Exploring Peer-to-Peer Demand Response Transaction Framework between Prosumers in Electricity Retail Market

With advances in information and communication technologies, electrical consumers are becoming prosumers through adjusting their power consumption. However, a lot of small retail-side (SR) prosumers cannot reach the minimum regulation capacity requirements for participating in demand response (DR). Meanwhile, large retail-side (LR) prosumers that can participate sometimes may not complete the regulation task due to unexpected events. It brings operation risks and economic losses to power systems. To address above issues, a peer-to-peer demand response transaction framework between retail-side prosumers is proposed. First, a transaction mechanism is proposed to establish a retail-side DR transaction platform (RDTP). In the RDTP, LR prosumers are regarded as temporary aggregators of SR prosumers by bidding and clearing. On this basis, a retail-side DR model is developed to describe peer-to-peer transaction process between LR and SR prosumers. Finally, the effectiveness of the proposed framework is illustrated by numerical studies.