A Stackelberg game approach for multiple energies trading in integrated energy systems

Feng, Wei; Jing, Zhaoxia; Wu, Ping-Hao; Wu, Q. H.

doi:10.1016/j.apenergy.2017.05.001

Cited by 159 publications

(45 citation statements)

References 35 publications

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“…Nikaido-Isoda relaxation algorithm was used in [120]- [121] to convert the game theory-based models into optimization problems, which can be solved easily. Stackelberg game theory-based models with multi-leaders and multi-followers were proposed for energy trading among multiple microgrids in [122] and for energy trading in the integrated energy systems in [123]. A Stackelberg game approach was utilized in [124] to analyze the trade-off between the retail profit and the consumer surplus.…”

Section: Noncooperative Game Theorymentioning

confidence: 99%

Local flexibility markets: Literature review on concepts, models and clearing methods

2020

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Section: Noncooperative Game Theorymentioning

confidence: 99%

Local flexibility markets: Literature review on concepts, models and clearing methods

2020

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“…As an important non-cooperative game, the Stackelberg game in particular has been utilized to study the hierarchical interactions within a microgrid or among different microgrids by dividing the market participants into leaders and followers according to the sequence of their actions [10]. A non-cooperative Stackelberg game between residential units and a shared facility controller was discussed in [11], in which the shared facility controller worked as a leader to determine the buying price and residential units reacted in response to the buying price to optimize their payoffs.…”

Section: Of 20mentioning

confidence: 99%

Iterative Auction for P2P Renewable Energy Trading with Dynamic Energy Storage Management

2020

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In this paper, a peer-to-peer (P2P) renewable energy trading mechanism for microgrids when energy suppliers are equipped with storage devices is studied. A dynamic energy storage management strategy based on the local trading price is proposed and each supplier decides the amount of energy to be sold and stored in real time. An iterative auction algorithm is presented to obtain the market equilibrium and optimal energy allocation schedule. The economic analysis of introducing energy storage devices in this trading market is further studied. Numerical examples of two 7 × 24-h energy trading scenarios with 20 consumers and 20 solar energy producers are used to illustrate the feasibility of this proposed trading mechanism, with sensitivity analysis of different parameters on social welfare. A comparison of the hourly optimal local trading price of these two markets is demonstrated to explain the dynamic process. It is found that in those days with high solar radiation, compared with the market with no storage device, the total cost for buyers in the market when storage devices are used shows a decline of 1.52% and the total profit for sellers shows an increase of 1.27%, which leads to a substantial relative improvement of 118.94% in the overall social welfare. Moreover, a brief economic analysis shows that the advantage of using energy storage in this example is guaranteed after five years of operation. Longer operation time does not mean more benefits considering the deterioration of battery packs and increase of operation and maintenance costs, and the profit reaches its maximum value at the 15th year.

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“…are key elements for both energy suppliers and consumers. From an economic perspective, an efficient energy transaction considering energy pricing may be important not only to the MEG operation, but also to other participants [6].…”

Section: Introductionmentioning

confidence: 99%

Economic Efficiency Analysis of Micro Energy Grid Considering Time-of-Use Gas Pricing

Lin

Liu

2020

IEEE Access

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The application of time-of-use (TOU) pricing in the electricity market has significant value, which can improve economic efficiency and promote effective management of resources. However, this pricing mechanism has not been applied and promoted in the gas market in China. In this paper, we propose a bi-level transaction model considering TOU gas pricing for analyzing the economic efficiency of micro energy grid (MEG) operation based on Game Theory. The multiple energies trading is conducted between the natural gas company (NGC), the MEG and energy users (EUs), which forms a hierarchical Stackelberg game model. We first analyze utilities and strategies of aforementioned participants, and derive the Stackelberg equilibrium (SE) analytically as a balanced solution that captures the equilibrium strategies of participants. Then, a mixed integer nonlinear programming is formulated to determine the optimal TOU gas prices delivering maximum NGC profit, the optimal energy sales prices corresponding to the MEG' SE utility, and the optimal load pattern for EUs. Finally, numerical experiments are conducted in two scenarios, which reveal that the TOU pricing can well balance the gas supply and demand, and has significant potential for improving the economic efficiency of the MEG. INDEX TERMS Micro energy grid, Stackelberg game, economic efficiency, time-of-use pricing, equilibrium.

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A Stackelberg game approach for multiple energies trading in integrated energy systems

Cited by 159 publications

References 35 publications

Local flexibility markets: Literature review on concepts, models and clearing methods

Local flexibility markets: Literature review on concepts, models and clearing methods

Iterative Auction for P2P Renewable Energy Trading with Dynamic Energy Storage Management

Economic Efficiency Analysis of Micro Energy Grid Considering Time-of-Use Gas Pricing

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