Community energy retail tariffs in Singapore: opportunities for peer-to-peer and time-of-use versus vertically integrated tariffs

Martin, J, Blaise, A-L and Varga, L (2019) Community energy retail tariffs in Singapore: opportunities for peer-to-peer and time-of-use versus vertically integrated tariffs. Journal of Energy Markets, 12 (2). pp. 71-99. ISSN 1756-3607

Abstract

The deregulation of Singapore’s retail electricity market in 2018 and the rapid adoption of solar rooftops have led to the emergence of a new type of energy transaction, wherein prosumers require flexible tariffs that reflect their willingness to respond to market price signals as well as new business models. The move toward community energy schemes, where prosumers can trade their surplus electricity locally, and the implications this has for tariff design motivates our study. We propose a portfolio of stylized retail tariffs for different market organizations. Among the proposed configurations are time-of-use (ToU), default vertical and peer-to-peer (P2P) tariffs, the last of which operates through a blockchain platform. In this study, each Singaporean district is balanced as a potential future microgrid. An iterative double-auction mechanism is designed to calculate a distributed P2P tariff, looking to maximize the benefit for stakeholders. This tariff is then cleared and compared with a bespoke retail ToU tariff as well as Singapore’s monopolistic regulated vertical tariff.

More Details

Item Type: Article
Subject Areas: Management Science and Operations
Subjects: A > Auction theory
Date Deposited: 26 Jul 2019 08:50
Last Modified: 17 Jan 2020 18:22
URI: http://lbsresearch.london.edu/id/eprint/1194
More

Export and Share


Download

Accepted Version - Text
  • Restricted to Repository staff only

Statistics

Altmetrics
View details on Dimensions' website

Downloads from LBS Research Online

View details

Actions (login required)

Edit Item Edit Item