Operator-oriented Peer-to-peer Energy Trading among Residential Customers in South Korea

Abstract

This paper proposes a peer-to-peer (P2P) energy trade operating methodology in a community that comprises several residential customers. Unlike previous studies on P2P energy trading, this paper suggests an operator-oriented trading scheme to solve a social welfare maximization problem by using the block rate price (BRP). Under this scheme, the operator, rather than each of the participants, decides the trading price and schedules. For this scenario, a price model and a social welfare problem were formulated. The former aims at a fair profit distribution between sellers and buyers, and the latter targets maximizing the community’s total profit. The results are verified using a case study on a community consisting of residential customers in South Korea who adapted the BRP.