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Uniform Price-based Peer-to-peer Energy Trading with Data-driven Market Clearing Price Estimation
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Publication Year
2024-01-01
Journal
IEEE Power and Energy Society General Meeting
Publisher
IEEE Computer Society
Citation
IEEE Power and Energy Society General Meeting
Keyword
Kirschen network cost allocationMarkov decision processnoncooperative matrix gamespeer-to-peer energy tradinguniform price-based market clearing
Mesh Keyword
Energy tradingKirschen network cost allocationMarket clearingMarkov Decision ProcessesMatrix gameNetwork cost allocationNoncooperative matrix gamePeer to peerPeer-to-peer energy tradingPrice-basedUniform priceUniform price-based market clearing
All Science Classification Codes (ASJC)
Energy Engineering and Power TechnologyNuclear Energy and EngineeringRenewable Energy, Sustainability and the EnvironmentElectrical and Electronic Engineering
Abstract
The actual market clearing price (MCP) of the uniform price-based peer-to-peer (UPP2P) energy trading may differ from its optimal value owing to imperfect competition. Meanwhile, in the UPP2P, MCP is essential to determining optimal social welfare and thus allocating trading capacity among participants. Therefore, this study proposes UPP2P energy trading with novel data-driven MCP estimation using the finite horizon Markov decision process (MDP). Using historical data, the non-technical aspects of the UPP2P operation, such as market power, incomplete information, and bidding strategy, can be integrated into the process of predicting optimal MCP. Furthermore, a modified Kirschen network cost allocation (KNCA) method, which can estimate the effect of UPP2P participants on the network reliability and is incorporated to elucidate the optimization of MCP. The proposed UPP2P with data-driven MCP estimation is applied on a noncooperative matrix game-based UPP2P algorithm, and simulation results are given to show the effectiveness of the method.
Language
eng
URI
https://aurora.ajou.ac.kr/handle/2018.oak/37140
https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85207457596&origin=inward
DOI
https://doi.org/10.1109/pesgm51994.2024.10688432
Journal URL
http://ieeexplore.ieee.org/xpl/conferences.jsp
Type
Conference
Funding
This study was supported by the International Energy Joint R&D Program of the Korea Institute of Energy Technology Evaluation and Planning (KETEP), granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea. (No. 20228530050030).
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Jung, Jaesung  Image
Jung, Jaesung 정재성
Department of Electrical and Computer Engineering
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