Abstarct: Abstract The development and availability of renewable energy resources such as rooftop solar panels and micro wind turbines, combined with recent advances in Information and Communication Technology (ICT) are encouraging consumers who have thus far bought their electricity from the main grid to play a more active role in supplying their energy demand; therefore it is necessary to make proper policies to design new energy trading frxameworks by integrating these small-scale energy resources into the electric distribution system while maintaining the technical envelopes. In this dissertation, after a literature review related to the emergence of new energy trading markets, peer-to-peer (P2P) paradigm is introduced as a saving approach to managing the next generation of electricity markets. In this regard, three main methods have been introduced to implement P2P markets; Pool-baxsed, semi-centralized, and decentralized approaches. The main difference between these three methods is in the presence or absence of a third entity as the network manager and the guarantee or non-guarantee of physical network constraints. The pool-baxsed model has a centralize nature in which the network operator is responsible for balancing power and settling transactions, while in the decentralized model, market participants negotiate directly with each other to exchange electricity and information. Although the semi-centralized model, which is almost a combination of the previous two models, to some extent preserves the private information of the participants, the presence of a network manager is still important to ensure security and energy balance. Simulation of different market-clearing methods was conducted on an IEEE 33-Bus Standard Distribution System at the 11 kV voltage level. Four various type of consumers: Agricultural, commercial, domestic and Industrial (ACDI) loads were considered in this study. In addition to Dispatchable Distributed Generations (DDGs), some system nodes were equipped with renewables like wind and solar productions. After analyzing the results, it was found that although the decentralized approach preserves the privacy of participants and eliminates the role of third parties, it does not guarantee the stability of the technical constraints, hence with the introduction of a modification algorithm, the grid voltage profile was improved and this problem was solved. In the end, other than the privacy and consideration of technical constraints points of view, all three models were compared with each other in terms of optimality and computational burden. It was concluded that each method has its pros and cons therefore no method has a definite advantage over the others. Consequently, participants decide on the type of market structure baxsed on their preferences and priorities.