and fairness for P2P energy trading were significantly improved.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Engineering
Publisher:	Elsevier
ISSN:	1876-6102
Date of First Compliant Deposit:	1 July 2019
Last Modified:	04 May 2023 22:46
URI:	https://orca.cardiff.ac.uk/id/eprint/123805

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