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Equilibrium Seeking and Optimal Selection Algorithms in Peer-to-Peer Energy Markets

Author

Listed:
  • Wicak Ananduta

    (Delft Center for Systems and Control, Delft University of Technology, 2628 CD Delft, The Netherlands)

  • Sergio Grammatico

    (Delft Center for Systems and Control, Delft University of Technology, 2628 CD Delft, The Netherlands)

Abstract

We consider a clearing problem in peer-to-peer energy markets, where prosumers can trade energy among each other and with the main grid to meet their energy demands. By using a game-theoretic formulation and exploiting operator-theoretic methods for generalized Nash equilibrium seeking, we propose two variants of the state-of-the-art distributed market clearing mechanism with improved convergence speeds. Furthermore, we design a third variant that allows for equilibrium selection, i.e., computing a specific market solution based on a convex preference function of the network operator, e.g., a congestion cost. We provide convergence guarantees and numerically show the advantages of our proposed algorithms in terms of convergence speed up and obtaining reduced grid congestion.

Suggested Citation

  • Wicak Ananduta & Sergio Grammatico, 2022. "Equilibrium Seeking and Optimal Selection Algorithms in Peer-to-Peer Energy Markets," Games, MDPI, vol. 13(5), pages 1-13, October.
    • Handle: RePEc:gam:jgames:v:13:y:2022:i:5:p:66-:d:937433
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    References listed on IDEAS

    as
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    3. Tushar, Wayes & Yuen, Chau & Saha, Tapan K. & Morstyn, Thomas & Chapman, Archie C. & Alam, M. Jan E. & Hanif, Sarmad & Poor, H. Vincent, 2021. "Peer-to-peer energy systems for connected communities: A review of recent advances and emerging challenges," Applied Energy, Elsevier, vol. 282(PA).
    4. Noor, Sana & Yang, Wentao & Guo, Miao & van Dam, Koen H. & Wang, Xiaonan, 2018. "Energy Demand Side Management within micro-grid networks enhanced by blockchain," Applied Energy, Elsevier, vol. 228(C), pages 1385-1398.
    5. Bhatti, Bilal Ahmad & Broadwater, Robert, 2019. "Energy trading in the distribution system using a non-model based game theoretic approach," Applied Energy, Elsevier, vol. 253(C), pages 1-1.
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