Competitive Equilibrium in Microgrids with Dynamic Loads

Zeinab Salehi, Yijun Chen, Ian R. Petersen, Elizabeth L. Ratnam, Guodong Shi

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

Abstract

In this paper, we consider microgrids that interconnect prosumers with distributed energy resources and dynamic loads. Prosumers are connected through the micro- grid to trade energy and gain profit while respecting the network constraints. We establish a local energy market by defining a competitive equilibrium which balances energy and satisfies voltage constraints within the microgrid for all time. Using duality theory, we prove that under some convexity assumptions, a competitive equilibrium is equivalent to a social welfare maximization solution. Additionally, we show that a competitive equilibrium is equivalent to a Nash equilibrium of a standard game. In general, the energy price for each prosumer is different, leading to the concept of locational prices. We investigate a case under which all prosumers have the same locational prices. Additionally, we show that under some assumptions on the resource supply and network topology, locational prices decay to zero after a period of time, implying the available supply will be more than the demand required to stabilize the system. Finally, two numerical examples are provided to validate the results, one of which is a direct application of our results on electric vehicle charging control.

Original languageEnglish
Title of host publication2024 American Control Conference, ACC 2024
EditorsKam K. Leang
Place of PublicationPiscataway NJ USA
PublisherIEEE, Institute of Electrical and Electronics Engineers
Pages1789-1794
Number of pages6
ISBN (Electronic)9798350382655, 9798350382648
ISBN (Print)9798350382662
DOIs
Publication statusPublished - 2024
Externally publishedYes
EventAmerican Control Conference 2024 - Toronto, Canada
Duration: 10 Jul 202412 Jul 2024
https://ieeexplore.ieee.org/xpl/conhome/10644130/proceeding (Proceedings)
https://acc2024.a2c2.org (Website)

Conference

ConferenceAmerican Control Conference 2024
Abbreviated titleACC 2024
Country/TerritoryCanada
CityToronto
Period10/07/2412/07/24
Internet address

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