Abstract
Increased interest in demand response programs to reduce energy consumption requires more advanced systems for demand-side management. To address this problem, this paper presents the basic model of the transactive energy system with the increased roles of peers in the process of demand reduction and auction processing. The notion of the proposed system is based on the ability of the customers to propose their bids of demand reduction and, thereby, compete with each other for gaining more benefit from the demand response process. The combination of reverse and discriminatory k-DA auctions was applied for energy trading between the peers. The possibility of Blockchain framework implementation for peer-to-peer megawatt energy trading is discussed. A case study has shown the applicability of the proposed technique numerically.