Sharing economy meets energy markets: group purchasing of energy plans in retail energy markets
Pages 196 - 199
Abstract
Competitive retail energy markets with selectable energy providers are increasingly common, allowing users to conveniently switch their energy plans from one energy provider to another. Meanwhile, group purchasing is a popular paradigm of sharing economy, enabling users to collectively gain better discounts through bulk buying activities. Thus, it is beneficial to apply the idea of group purchasing to competitive retail energy markets, such that users form a bargaining group to collectively switch among energy providers for discounted energy plans. In this paper, we explore the decision-making algorithms for enabling group purchasing of energy plans. In particular, we study an online decision-making scenario, where users form a coalition for group purchasing in energy markets without the knowledge of future energy plans and energy demands.
References
[1]
Allan Borodin and Ran El-Yaniv. 2005. Online Computation and Competitive Analysis. Cambridge University Press.
[2]
Rachel R. Chen and Paolo Roma. 2011. Group buying of competing retailers. Production and Operations Management 20, 2 (2011), 181--197.
[3]
Public Utility Commission of Texas. 2021. Power to Choose. http://www.powertochoose.org/. (2021).
[4]
Australian Energy Regulator. 2021. Energy Made Easy. https://www.energymadeeasy.gov.au/. (2021).
[5]
Nan Wang, Sid Chi-Kin Chau, and Yue Zhou. 2021. Privacy-Preserving Energy Storage Sharing with Blockchain. In ACM e-Energy 21'.
[6]
Jianing Zhang, Sid Chi-Kin Chau, and Minghua Chen. 2019. Stay or Switch: Competitive Online Algorithms for Energy Plan Selection in Energy Markets with Retail Choice. In ACM e-Energy 19'.
[7]
Shengru Zhou. 2017. An Introduction to Retail Electricity Choice in the United States. Technical Report. NREL.
Index Terms
- Sharing economy meets energy markets: group purchasing of energy plans in retail energy markets
Recommendations
Blockchain-enabled decentralized privacy-preserving group purchasing for retail energy plans
e-Energy '22: Proceedings of the Thirteenth ACM International Conference on Future Energy SystemsRetail energy markets are increasingly consumer-oriented, thanks to a growing number of energy plans offered by a plethora of energy suppliers, retailers and intermediaries. To maximize the benefits of competitive retail energy markets, group purchasing ...
Business Models in the Sharing Economy: Manufacturing Durable Goods in the Presence of Peer-to-Peer Rental Markets
With peer-to-peer sharing of durable goods like cars, boats, and condominiums, it is unclear how manufacturers should react. They could seek to encourage these markets or compete against them by offering their own rentals. This work shows why the best ...
Business models that provide access to assets rather than transfer ownership of goods have become an important industry trend, representing a challenge for incumbent firms. This paper analyzes the interaction of a peer-to-peer (P2P) rental market and a ...
When Sharing Economy Meets Traditional Business: Coopetition Between Ride-Sharing Platforms and Car-Rental Firms
Coopetition has been a common practice, especially among emerging markets. The coopetition relationship between a ride-sharing platform and a car-rental firm is distinct in that they operate under two different business models. Although the platform ...
We examine the coopetition relationship between a ride-sharing platform and a car-rental firm. A distinctive aspect of this coopetition relationship is that they operate under two different business models. The platform, exploiting information technology (...
Comments
Information & Contributors
Information
Published In
November 2021
388 pages
ISBN:9781450391146
DOI:10.1145/3486611
- General Chair:
- Xiaofan (Fred) Jiang,
- Program Chairs:
- Omprakash Gnawali,
- Zoltan Nagy
Copyright © 2021 ACM.
Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than the author(s) must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected].
Sponsors
Publisher
Association for Computing Machinery
New York, NY, United States
Publication History
Published: 17 November 2021
Check for updates
Author Tags
Qualifiers
- Short-paper
Conference
BuildSys '21
Sponsor:
BuildSys '21: The 8th ACM International Conference on Systems for Energy-Efficient Buildings, Cities, and Transportation
November 17 - 18, 2021
Coimbra, Portugal
Acceptance Rates
BuildSys '21 Paper Acceptance Rate 28 of 107 submissions, 26%;
Overall Acceptance Rate 148 of 500 submissions, 30%
Contributors
Other Metrics
Bibliometrics & Citations
Bibliometrics
Article Metrics
- 0Total Citations
- 98Total Downloads
- Downloads (Last 12 months)7
- Downloads (Last 6 weeks)0
Reflects downloads up to 03 Mar 2025
Other Metrics
Citations
Cited By
View allView Options
Login options
Check if you have access through your login credentials or your institution to get full access on this article.
Sign in