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Connection-Aware P2P Trading: Simultaneous Trading and Peer Selection

Cheng Feng, Kedi Zheng, Lanqing Shan, Hani Alers, Qixin Chen, Lampros Stergioulas, Hongye Guo

TL;DR

This paper introduces a connection-aware P2P trading algorithm designed for extensive prosumer trading that facilitates asynchronous trading while respecting prosumer's autonomy in trading peer selection, an often overlooked aspect in traditional models.

Abstract

Peer-to-peer (P2P) trading is seen as a viable solution to handle the growing number of distributed energy resources in distribution networks. However, when dealing with large-scale consumers, there are several challenges that must be addressed. One of these challenges is limited communication capabilities. Additionally, prosumers may have specific preferences when it comes to trading. Both can result in serious asynchrony in peer-to-peer trading, potentially impacting the effectiveness of negotiations and hindering convergence before the market closes. This paper introduces a connection-aware P2P trading algorithm designed for extensive prosumer trading. The algorithm facilitates asynchronous trading while respecting prosumer's autonomy in trading peer selection, an often overlooked aspect in traditional models. In addition, to optimize the use of limited connection opportunities, a smart trading peer connection selection strategy is developed to guide consumers to communicate strategically to accelerate convergence. A theoretical convergence guarantee is provided for the connection-aware P2P trading algorithm, which further details how smart selection strategies enhance convergence efficiency. Numerical studies are carried out to validate the effectiveness of the connection-aware algorithm and the performance of smart selection strategies in reducing the overall convergence time.

Connection-Aware P2P Trading: Simultaneous Trading and Peer Selection

TL;DR

This paper introduces a connection-aware P2P trading algorithm designed for extensive prosumer trading that facilitates asynchronous trading while respecting prosumer's autonomy in trading peer selection, an often overlooked aspect in traditional models.

Abstract

Peer-to-peer (P2P) trading is seen as a viable solution to handle the growing number of distributed energy resources in distribution networks. However, when dealing with large-scale consumers, there are several challenges that must be addressed. One of these challenges is limited communication capabilities. Additionally, prosumers may have specific preferences when it comes to trading. Both can result in serious asynchrony in peer-to-peer trading, potentially impacting the effectiveness of negotiations and hindering convergence before the market closes. This paper introduces a connection-aware P2P trading algorithm designed for extensive prosumer trading. The algorithm facilitates asynchronous trading while respecting prosumer's autonomy in trading peer selection, an often overlooked aspect in traditional models. In addition, to optimize the use of limited connection opportunities, a smart trading peer connection selection strategy is developed to guide consumers to communicate strategically to accelerate convergence. A theoretical convergence guarantee is provided for the connection-aware P2P trading algorithm, which further details how smart selection strategies enhance convergence efficiency. Numerical studies are carried out to validate the effectiveness of the connection-aware algorithm and the performance of smart selection strategies in reducing the overall convergence time.
Paper Structure (19 sections, 7 theorems, 41 equations, 5 figures, 2 tables, 3 algorithms)

This paper contains 19 sections, 7 theorems, 41 equations, 5 figures, 2 tables, 3 algorithms.

Table of Contents

  1. Introduction
  2. Standard P2P Trading Model and Algorithm
  3. Trading Setting and Competitive Equilibrium Computation
  4. Primal-dual Algorithm for P2P trading
  5. Connection-aware P2P Trading and Peer Selection
  6. Edge-based connection-aware P2P Trading
  7. Node-based Connection-Aware P2P Trading
  8. Smart Trading Peer Selection Strategy
  9. Convergence Analysis
  10. Edge-based Algorithm and its Smart Selection Strategy
  11. Node-based Algorithm and its Smart Selection Strategy
  12. Case Studies
  13. Basic Settings and Optimal Trading Results
  14. Algorithms and Smart Selection Strategies
  15. Edge-based Algorithm
  16. ...and 4 more sections

Key Result

Theorem 1

Under assumption convex, $(\boldsymbol{x}_{i}^{\star} ,\boldsymbol{t}_{i}^{\star}, \boldsymbol{\lambda }_{i}^{\star})$ is a competitive equilibrium if and only if $( \boldsymbol{x}_{i}^{\star},\boldsymbol{t}_{i}^{\star} ,\boldsymbol{\lambda }_{i}^{\star})$ is the optimal solution to the problem (P1)

Figures (5)

  • Figure 1: The compassion among communication topology for the three algorithms for 6 peers. The nodes represent prosumers. The colored edges represent activated trading connections, and the gray ones represent inactive edges. The arrow direction means message push direction. (a) Standard Algorithm requires strict push-receive synchronisation among all potential peers. (b) Edge-based Algorithm enables partial connections among all potential trading peers but still needs push-receive synchronisation (6 pair of edges are selected). (c) Node-based Algorithm enables both partial connections and de-synchronised push and response. Besides, prosumers can select prosumers to communication (2 connection limit for each prosumer).
  • Figure 2: (a) In Edge-based Algorithm, the sensory oracle selects which bilateral connections to be activated. (b) In Node-based Algorithm, each prosumer decides which potential trading partners to communicate with.
  • Figure 3: The optimal P2P trading solution and the P2P trading prices.
  • Figure 4: Convergence comparisons of (a-b) the average optimality gap, (c-d) the P2P transaction changes, and (e-f) the P2P Price changes for the edge-based connection-aware P2P trading algorithm.
  • Figure 5: Convergence comparisons of (a-e) the average optimality gap, (f-k) the P2P transaction changes, and (l-p) the P2P Price changes for the node-based connection-aware P2P trading algorithm.

Theorems & Definitions (13)

  • Theorem 1
  • Corollary 1
  • proof
  • Proposition 1
  • proof
  • Theorem 2
  • proof
  • Proposition 2
  • proof
  • Theorem 3
  • ...and 3 more