  This paper introduces a new scheme for autonomous electricity cooperatives,
called predictive cooperative (PCP), which aggregates commercial and
residential electricity consumers and participates in the electricity market on
behalf of its members. An axiomatic approach is proposed to calculate the
day-ahead bid and to disaggregate the collective cost among participating
consumers. The resulting formulation is shown to keep the members incentivized
to both participate in the cooperative and remain truthful in reporting their
expected loads. The scheme is implemented using PJM (world's largest wholesale
electricity market) real-time and day-ahead price data for 2015 and a
collection of residential and commercial load profiles. The model performance
of this framework is compared to that of real-time pricing (RTP) scheme, in
which wholesale market prices are directly applied to individual consumers. The
results show truthful load announcement by consumers, reduction in electricity
price variation for all consumers, and comparative benefits for participants.
