Bargaining-based energy trading market for interconnected microgrids

Hao Wang, Jianwei Huang

Research output: Chapter in Book/Report/Conference proceedingConference PaperResearchpeer-review

18 Citations (Scopus)

Abstract

This paper studies the energy trading among multiple connected microgrids, and analyzes the impacts of such trading on the microgrids' costs. In our model, microgrids with excessive power generations can trade with other microgrids in deficit of power supplies for mutual benefits. We design a bargaining-based energy trading market, where all the interconnected microgrids cooperatively decide the amount of energy trade and the associated payments. We propose a decentralized algorithm to solve the bargaining problem, with minimum information exchange overhead. Numerical studies based on realistic data demonstrate the effectiveness of the bargaining-based energy trading market design, and show that the reduction of total cost of the interconnected-microgrids system can be up to 22% comparing with the case of no trading.

Original languageEnglish
Title of host publication2015 IEEE International Conference on Communications (ICC)
EditorsNathan Gomes
Place of PublicationPiscataway NJ USA
PublisherIEEE, Institute of Electrical and Electronics Engineers
Pages776-781
Number of pages6
ISBN (Electronic)9781467364324, 9781467364317
DOIs
Publication statusPublished - 2015
Externally publishedYes
EventIEEE International Conference on Communications 2015: Smart City & Smart World - London, United Kingdom
Duration: 8 Jun 201512 Jun 2015
http://icc2015.ieee-icc.org/ (Website)
http://ieeexplore.ieee.org/xpl/mostRecentIssue.jsp?punumber=7225357 (IEEE Conference proceedings)

Publication series

NameIEEE International Conference on Communications
PublisherIEEE, Institute of Electrical and Electronics Engineers
Volume2015-September
ISSN (Print)1550-3607
ISSN (Electronic)1938-1883

Conference

ConferenceIEEE International Conference on Communications 2015
Abbreviated titleICC 2015
CountryUnited Kingdom
CityLondon
Period8/06/1512/06/15
Other2015 IEEE International Conference on Communications (ICC2015), held in the magnificent city of London, the UK’s capital. ICC2015 will be an excellent presentation, networking and publicity event, offering the opportunity for researchers, engineers and business people to meet and exchange ideas and information. In addition to the traditional keynote, symposium, workshop, tutorial and industry forum sessions, this year we are offering a new event – Chief Technology Officer Forum - during the plenary session. Here, the future of mobile networks will be discussed.
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