Distributed Iterative Local Energy Bidding in Agent-based Microgrids

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Paper number
0520
Working Group Number
Conference name
CIRED 2018 Ljubljana Workshop
Conference date
7 - 8 June 2018
Conference location
Ljubljana, Slovenia
Peer-reviewed
Yes
Short title
Convener
Authors
Zhang, Yajun, University of Bath, United Kingdom
Gu, Chenghong, University of Bath, United Kingdom
Li, Furong, University of Bath, United Kingdom
Abstract
This paper designs a new distributed iterative bidding mechanism for energy trading among microgrids (MGs) at the local level. The market is based on one consumer and multiple providers. When one MG as a consumer and other MGs which have surplus power to supply becomes providers. The providers compete by iterative bidding cycles and the final winner will trade with the consumer MG. Due to the non-cooperative relationship among providers, players cannot access other’s information except the feedback from the system operator. This asymmetric information competition among providers is formulated by a Bayesian game for analysis. The Bayesian Nash Equilibrium (BNE) will be arrived and the optimal price can be provided to the consumer. The simulation demonstrates that although different bidding strategies lead to different process, the final result remains, illustrating the effectiveness of this trading model. I.
Table of content
Keywords
Publisher
AIM
Date
2018-06-07
Permanent link to this record
https://www.cired-repository.org/handle/20.500.12455/1168
http://dx.doi.org/10.34890/247
ISSN
2032-9628
ISBN
978-2-9602415-1-8