Billing Models for Peer-to-Peer Electricity Trading Markets with Imperfect Bid-Offer Fulfillment.

This paper proposes four new billing models for peer-to-peer electricity trading markets that take into account electricity volume deviations of market participants from their bids/offers. These billing models incorporate different cost sharing mechanisms so that (i) the costs incurred due to these deviations are minimal for consumers and prosumers and (ii) include non peer-to-peer participants as well. The former is achieved by designing cost sharing mechanisms which split the cost socially, while the latter is achieved by introducing a mid-market that clears all the available supply from the P2P market. Through simulations of a small-scale community, we have demonstrated the effectiveness of our billing models in significantly increasing prosumers' rewards and reducing consumers' bills.