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Open Access

Security Constrained Decentralized Peer-to-Peer Transactive Energy Trading in Distribution Systems

Lingling Wang, Quan Zhou, Zhan Xiong, Zean Zhu, Chuanwen Jiang, Runnan Xu, Zuyi Li ( )
School of Electronic Information and Electrical Engineering, Shanghai Jiao Tong University, Shanghai 200240, China
College of Electrical and Information Engineering, Hunan University, Changsha 410082, China
Electrical and Computer Engineering Department, Illinois Institute of Technology, Chicago IL 60616, USA
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Abstract

Peer-to-peer (P2P) transactive energy trading offers a promising solution for facilitating the efficient and secure operation of a distribution system consisting of multiple prosumers. One critical but challenging task is how to avoid system network constraints to be violated for the distribution system integrated with extensive P2P transactive energy trades. This paper proposes a security constrained decentralized P2P transactive energy trading framework, which allows direct energy trades among neighboring prosumers in the distribution system with enhanced system efficiency and security in which no conventional intermediary is required. The P2P transactive energy trading problem is formulated based on the Nash Bargaining theory and decomposed into two subproblems, i.e., an OPF problem (P1) and a payment bargaining problem (P2). A distributed optimization method based on the alternating direction method of multiplier (ADMM) is adopted as a privacy-preserving solution to the formulated security constrained P2P transactive energy trading model with ensured accuracy. Extensive case studies based on a modified 33-bus distribution system are presented to validate the effectiveness of the proposed security constrained decentralized P2P transactive energy trading framework in terms of efficiency improvement, loss reduction, and voltage security enhancement.

Keywords

Distributed optimizationdistribution systemNash Bargainingpeer-to-peertransactive energy trading

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CSEE Journal of Power and Energy Systems
Volume 8 Issue 1,
January 2022
Pages 188-197
DOI: 10.17775/CSEEJPES.2020.06560
Cite this article:
Wang L, Zhou Q, Xiong Z, et al. Security Constrained Decentralized Peer-to-Peer Transactive Energy Trading in Distribution Systems. CSEE Journal of Power and Energy Systems, 2022, 8(1): 188-197. https://doi.org/10.17775/CSEEJPES.2020.06560

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Received: 07 December 2020
Revised: 23 January 2021
Accepted: 01 March 2021
Published: 10 September 2021
© 2020 CSEE
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