Abstract
This paper proposes a Local Energy Market using a P2P blockchain-powered marketplace where agents bilaterally trade energy after the consumption and production period, and not before, as usual in electricity market design. The EU and MIBEL regulatory framework for Renewable Energy Communities potentially creates space for such a market, but some improvements in the settlement procedures and agent's participation must be met. © 2020 IEEE.

Abstract
Energy communities and self-consumption are considered as major drivers to achieve the decarbonization of the power sector, contributing to further increase the penetration of renewables, and empowering end consumers by turning them more active and flexible regarding electricity consumption. Considering the relevance of this topic and given that the corresponding legislation is recent, this paper summarizes the European Regulation on self-consumption and renewable energy communities and describes, analyses and compares its transposition to the Portuguese and Spanish national regulations. The main regulatory barriers for renewable energy communities' rollout are identified and regulatory improvements are proposed to overcome them.

Abstract

Abstract
Building renewable energy communities (REC) involves investments on generation facilities (such as PV panels), technologies to provide flexibility (such as batteries), management platforms and ICT systems, as well as integrating other flexibility sources such as thermal storage or electric vehicles. The way investments are made by the REC's members and other third parties is in close relationship with the governance models of the REC in terms of energy, flexibility and costs and benefits sharing, which, in the end, constitute the overall REC's business model. This works provides a revision of the main financing mechanisms to invest on and build a REC, and of the associated governance and business models that result from the investments mechanisms selected and its implications on its day by day operation. © 2022 IEEE.

Abstract
This paper proposes a real time Walrasian based market design for local electricity trading, considering the roles of the different players, the settlement procedures, and the necessary balance responsibilities with the wholesale market under collective self-consumption rules. A Walrasian mechanism based on consecutive auctions for very short delivery periods is proposed, where the auctioneer defines a price for each of these delivery periods to which peers react by generating and consuming accordingly and informing if they trade with the auctioneer or with their retailer or aggregator. This market has no energy purchase contracts, and energy is billed based on each peer's generation or consumption for each delivery period with the price defined by the auctioneer. © 2022 IEEE.

Abstract
Extensive literature is available for modeling and simulating local electricity markets, often called P2P electricity markets, and for pricing local energy transactions in energy communities. Market models and pricing mechanisms provide simulation tools to better understand how these new markets behave, helping to design their main rules for real applications, and assessing the financial compensations of the internal energy transactions. As such, pricing mechanisms are often needed in energy management systems when centralized management approaches are preferred to market-based ones. First, this paper highlights the links between local electricity markets, pricing mechanisms for local electricity transactions, and other approaches to sharing the collective benefits of participating in transactive energy communities. Then, a standard nomenclature is defined to review some of the main pricing mechanisms for local energy transactions, an innovative pricing mechanism based on the economic principles of a post-delivery pool market is proposed, and other relevant approaches for local electricity market simulation such as Nash equilibrium or agent-based simulation are also revisited. The revision was based on systematic searches in common research databases and on the authors' experience in European and national projects, including local industrial applications for the past five years. A qualitative assessment of the reviewed methods is also provided, and the research challenges are highlighted. This review is intended to serve as a practical guide to pricing mechanisms and market simulation procedures for practical designs of internal financial compensation to share the collective benefits of energy communities.