Game theoretic Bidding Approach for Peer-to-Peer Trading

Arushi Relan; Vishu Gupta; Rajesh Kumar; M. A. Mahmud

doi:10.1109/WIECON-ECE52138.2020.9398015

Game theoretic Bidding Approach for Peer-to-Peer Trading

Arushi Relan, Vishu Gupta, Rajesh Kumar, M. A. Mahmud

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Citation (Scopus)

Abstract

Lowering carbon emissions requires renewable energy penetration, but due to space, environmental constraints and unnecessary transmission cost, distributed generation is introduced. To promote small scale distributed energy sources, peer-to-peer trading is proposed. A system to settle the local energy market is required with fair/unbiased opportunity for all the consumers interested in buying/ selling of surplus power. Such consumers, or prosumers, are primarily interested in reducing their own electricity bill. This work presents a transactive energy solution with multi-level bidding approach in a non-cooperative game to obtain Nash equilibrium, which is visually proven correct.

Original language	English
Title of host publication	2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering
Subtitle of host publication	WIECON-ECE 2020
Publisher	Institute of Electrical and Electronics Engineers
Pages	368-371
Number of pages	4
ISBN (Electronic)	978-1-6654-1917-8
ISBN (Print)	978-1-6654-3027-2
DOIs	https://doi.org/10.1109/WIECON-ECE52138.2020.9398015
Publication status	Published - 26 Dec 2020
Externally published	Yes
Event	6th IEEE International Women in Engineering Conference on Electrical and Computer Engineering - Bhubaneswar, India Duration: 26 Dec 2020 → 27 Dec 2020

Conference

Conference	6th IEEE International Women in Engineering Conference on Electrical and Computer Engineering
Abbreviated title	WIECON-ECE 2020
Country/Territory	India
City	Bhubaneswar
Period	26/12/20 → 27/12/20

Keywords

Bidding
Game
P2P
Transactive Energy

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1109/WIECON-ECE52138.2020.9398015Licence: In Copyright

Cite this

@inproceedings{bf5f3739174942f58978840cd7fdfbb2,

title = "Game theoretic Bidding Approach for Peer-to-Peer Trading",

abstract = "Lowering carbon emissions requires renewable energy penetration, but due to space, environmental constraints and unnecessary transmission cost, distributed generation is introduced. To promote small scale distributed energy sources, peer-to-peer trading is proposed. A system to settle the local energy market is required with fair/unbiased opportunity for all the consumers interested in buying/ selling of surplus power. Such consumers, or prosumers, are primarily interested in reducing their own electricity bill. This work presents a transactive energy solution with multi-level bidding approach in a non-cooperative game to obtain Nash equilibrium, which is visually proven correct.",

keywords = "Bidding, Game, P2P, Transactive Energy",

author = "Arushi Relan and Vishu Gupta and Rajesh Kumar and Mahmud, {M. A.}",

year = "2020",

month = dec,

day = "26",

doi = "10.1109/WIECON-ECE52138.2020.9398015",

language = "English",

isbn = "978-1-6654-3027-2",

pages = "368--371",

booktitle = "2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering",

publisher = "Institute of Electrical and Electronics Engineers",

address = "United States",

note = "6th IEEE International Women in Engineering Conference on Electrical and Computer Engineering, WIECON-ECE 2020 ; Conference date: 26-12-2020 Through 27-12-2020",

}

Relan, A, Gupta, V, Kumar, R & Mahmud, MA 2020, Game theoretic Bidding Approach for Peer-to-Peer Trading. in 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering: WIECON-ECE 2020. Institute of Electrical and Electronics Engineers, pp. 368-371, 6th IEEE International Women in Engineering Conference on Electrical and Computer Engineering, Bhubaneswar, India, 26/12/20. https://doi.org/10.1109/WIECON-ECE52138.2020.9398015

Game theoretic Bidding Approach for Peer-to-Peer Trading. / Relan, Arushi; Gupta, Vishu; Kumar, Rajesh et al.
2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering: WIECON-ECE 2020. Institute of Electrical and Electronics Engineers, 2020. p. 368-371.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Game theoretic Bidding Approach for Peer-to-Peer Trading

AU - Relan, Arushi

AU - Gupta, Vishu

AU - Kumar, Rajesh

AU - Mahmud, M. A.

PY - 2020/12/26

Y1 - 2020/12/26

N2 - Lowering carbon emissions requires renewable energy penetration, but due to space, environmental constraints and unnecessary transmission cost, distributed generation is introduced. To promote small scale distributed energy sources, peer-to-peer trading is proposed. A system to settle the local energy market is required with fair/unbiased opportunity for all the consumers interested in buying/ selling of surplus power. Such consumers, or prosumers, are primarily interested in reducing their own electricity bill. This work presents a transactive energy solution with multi-level bidding approach in a non-cooperative game to obtain Nash equilibrium, which is visually proven correct.

AB - Lowering carbon emissions requires renewable energy penetration, but due to space, environmental constraints and unnecessary transmission cost, distributed generation is introduced. To promote small scale distributed energy sources, peer-to-peer trading is proposed. A system to settle the local energy market is required with fair/unbiased opportunity for all the consumers interested in buying/ selling of surplus power. Such consumers, or prosumers, are primarily interested in reducing their own electricity bill. This work presents a transactive energy solution with multi-level bidding approach in a non-cooperative game to obtain Nash equilibrium, which is visually proven correct.

KW - Bidding

KW - Game

KW - P2P

KW - Transactive Energy

UR - http://www.scopus.com/inward/record.url?scp=85104678602&partnerID=8YFLogxK

U2 - 10.1109/WIECON-ECE52138.2020.9398015

DO - 10.1109/WIECON-ECE52138.2020.9398015

M3 - Conference contribution

AN - SCOPUS:85104678602

SN - 978-1-6654-3027-2

SP - 368

EP - 371

BT - 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering

PB - Institute of Electrical and Electronics Engineers

T2 - 6th IEEE International Women in Engineering Conference on Electrical and Computer Engineering

Y2 - 26 December 2020 through 27 December 2020

ER -

Game theoretic Bidding Approach for Peer-to-Peer Trading

Abstract

Conference

Keywords

UN SDGs

Access to Document

Other files and links

Fingerprint

Cite this