Dynamic Operating Envelope-enabled P2P Trading to Maximise Financial Returns of Prosumers
Published in IEEE Transactions on Smart Grid, 2023
Recommended citation: M. I. Azim, G. Lankeshwara, W. Tushar, R. Sharma, M. R. Alam, T. K. Saha, M. Khorasany and R. Razzaghi, 2023. "Dynamic Operating Envelope-enabled P2P Trading to Maximise Financial Returns of Prosumers," IEEE Transactions on Smart Grids, 2023, doi:10.1109/TSG.2023.3297366 https://doi.org/10.1109/TSG.2023.3297366
Abstract: This paper presents a new dynamic operating envelope (DOE)-integrated peer-to-peer (P2P) trading scheme to increase the exchange of electricity from prosumers to a distribution network without jeopardising the network constraints. First, a DOE computation mechanism is designed to estimate the power export and import limits for prosumers at different time slots. Second, considering the DOE-estimated export and import limits, a network-aware P2P trading framework is developed utilising cooperative game theory. The key properties of the P2P coalition are studied, as well as the incentive-compatibility and stability are also confirmed. Finally, an algorithm is proposed that enables prosumers to form a stable and incentive-compatible network-aware P2P coalition and fairly distribute the total coalition benefit among themselves. With extensive simulations, it is demonstrated that the modelled P2P trading structure allows prosumers to export more electricity to the low-voltage (LV) network safely compared to existing techniques while keeping bus voltages and line loading within acceptable margins. Subsequently, by trading more power locally, prosumers can substantially mitigate their electricity costs.