Comparison of gossip & merit order approaches for cross-commodity sharing.

The surge in the share of volatile Renewable Energy Sources (RES) introduces a lot of challenges in electrical power systems. The volatile nature of RES makes the integration difficult and the centralized control is not scalable or feasible. Therefore, the hierarchical control is preferred starting at the neighbourhood level using Peer-To-Peer (P2P) & local energy trading (as envisioned by EnergyCom2021), or considering multi-energy systems.This paper compares two local P2P, cross-commodity energy trading models by replacing merit order market-clearing presented in our previous work with gossip algorithm. Subsequently, we discuss the advantages of the gossip algorithm using research scenarios and the findings conclude that: (1) The gossip algorithm can represent the prime cost of the market participants more accurately. (2) Missing conditional bidding can be mitigated by the micro trades in the gossiping algorithm.