Concept and design of a Real Time Walrasian Local Electricity Market

• Type: Article in International Conference Proceedings Book
• Date: 2022

Authors

Mello, J (Author) Other; Villar, J (Author) Other; João Tomé Saraiva (Author) FEUP

Conference proceedings International

Title: International Conference on the European Energy Market, EEM

18th International Conference on the European Energy Market, EEM 2022

13 September 2022 through 15 September 2022

Indexing

Scopus

Other information

Authenticus ID: P-00X-F58

DOI: 10.1109/eem54602.2022.9921082

Abstract (EN): This paper proposes a real time Walrasian based market design for local electricity trading, considering the roles of the different players, the settlement procedures, and the necessary balance responsibilities with the wholesale market under collective self-consumption rules. A Walrasian mechanism based on consecutive auctions for very short delivery periods is proposed, where the auctioneer defines a price for each of these delivery periods to which peers react by generating and consuming accordingly and informing if they trade with the auctioneer or with their retailer or aggregator. This market has no energy purchase contracts, and energy is billed based on each peer's generation or consumption for each delivery period with the price defined by the auctioneer. © 2022 IEEE.

Language: English

Type (Professor's evaluation): Scientific