Joint Energy and Reserve Scheduling of a Wind Power Producer in a Peer-to-Peer Mechanism

Rashidizadeh‐Kermani, Homa; Vahedipour‐Dahraie, Mostafa; Shafie‐khah, Miadreza; Catalào, João P. S.

doi:10.1109/jsyst.2020.3026233

Cited by 9 publications

(4 citation statements)

References 28 publications

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“…Each agent either buys (+) or sells (−) power and flexibility in each time interval. This is ensured using the binary variable v, as shown in Equations ( 10)- (12).…”

Section: Optimization Problemmentioning

confidence: 99%

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Forecast‐aided power and flexibility trading of prosumers in peer to peer markets

Yazdani

Doostizadeh

Aminifar

2022

IET Renewable Power Gen

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The ever‐evolving electricity distribution network calls for new effective, transparent and fair market procedures to be implemented. This paper offers a systematic framework for real‐time trading in prosumer communities. A data‐driven robust optimization model that deals with uncertainty is proposed using the flexibility requirement envelope concept. Using machine learning techniques, high quality point and quantile forecasts are prepared to form the envelope. Next, this data is fed into the optimization problem to match the peers and the distribution grid, trading power, and flexibility in a short‐term look‐ahead horizon. To increase the quality of forecasts, a clustering approach accompanied by a pattern recognition machine is proposed to determine the cluster to which the recently observed net‐load data belongs. To provide forecasts, a forecasting machine is developed using a hybrid of tree‐based ensemble learning models, which provides intuitive, robust, and accurate results. Finally, the peer matching is done in a decentralized fashion using the alternating direction method of multipliers (ADMM), while each agent calculates its battery storage aging cost. Case studies demonstrate the hybrid model's capability in providing high quality power and flexibility forecasts compared to single models and ARIMA models and its positive impact on reducing the overall cost of the system.

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“…Each agent either buys (+) or sells (−) power and flexibility in each time interval. This is ensured using the binary variable v, as shown in Equations ( 10)- (12).…”

Section: Optimization Problemmentioning

confidence: 99%

“…Another study in ref. [12] develops a risk‐constrained joint energy and reserve trading to assist a wind power plant in competing against its peers to attract customers. A CVaR approach is applied to hedge the risks of uncertain resources in the mentioned P2P trading setup.…”

Section: Introductionmentioning

confidence: 99%

Forecast‐aided power and flexibility trading of prosumers in peer to peer markets

Yazdani

Doostizadeh

Aminifar

2022

IET Renewable Power Gen

View full text Add to dashboard Cite

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“…Similarly, P2P model was implemented in [31] using smart features of consortium blockchain for power transactions and contract management in microgrid. To handle uncertainties in WPPs, a P2P trading model was proposed in [32] in order to manage mutual contract for energy transactions. P2P energy trading for prosumer community based on blockchain technologies was proposed in [33] considering uniform price and double auction mechanisms.…”

Section: Introductionmentioning

confidence: 99%

Design and implementation of a peer-to-peer energy trading scheme in multi-microgrid network with photovoltaics and wind energy

Ehjaz

IQBAL

Zaidi

et al. 2023

Journal of Energy Systems

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Expected widespread deployment of Peer-to-Peer energy transactions through affective utilization of Renewable Energy Sources require efficient energy transaction mechanism among the microgrids. We propose a scheme to establish peer-to-peer energy trading in multi-microgrid network by considering photovoltaic and wind energy systems. The research objectives are to minimize overall cost of all microgrids in multi-microgrid network and minimize the loading on centralized power network. Various parameters of photovoltaics and wind energy systems are modeled to explore their impact on P2P energy trading. Energy Management Unit establishes the smart contracts among microgrids, manages power transactions and calculates the cost based on dynamic pricing scheme in the multi-microgrid network. Two different cases are considered with respect to the types of power transaction among the microgrids in the multi-microgrid network and main grid. The effectiveness of the proposed scheme is validated by implementing on local small-scale power distribution system.

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“…Through P2P direct transactions, WPP can offset part of the energy deviation and maximize its interests. H. Rashidizadeh-Kermani et al (Rashidizadeh-Kermani et al, 2020) explored that WPP purchased reserves from energy storage aggregators on the P2P trading floor to compensate for the volatility of wind power, and at the same time introduced conditional value at risk (CVaR) to hedge the randomness of wind energy. Previous work has shown that prosumers take crucial roles in P2P trading.…”

Section: Introductionmentioning

confidence: 99%

Blockchain Based Peer-To-Peer Energy Trading Between Wind Power Producer and Prosumers in Short-Term Market

Liu

Huang

et al. 2022

Front. Energy Res.

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With the increase of wind power penetration, the deviation caused by its volatility and intermittency poses a growing threat to the grid. Energy trading in short-term markets for wind power and backup storage helps compensate for the deviations. Furthermore, the introduction of peer-to-peer (P2P) energy trading can effectively reduce the risk of centralized market management. However, the higher cost of energy storage are not conducive to wind power producers (WPPs). And P2P trading also suffers from trust and efficiency problems. This paper provides a blockchain based short-term energy trading market, which resolves generation deviations through efficient and trusted real-time transactions between WPP and prosumers. The blockchain-based energy trading market is a trustless P2P structure, and the trading is triggered by smart contracts to ensure efficiency. Furthermore, a reputation mechanism is designed to incentivize WPP’s generation forecasts to be accurate and prosumers to participate in the market. A bilevel optimization method is designed to increase the revenue of WPP and reduce the costs of prosumers. The market can effectively balance the deviation of wind power generation, increase the revenue of WPP by 9.55%, and reduce the costs for consumers by 5.6%.

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Joint Energy and Reserve Scheduling of a Wind Power Producer in a Peer-to-Peer Mechanism

Cited by 9 publications

References 28 publications

Forecast‐aided power and flexibility trading of prosumers in peer to peer markets

Forecast‐aided power and flexibility trading of prosumers in peer to peer markets

Design and implementation of a peer-to-peer energy trading scheme in multi-microgrid network with photovoltaics and wind energy

Blockchain Based Peer-To-Peer Energy Trading Between Wind Power Producer and Prosumers in Short-Term Market

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