Towards Imposing Dayparted Restrictions on Tokenised Energy within
Peer-to-Peer Markets
- Almero de Villiers ,
- Paul Cuffe
Abstract
This piece proposes a novel mechanism for peer-to-peer electricity
trading whereby energy tokens can only be redeemed in the same part of
the day as when they were generated. The aim of this regulatory
mechanism is to reduce token hoarding by consumers to better align the
physical production and consumption of electricity, which in turn could
decrease electrical system losses and minimise the chance of grid
imbalances. To establish the effectiveness of this dayparting mechanism
a market simulation is performed. This simulation is made up of 24
consumers' and five producers' profiles over a seven-day week. An
optimisation is performed to most effectively allocate energy tokens
from producers to consumers, aiming to minimise the total energy
imported from the larger grid i.e. to make most effective use of local
generation. Consumers are permitted to perform a measure of demand
response by modulating their demand at certain points while keeping
their total energy consumption constant. Allocated energy tokens can be
consumed immediately, or during any subsequent daypart to the same type.
A series of power flow analyses are performed using the market
simulation out-turns to establish the electrical system effects.
Consumers are found to move some demand to weekend days when demand is
lower but generation is equally abundant. Electrical results reveal a
decrease in system losses, as well as less fluctuation from the larger
grid supply.