Multi-Commodity Optimisation of Peer-to-Peer Energy Trading Resources in Smart Grid

Jogunola, Olamide ORCID: https://orcid.org/0000-0002-2701-9524, Adebisi, Bamidele ORCID: https://orcid.org/0000-0001-9071-9120, Anoh, Kelvin, Ikpehai, Augustine, Hammoudeh, Mohammad and Harris, Georgina (2022) Multi-Commodity Optimisation of Peer-to-Peer Energy Trading Resources in Smart Grid. IEEE on behalf of Journal of Modern Power Systems and Clean Energy, 10 (1). pp. 29-39. ISSN 2196-5420

Preview

Published Version Available under License Creative Commons Attribution. Download (801kB) | Preview

Abstract

Utility maximisation is a major priority of energy prosumers participating in peer-to-peer energy trading and sharing (P2P-ETS). However, as more distributed energy resources integrate with the distribution network, the impact of link communication becomes significant and should therefore be considered. This paper presents a multi-commodity formulation that allows dual-optimisation of energy and communication resources in P2P-ETS. While the proposed technique minimises energy generation cost and communication delay on one hand, it also maximises the global utility of prosumers with fair resource allocation on the other hand. We evaluate the algorithmin a variety of realistic conditions including time-varying communication network with delay and lossy links. The results show that convergence is achieved in a fewer number of time-steps than previously proposed algorithms. It is further observed that the entities with a higher willingness to trade energy acquire more utility satisfaction than others.