An Electricity Market Trade System for Next Generation Power Grid

In recent years, power sources in electric power system have been diversified for various reasons such as electricity liberalization, greenhouse gas reduction, and so on. Adapting to these various energy sources, electric power system needs more flexible electricity trade system between those resources. That is why there comes a new trend that every power demand becomes to identify and select its power sources. This report proposes an electricity trading system with “Digital Grid”, in which individuals can trade the identified electricity, time by time and source by source. Individual participants can trade electricity on the computer based market. The executed transaction of the electricity will be delivered physically and automatically via Digital Grid Routers though existing transmission and distribution lines. In the proposed market, participants can trade smaller electricity, where it was not suitable in conventional wholesale electricity markets. Additionally, it is considered suitable that they trade electricity via battery storage, especially for renewable energy, because it is difficult to predict its power output in future. Furthermore, buyers can buy specific electricity, satisfying their needs. It leads to activation of renewable energy and distributed energy of smaller size participating in electricity market. As a result, a new type of “Electricity Market Trade System” is proposed in this study with simulation result that identified electricity is traded accurately.