Distributed market clearing approach for local energy trading in transactive market

Mohsen Khorasany, Yateendra Mishra, Gerard Ledwich

Research output: Chapter in Book/Report/Conference proceedingConference PaperResearch

9 Citations (Scopus)

Abstract

This paper proposes a market clearing mechanism for energy trading in a local transactive market, where each player can participate in the market as seller or buyer and tries to maximize its welfare individually. Market players send their demand and supply to a local data center, where clearing price is determined to balance demand and supply. The topology of the grid and associated network constraints are considered to compute a price signal in the data center to keep the system secure by applying this signal to the corresponding players. The proposed approach needs only the demanded/supplied power by each player to reach global optimum which means that utility and cost function parameters would remain private. Also, this approach uses distributed method by applying local market clearing price as coordination information and direct load flow (DLF) for power flow calculation saving computation resources and making it suitable for online and automatic operation for a market with a large number of players. The proposed method is tested on a market with 50 players and simulation results show that the convergence is guaranteed and the proposed distributed method can reach the same result as conventional centralized approach.

Original languageEnglish
Title of host publication2018 IEEE Power & Energy Society General Meeting (PESGM 2018)
Place of PublicationPiscataway NJ USA
PublisherIEEE, Institute of Electrical and Electronics Engineers
Number of pages5
ISBN (Electronic)9781538677032, 9781538677025
ISBN (Print)9781538677049
DOIs
Publication statusPublished - 2018
Externally publishedYes
EventIEEE Power and Energy Society General Meeting 2018
- Portland, United States of America
Duration: 5 Aug 201810 Aug 2018
https://www.pes-gm.org/2018/
https://ieeexplore.ieee.org/xpl/conhome/8540807/proceeding (Proceedings)

Publication series

NameIEEE Power and Energy Society General Meeting
PublisherIEEE, Institute of Electrical and Electronics Engineers
ISSN (Print)1944-9925
ISSN (Electronic)1944-9933

Conference

ConferenceIEEE Power and Energy Society General Meeting 2018
Abbreviated titlePES-GM 2018
CountryUnited States of America
CityPortland
Period5/08/1810/08/18
Internet address

Keywords

  • Distributed optimization
  • Electricity Market
  • Energy Exchange
  • Transactive Energy

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