  This paper designs a market platform for Peer-to-Peer (P2P) energy trading in
Transactive Energy (TE) systems, where prosumers and consumers actively
participate in the market as seller or buyer to trade energy. An auction-based
approach is used for market clearing in the proposed platform and a review of
different types of auction is performed. The appropriate auction approach for
market clearing in the proposed platform is designed. The proposed auction
mechanism is implemented in three steps namely determination, allocation and
payment. This paper identifies important P2P market clearing performance
indices, which are used to compare and contrast the designed auction with
different types of auction mechanisms. Comparative studies demonstrate the
efficacy of the proposed auction mechanism for market clearing in the P2P
platform.
