Energy trading project in UK and Korea
Peer-to-Peer energy trading joint R&D project demonstrated in Korea and UK
Background & Objective
The large quantities of various distributed energy resources spread the emergence of the prosumer, an active consumer as the main agent of energy consumption, storage and production, and distributed prosumer has new characteristics that are not controlled by the existing centralized power supply system.
This project was promoted to maximize the utility of prosumers by ensuring technical and market acceptability to the extent that it does not undermine the overall understanding of the technology, market and policy, and stability of the distribution system.
Based on the big data-based developing and introducing a P2P energy transaction/sharing-based (P2P-ETS) integrated solution, we wanted to develop a system in which many prosumers can manage and trade energy. The objective also delivered a transaction-based prosumer integration solution that, through horizontal energy sharing and transaction management, could reduce costs and risks relative to a vertical management system and optimize the requirements in Multi-scale, Multi-quality resources and prosumer at the same time in a mix of resources and prosumer.
The ETS system is a Prosumer Transaction Operation & Management System based on various predictive modeling based on intensive research and actual data with Gachon University, Konkuk University, University of Bath, Imperial College London, University of Oxford, Manchester Metropolitan University. The energy trading system architecture and trading channels were designed through big data-based analysis of DER and sub-hazardous resources. Also, analysis of power consumption load patterns and the optimal operation algorithm considering prosumer and distribution business operators in the P2P environment was applied through the definition of a prosumer model considering market operation constraints and the prediction management of resources were utilized to perform the overall system economic analysis and evaluation verification.
Based on proven models in the UK and Korea, which have optimized P2P prosumer transaction market activation mechanisms suitable for the market, EIPGRID aims to gain a position in the new prosumer market with an integrated solution that provides various service interfaces through connection with EIP platforms.