Related papers: Market-based Microgrid Optimal Scheduling
Peer-to-peer energy trading offers a promising solution for enhancing renewable energy utilization and economic benefits within interconnected microgrids. However, existing real-time P2P markets face two key challenges: high computational…
In this study, we develop a theoretical model of strategic equilibrium bidding and price-setting behaviour by heterogeneous and boundedly rational electricity producers and a grid operator in a single electricity market under uncertain…
To guarantee the well-functioning of electricity distribution networks, it is crucial to constantly ensure the demand-supply balance. To do this, one can control the means of production, but also influence the demand: demand-side management…
In order to address the economical dispatch problem in islanded microgrid, this letter proposes an optimal criterion and two decentralized economical-sharing schemes. The criterion is to judge whether global optimal economical-sharing can…
We propose a real-time nodal pricing mechanism for cost minimization and voltage control in a distribution network with autonomous distributed energy resources and analyze the resulting market using stochastic game theory. Unlike existing…
Since the 1990s, widespread introduction of central (wholesale) electricity markets has been seen across multiple continents, driven by the search for efficient operation of the power grid through competition. The increase of renewables has…
In day-ahead electricity markets based on uniform marginal pricing, small variations in the offering and bidding curves may substantially modify the resulting market outcomes. In this work, we deal with the problem of finding the optimal…
The electricity distribution grid was not designed to cope with load dynamics imposed by high penetration of electric vehicles, neither to deal with the increasing deployment of distributed Renewable Energy Sources. Distribution System…
The increasing penetration of distributed energy resources has sparked interests in participating in power markets. Here, we consider two settings where Virtual Power Plants (VPPs) with some flexible resources participate in the electricity…
Renewable sources are taking center stage in electricity generation. However, matching supply with demand in a renewable-rich system is a difficult task due to the intermittent nature of renewable resources (wind, solar, etc.). As a result,…
Forming (hybrid) AC/DC microgrids (MGs) has become a promising manner for the interconnection of various kinds of distributed generators that are inherently AC or DC electric sources. This paper addresses the distributed asynchronous power…
In recent years, there has been significant growth of distributed energy resources (DERs) penetration in the power grid. The stochastic and intermittent features of variable DERs such as roof top photovoltaic (PV) bring substantial…
In recent years, there has been a significant focus on advancing the next generation of power systems. Despite these efforts, persistent challenges revolve around addressing the operational impact of uncertainty on predicted data,…
Local electricity markets offer a promising solution for integrating renewable energy sources and other distributed energy resources (DERs) into distribution networks. These markets enable the effective utilization of flexible resources by…
Power grids are moving towards 100% renewable energy source bulk power grids, and the overall dynamics of power system operations and electricity markets are changing. The electricity markets are not only dispatching resources economically…
This paper focuses on the problem of energy imbalance management in amicrogrid. The problem is investigated from the power market perspective. Unlike the traditional power grid, a microgrid can obtain extra energy froma renewable energy…
In this paper a novel distributed control algorithm for current sharing and voltage regulation in Direct Current (DC) microgrids is proposed. The DC microgrid is composed of several Distributed Generation units (DGUs), including Buck…
As the number of prosumers with distributed energy resources (DERs) grows, the conventional centralized operation scheme may suffer from conflicting interests, privacy concerns, and incentive inadequacy. In this paper, we propose an energy…
High performance grid computing is a key enabler of large scale collaborative computational science. With the promise of exascale computing, high performance grid systems are expected to incur electricity bills that grow super-linearly over…
Statistical mechanics provides a useful analog for understanding the behavior of complex adaptive systems, including electric power markets and the power systems they intend to govern. Market-based control is founded on the conjecture that…