An Asynchronous Online Negotiation Mechanism for Real-Time Peer-to-Peer Electricity Markets

Guo, Zaoyang; Wu, Qianhong; Chen, Shibo; Yang, Qinmin; Yang, Zaiyue

doi:10.1109/tpwrs.2021.3111869

Cited by 28 publications

(8 citation statements)

References 49 publications

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“…This restriction ensures that the market clearing solution is consistent with former wholesale market solution. The imbalance of each area is calculated in (5) as the difference between the power output of the agents prior and after the market clearing [13]. The dual variable associated to this equation, λ imb t , represents the marginal costs for balancing products.…”

Section: Market Constraintsmentioning

confidence: 99%

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Coordinated Trading of Capacity and Balancing Products in Multi-Area Local Flexibility Markets

Paredes¹,

Aguado²

2022

2022 IEEE Electrical Power and Energy Conference (EPEC)

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In a scenario with high penetration of renewable and distributed energy resources, Local Flexibility Markets (LFMs) emerge to enhance operation of distribution networks. They deal with new consumption patterns, flexibility, and storage systems to mitigate imbalances and congestions. In recent years, efforts toward the definition of stand-alone LFMs have been made, enabling energy trading in isolated systems. This paper present an alternative solution for congestion and imbalance mitigation using capacity and balancing flexibility products. Products prices are defined considering their intrinsic relation with traditional markets, what enhances compatibility and enables full deployment of this local structures. Besides of that, using the properties of an adaptive ADMM algorithm, the market clearing problem is solved under a Multi-Area setting while information privacy is preserved. The feasibility of the proposed approach is demonstrated on a radial network based on the IEEE 34 bus system, where the solution for the two-area LFM is found in four tens iterations. Furthermore, the scalability analysis provides shows a linear relation between the number of areas and the convergence.

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Section: Market Constraintsmentioning

confidence: 99%

“…The stopping criterion is presented in (33). Typical choices for ε ranges between 10 −2 and 10 −3 for complicating variables [5]. A flowchart of the decentralized Multi-Area LFM clearing problem is presented in Fig.…”

Section: Stopping Criterion and Clearing Algorithmmentioning

confidence: 99%

Coordinated Trading of Capacity and Balancing Products in Multi-Area Local Flexibility Markets

Paredes¹,

Aguado²

2022

2022 IEEE Electrical Power and Energy Conference (EPEC)

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“…However, both processes are limited by suboptimality owing to the discretization issue mentioned above and exhibit an upper bounded gap in social welfare maximization. LR-Ms [1,2,5] require operation in the synchronous mode and are thus vulnerable to communication failures [5].…”

Section: Introductionmentioning

confidence: 99%

Communication‐resilient and convergence‐fast peer‐to‐peer energy trading scheme in a fully decentralized framework

Feng,

Wu,

Yang

et al. 2024

Energy Conversion and Econom

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The wide deployment of distributed energy resources, combined with a more proactive demand‐side management, is boosting the emergence of the peer‐to‐peer market. In the present study, an innovative peer‐to‐peer energy trading model is introduced, enabling a group of price‐setting prosumers to engage in direct negotiations via a straightforward best‐response approach. A Nash equilibrium problem (NEP) is initially formulated and a sufficient condition for the unique solution of the NEP is derived. Afterwards, an asynchronous and convergence‐fast solving method is employed to determine the trading quantity and price. The efficiency and resilience of the presented method are demonstrated through a comprehensive case study.

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“…Thus, an online algorithm is desired. A straightforward approach is the greedy algorithm that decomposes the offline problem into subproblems in each time slot by neglecting the time-coupling constraints [23]. Obviously, the result could be far from optimum.…”

Section: Introductionmentioning

confidence: 99%

Real-time Feedback Based Online Aggregate EV Power Flexibility Characterization

Yan¹,

Huang²,

Chen³

2023

Preprint

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As an essential measure to combat global warming, electric vehicles (EVs) have witnessed rapid growth. Meanwhile, thanks to the flexibility of EV charging, vehicle-to-grid (V2G) interaction has captured great attention. However, the direct control of individual EVs is challenging due to their small capacity, large number, and private information. Hence, it is the aggregator that interacts with the grid on behalf of EVs by characterizing their aggregate flexibility. In this paper, we focus on the aggregate EV power flexibility characterization problem. First, an offline model is built to obtain the lower and upper bounds of the aggregate power flexibility region. It ensures that any trajectory within the region is feasible. Then, considering that parameters such as real-time electricity prices and EV arrival/departure times are not known in advance, an online algorithm is developed based on Lyapunov optimization techniques. We prove that the charging time delays for EVs always meet the requirement even if they are not considered explicitly. Furthermore, real-time feedback is designed and integrated into the proposed online algorithm to better unlock EV power flexibility. Comprehensive performance comparisons are carried out to demonstrate the advantages of the proposed method.

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An Asynchronous Online Negotiation Mechanism for Real-Time Peer-to-Peer Electricity Markets

Cited by 28 publications

References 49 publications

Coordinated Trading of Capacity and Balancing Products in Multi-Area Local Flexibility Markets

Coordinated Trading of Capacity and Balancing Products in Multi-Area Local Flexibility Markets

Communication‐resilient and convergence‐fast peer‐to‐peer energy trading scheme in a fully decentralized framework

Real-time Feedback Based Online Aggregate EV Power Flexibility Characterization

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