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The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

Author

Listed:
  • Tao Chen

    (Department of Electrical Engineering, University of Michigan-Dearborn, Dearborn, MI 48128, USA)

  • Qais Alsafasfeh

    (Department of Electrical Power and Mechatronics Engineering, Tafila Technical University, Tafila 66110, Jordan)

  • Hajir Pourbabak

    (Department of Electrical Engineering, University of Michigan-Dearborn, Dearborn, MI 48128, USA)

  • Wencong Su

    (Department of Electrical Engineering, University of Michigan-Dearborn, Dearborn, MI 48128, USA)

Abstract

Due to the rapidly-changing technologies in the power industry, many new references addressing the frameworks and business models of the next-generation retail electricity market are entering the research community. In particular, considering new customers with considerable demand response awareness and so-called prosumers with localized power generation based on distributed energy resources (DERs), the next-generation retail electricity market infrastructure will be a level playing field for local energy transactions, strategic pricing scheme design, new business model design and building an innovative energy ecosystem. Consequently, there is an urgent need to keep track of international experiences and activities taking place in the field of the market mechanism design problem at the distribution level. This paper provides a comprehensive survey of recent technology developments and aims to inspire awareness of the further deregulation of the electricity market, especially in areas close to customers. We mainly bring attention to the more than 90 articles published during the past five years. The collected literature has been divided into different sections to discuss different aspects of the next-generation retail electricity market under the deregulated power industry.

Suggested Citation

  • Tao Chen & Qais Alsafasfeh & Hajir Pourbabak & Wencong Su, 2017. "The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey," Energies, MDPI, vol. 11(1), pages 1-17, December.
    • Handle: RePEc:gam:jeners:v:11:y:2017:i:1:p:8-:d:123802
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    References listed on IDEAS

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    Cited by:

    1. Eunice Espe & Vidyasagar Potdar & Elizabeth Chang, 2018. "Prosumer Communities and Relationships in Smart Grids: A Literature Review, Evolution and Future Directions," Energies, MDPI, vol. 11(10), pages 1-24, September.
    2. Park, Sung-Won & Zhang, Zhong & Li, Furong & Son, Sung-Yong, 2021. "Peer-to-peer trading-based efficient flexibility securing mechanism to support distribution system stability," Applied Energy, Elsevier, vol. 285(C).
    3. Pablo David Necoechea-Porras & Asunción López & Juan Carlos Salazar-Elena, 2021. "Deregulation in the Energy Sector and Its Economic Effects on the Power Sector: A Literature Review," Sustainability, MDPI, vol. 13(6), pages 1-23, March.
    4. Josue Campos do Prado & Wei Qiao & Liyan Qu & Julio Romero Agüero, 2019. "The Next-Generation Retail Electricity Market in the Context of Distributed Energy Resources: Vision and Integrating Framework," Energies, MDPI, vol. 12(3), pages 1-24, February.
    5. Hampton, Harrison & Foley, Aoife, 2022. "A review of current analytical methods, modelling tools and development frameworks applicable for future retail electricity market design," Energy, Elsevier, vol. 260(C).

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