Comparative analysis of energy trading priorities based on open transactive energy markets in residential microgrids

M. N. Akter*, M. A. Mahmud, M. E. Haque, Amanullah M.T. Oo

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

15 Citations (Scopus)

Abstract

This paper presents a comparative analysis for energy trading priorities among different consumers and prosumers in a residential microgrid. The transactive energy trading frameworks are considered based on two approaches where all houses in a residential microgrid participate in trading energy among themselves before the energy transactions with the main power grid. The first approach is mainly based on the energy shortage of different houses where the energy transactions among different houses occur based on a pre-defined strategy, e.g., priorities are given to some specific houses at a defined rate. The second approach is developed by formulating a competitive and open transactive energy market using a game theoretic approach with a multi-player game to provide more flexibilities to the participants. A comparative analysis is provided between these two approaches, by considering a residential microgrid in Australian contexts, in terms of flexibility index and saving electricity bills. It is found that the second approach provides more flexibilities to the participants though there are not much differences in saving electricity bills.

Original languageEnglish
Title of host publication2017 Australasian Universities Power Engineering Conference, AUPEC 2017
Place of PublicationPiscataway, NJ
PublisherInstitute of Electrical and Electronics Engineers Inc.
Number of pages6
ISBN (Electronic)9781538626474
DOIs
Publication statusPublished - 22 Nov 2017
Externally publishedYes
Event2017 Australasian Universities Power Engineering Conference, AUPEC 2017 - Melbourne, Australia
Duration: 19 Nov 201722 Nov 2017

Publication series

Name2017 Australasian Universities Power Engineering Conference, AUPEC 2017
Volume2017-November

Conference

Conference2017 Australasian Universities Power Engineering Conference, AUPEC 2017
Country/TerritoryAustralia
CityMelbourne
Period19/11/1722/11/17

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