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	Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	368-371
Number of pages	4
ISBN (Electronic)	9780738131443
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, WIECON-ECE 2020 - Virtual, Bhubaneswar, India Duration: 26 Dec 2020 → 27 Dec 2020

Publication series

Name	Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020

Conference

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

UN SDGs

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

SDG 7 Affordable and Clean Energy

Keywords

Bidding
Game
P2P
Transactive Energy

ASJC Scopus subject areas

Artificial Intelligence
Computer Networks and Communications
Hardware and Architecture
Energy Engineering and Power Technology
Control and Optimization
Electrical and Electronic Engineering

Access to Document

10.1109/WIECON-ECE52138.2020.9398015

Cite this

Relan, A., Gupta, V., Kumar, R., & Mahmud, M. A. (2020). Game theoretic Bidding Approach for Peer-to-Peer Trading. In Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020 (pp. 368-371). Article 9398015 (Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/WIECON-ECE52138.2020.9398015

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

@inproceedings{a73ee1b18bfe446eb60473a4189e716a,

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.\}",

note = "Publisher Copyright: {\textcopyright} 2020 IEEE.; 6th IEEE International Women in Engineering, Conference on Electrical and Computer Engineering, WIECON-ECE 2020 ; Conference date: 26-12-2020 Through 27-12-2020",

year = "2020",

month = dec,

day = "26",

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

language = "English",

series = "Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

pages = "368--371",

booktitle = "Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020",

address = "United States",

}

Relan, A, Gupta, V, Kumar, R & Mahmud, MA 2020, Game theoretic Bidding Approach for Peer-to-Peer Trading. in Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020., 9398015, Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020, Institute of Electrical and Electronics Engineers Inc., pp. 368-371, 6th IEEE International Women in Engineering, Conference on Electrical and Computer Engineering, WIECON-ECE 2020, Virtual, 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.
Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020. Institute of Electrical and Electronics Engineers Inc., 2020. p. 368-371 9398015 (Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020).

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 - https://www.scopus.com/pages/publications/85104678602

U2 - 10.1109/WIECON-ECE52138.2020.9398015

DO - 10.1109/WIECON-ECE52138.2020.9398015

M3 - Conference contribution

AN - SCOPUS:85104678602

T3 - Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020

SP - 368

EP - 371

BT - Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 6th IEEE International Women in Engineering, Conference on Electrical and Computer Engineering, WIECON-ECE 2020

Y2 - 26 December 2020 through 27 December 2020

ER -

Relan A, Gupta V, Kumar R, Mahmud MA. Game theoretic Bidding Approach for Peer-to-Peer Trading. In Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020. Institute of Electrical and Electronics Engineers Inc. 2020. p. 368-371. 9398015. (Proceedings of 2020 IEEE International Women in Engineering (WIE) Conference on Electrical and Computer Engineering, WIECON-ECE 2020). doi: 10.1109/WIECON-ECE52138.2020.9398015

Game theoretic Bidding Approach for Peer-to-Peer Trading

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this