@inproceedings{e7dd180157dc412482b866e2af39370e,
title = "Decentralised Energy Market for Implementation into the Intergrid Concept Part I: Isolated System",
abstract = "Power systems world-wide are currently undergoing unprecedented change as the global energy mix transitions from primarily fossil-fuel based synchronous generation towards utility-scale and distributed renewable energy generation. This paper explores the rationale for the pursuit of alternative network architectures to facilitate the transition towards high penetration levels of renewable energies. Furthermore, the emerging research field of transactive energy markets and their potential for energy price reductions is presented. The paper examines the intergrid architecture coupled with a decentralised transactive energy market as a mechanism for permitting higher levels of distributed generation and storage and for energy price reductions, with the Australian energy market used as a case study. The primary contributions of this paper are the development of a decentralised, peer-to-peer (P2P) transactive energy market (TEM) and the derivation of an autonomous agent algorithm capable of monitoring the internal states of agents to place bids and offers to the market accordingly. This paper (part 1 of 2) investigates the behaviour of the TEM and agent algorithm when applied to an isolated intergrid architecture level. The simulation results contained here-within demonstrate that the decentralised TEM and distributed agent algorithm operate in accordance with the desired fundamental principles of economics (supply vs demand), with the potential for significant retail energy price reductions and higher levels of renewable energies.",
keywords = "Blockchain, Decentralised Market, Energy Markets, Intergrid, Microgrid, Network Architecture, Peer-to-Peer Energy Trading, Renewable Energy, Transactive Energy",
author = "Matthew Davison and Jesse Cranney and Terry Summers and Townsend, {Christopher D.}",
note = "Publisher Copyright: {\textcopyright} 2018 IEEE.; 7th International IEEE Conference on Renewable Energy Research and Applications, ICRERA 2018 ; Conference date: 14-10-2018 Through 17-10-2018",
year = "2018",
month = dec,
day = "6",
doi = "10.1109/ICRERA.2018.8566753",
language = "English",
series = "7th International IEEE Conference on Renewable Energy Research and Applications, ICRERA 2018",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
pages = "80--87",
booktitle = "7th International IEEE Conference on Renewable Energy Research and Applications, ICRERA 2018",
address = "United States",
}