A Framework for Multi-Regional Real-Time Pricing in Distribution Grids

Coordinated Market Clearing for Combined Thermal and Electric Distribution Grid Operation

“…The proposed market-clearing mechanism was shown to achieve the market equilibrium in the presence of congestion for a test case with 22 FLs connected to a combined thermal and electric grid. The presented models and test case are implemented in [13] and available open source 1 .…”

Coordinated Market Clearing for Combined Thermal and Electric Distribution Grid Operation

“…Therefore, it is necessary to design appropriate market organization and pricing mechanisms that allow for the fair allocation of the operation cost of the electric grid as well as the cost-effective integration of DERs. In this scope, distribution locational marginal prices (DLMPs) have proved to aid with loss reduction [1] and congestion management [2], [3]. DLMPs essentially translate information on losses and congestion into incentive signals for the DERs to encourage operational contributions, e.g.…”

“…thermal grid operator, electric grid operator and DER aggregators, where each entity may prefer to retain control and data of their respective systems. To this end, distributed optimization techniques such as alternating direction method of multipliers (ADMM) can be utilized to facilitate the energy trade between different entities while retaining organizational boundaries [1]. In general, ADMM serves as a framework for distributed optimization and is widely proposed for applications in power systems due to its good scalability and robustness [9].…”

Distribution Locational Marginal Pricing for Combined Thermal and Electric Grid Operation

“…Therefore, the operation of the thermal grid (in eqs. (1) and (7c) to (7e)) and the electric grid (in eqs. (5) and (7f) to (7j)) are coupled only through the FL operation (in eqs.…”