Multi-attribute based prosumers prioritization for energy trading in Smart Grid

This paper proposes an energy trading model based on the priority value of consumers and producers in a smart grid (SG). The priority value of each of the participants (consumers and producers) is calculated using Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) by considering their corresponding parameters like Energy Demand, Energy Surplus, and Bidding Prices. The energy trading method is done according to the calculated priority values. Further, the mathematical model is formulated to calculate the energy bill and the revenue for consumers and the producers, respectively. The proposed model provides consumers and producers to trade with the main grid if necessary. The analytical result proved that the proposed method reduced the energy bill by 28.84% and increased revenue by 66.752%, approximately. As a result, the proposed model motivates the participants to join in the process of energy trading.