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Roles of retailers in the peer-to-peer electricity market: A single retailer perspective

pmid: 34755098
pmc: PMC8564124
Despite extensive research in the past five years and several successfully completed and on-going pilot projects, regulators are still reluctant to implement peer-to-peer trading at a large-scale in today's electricity market. The reason could partly be attributed to the perceived disadvantage of current market participants like retailers due to their exclusion from market participation - a fundamental property of decentralised peer-to-peer trading. As a consequence, recently, there has been growing pressure from energy service providers in favour of retailers' participation in peer-to-peer trading. However, the role of retailers in the peer-to-peer market is yet to be established as no existing study has challenged this fundamental circumspection of decentralized trading. In this context, this perspective takes the first step to discuss the feasibility of retailers' involvement in the peer-to-peer market. In doing so, we identify key characteristics of retail-based and peer-to-peer electricity markets and discuss our viewpoint on how to incorporate a single retailer in a peer-to-peer market without compromising the fundamental decision-making characteristics of both markets. Finally, we give an example of a hypothetical business model to demonstrate how a retailer can be a part of a peer-to-peer market with a promise of collective benefits for the participants.
4 figures, 2 tables, accepted for publication in iScience (Cell Press)
- World Bank United States
- Pacific Northwest National Laboratory United States
- Singapore University of Technology and Design Singapore
- University of Queensland Australia
- University of Queensland Australia
FOS: Computer and information sciences, Energy resources, Energy systems, Science, Q, Energy management, Systems and Control (eess.SY), Electrical Engineering and Systems Science - Systems and Control, Computer Science - Computers and Society, Computer Science - Computer Science and Game Theory, Perspective, Computers and Society (cs.CY), FOS: Electrical engineering, electronic engineering, information engineering, Energy flexibility, Energy policy, Computer Science and Game Theory (cs.GT)
FOS: Computer and information sciences, Energy resources, Energy systems, Science, Q, Energy management, Systems and Control (eess.SY), Electrical Engineering and Systems Science - Systems and Control, Computer Science - Computers and Society, Computer Science - Computer Science and Game Theory, Perspective, Computers and Society (cs.CY), FOS: Electrical engineering, electronic engineering, information engineering, Energy flexibility, Energy policy, Computer Science and Game Theory (cs.GT)
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