A microgrid is a group of renewable and conventional sources and loads connected to the main utility grid. Such a microgrid helps consumers to have a reliable and high-quality power source. The number of microgrids connected to the utility distribution grid significantly grows due to the increasing power demand and the rapid adoption of renewables. In a group of microgrids, a microgrid may have excess power available through renewable energy sources that can be provided to the power grid. A microgrid with an energy deficit connected to the system can buy the excess power from another microgrid. A prosumer is one of the essential components in microgrid who can buy and sell electrical energy. As renewable energy sources such as rooftop solar and wind turbines become affordable, many consumers are installing renewable sources to reduce their electricity bills. Therefore, the number of prosumers has been gradually increased in the system. Advancements in information and communication technology (ICT) have increased the ability the peer-to-peer (P2P) transactions in modern power systems. When two participants agree on the P2P energy transactions, they can plan to use the existing electrical distribution system to complete the transaction. Such energy transaction reduces the power stresses on the main utility grid, making the utilities advantageous. However, the stresses and losses associated with the transaction should be taken into account. The proposed thesis aims to develop a pricing framework for transactions between participants to promote a liberalized energy market. This framework achieved by predicting the losses during the energy transactions and other system stresses, such as voltage and frequency drops. The necessary corrective actions enabled these transactions, and their cost is calculated to form the pricing basis for the energy transactions. In addition, an intelligent system with advanced calculation methods is proposed to address the requirements of handling multiple transactions simultaneously.