This case study examines how energy retailers are affected by variable spot prices and explores how Local Energy Markets, based on peer-to-peer energy trading, can provide a viable solution.
This paper studies the impact of variable spot prices on retailer income in the National Electricity Market (NEM) and evaluates the effectiveness of a peer-to-peer (P2P) trading-based local energy market (LEM) to address those negative impacts.
The LEM is operated under a single substation consisting of consumers and prosumers with solar PVs and batteries. The study uses real-world data from an Australian town and explores the energy buying and selling by the retailer through five different parameters. Two different scenarios of high and low spot prices are considered to analyse the effect of volatile spot prices. The study finds that the LEM helps the retailer to reduce the impact of higher spot prices with more stable demand and improves the self-sufficiency and self-consumption of the distribution network.
Read the full case study here
Authors: Dr. Liaqat Ali, M. Imran Azim, Dr. Vivek Bhandari, Anand Menon, Vinod Tiwari, Dr. Jemma Green, Jan Peters, Ehsan Pashajavid, Arindam Ghosh,
© 2022 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.